Later Life Lending

Whatever your needs for later life lending, be it Equity Release, Lifetime Mortgage or Retirement Interest Only Mortgage (RIO) we are able to help.

Over 55’s Lifetime Mortgage

These are one of the more popular types of an equity release plans. By using your equity, you can access the value tied up in your home.

Unlike standard residential mortgages, which run for a desired fixed term, the lifetime mortgage is designed to run for the rest of your life. During this period, the property remains 100 percent in your name, and you are free to live there until you die or move into long-term care. This could be a great alternative if you need some extra money, but don’t want to downsize to a cheaper property.

An Equity release product traditionally requires no repayments to be made until the death of the last surviving borrower or being placed into long-term care.
The interest will compound or roll up and thus increase over time. Any proceeds left after paying off the provider are then passed into your estate. It will be at this point it will be distributed to your beneficiaries.

 This is a lifetime mortgage. To understand the features and risks, please ask for a personalised illustration. Check that this mortgage will meet your needs if you want to move or sell your home or you want your family to inherit it. If you are in any doubt, seek independent advice.