🏡Sometimes financial demands surpass what your existing income can cover. If you’re a homeowner aged 55 or over Equity Release might just be the solution you've been looking for.
💰 Whether its supporting everyday expenses or you just want more funds to live the life you want to live.
🔓 An Equity Release Lifetime Mortgage enables you to access funds tied up in your home, which you can then use to secure an additional income stream, providing financial flexibility when you need it most.
💡 The first thing to do is to look to at any ways that you can reduce your outgoings. If you have any debts, could these be consolidated?
💰 However, if income is a barrier for debt consolidation, Equity Release could be an alternative solution
💡 With a Lifetime Mortgage, the amount you can borrow is based on your age and the value of your property, rather than income affordability.
🔒The interest rate for a lifetime mortgage is fixed for life and it is only required to be repaid after you, or the last remaining applicant, dies or moves into long term care.
🏠However, you still have options to move home in the future if your circumstances change.
⚖️ You can choose to have a plan with no committed monthly payments but have the option to make voluntary repayments if you wanted to, which would reduce the amount of interest that accumulates over time.
💡 This means you have flexibility and control of the debt.
🌟 If you would like to find out more about this or anything else to do with Equity Release, drop me a message, I’m here to help.
This is a lifetime mortgage. To understand the features and risks 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.
A fee may be charged for mortgage advice, the exact amount will depend on your circumstances.