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🏠Clear your Interest Only Mortgage



🏠Is your interest-only mortgage coming to the end of its term, but you don’t have sufficient funds to clear it?   If you’re aged 55 or over Equity Release might just be the solution you've been looking for.

 

 

🔓 An Equity Release Lifetime Mortgage enables you to access funds tied up in your home, which you could then use to clear your interest only mortgage.

 

 

🏦 The first option would be to ask your existing mortgage provider if they would extend the term of your interest-only mortgage. 

 

 

🏦 Alternatively, if it’s affordable to you, then you could consider transferring it to a capital and interest repayment standard mortgage.

 

 

💰 However, if income is a barrier for a standard mortgage, 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.

 

 

⚖️ 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.

 

 

 

📱07887885182

 

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.





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