No term, mortgage will be repaid at the end of the plan (death or long term care), no income assessment, over 55’s – no maximum age, Equity Release Council product standards and guarantees
You choose how to use the money raised, for any legal purpose. Tax free, unless used for an income.
Allows a pre-agreed cash reserve to be drawn down as and when required or on a fixed draw down schedule, you choose.
Allows interest to be serviced providing control over borrowing. You choose what percentage of the interest you wish to service too, up to 100% of the monthly payment.
For clients with ill health or lifestyle issues. Higher Loan to Values available. Allows more money to be released from your property than standard plans.
The ability to make repayments if and when you want. This allows you to make lump sum repayments to the amount outstanding without penalty. Ideal for clients who may have inheritance on the horizon or other large cash lump sums in the future.
Capital can be invested or used to provide a fixed income over a pre-set period
You can protect a fixed percentage of your property to allow you to pass on after death. Ideal for clients where family inheritance is important to them.
More and more products coming to market offering a known fixed early redemption charge.
Repay the mortgage without penalty upon house move after qualifying period. Ideal for clients who may have a need to downsize in the future.
Can use additional properties as security, thus allowing you to raise more equity from your properties.
Over 55 retirement properties for example, these types of properties are difficult to raise finance against. We have several lenders who specialise in this area.
Sell a portion or all your home in return for a lump sum. All the ERC guarantees still apply.
These are still available and are the right choice for some clients although very few are used in today’s market given the wealth of options available in the lifetime mortgage market.
Term normally up to age 85, income always assessed, no Equity Release Council guarantees.
Income assessed, interest serviced for the life of the loan, normally up to age 85. Ideal for clients who have surplus monthly income or are coming to the end of a pre-arranged interest only residential mortgage term.