Adding or Deducting Lifetime Mortgage Fees
👋 Welcome to Information Station 🚂 where we dive into the world of lifetime mortgage plans.
Today, let's discuss an important aspect that offers flexibility when it comes to fees, which is the option to add fees to the loan amount or deduct them from the loan amount. 🏡💼
Have you ever wondered how you would the manage the upfront costs associated with a lifetime mortgage? This feature provides a solution!
With this option, if you don't have sufficient funds to pay for fees separately, you can add them onto the loan amount.
This means you can access the equity you need without worrying about out-of-pocket expenses.
On the flip side, you can deduct the fees from the loan amount, this will reduce the overall amount that you borrow and potentially save on interest over time. 📊💰
It's all about tailoring your lifetime mortgage plan to your unique financial circumstances.
Curious to learn more about adding fees to the loan amount or deducting fees from the loan amount, or other equity release options?
Drop a comment in the box below 💬 or send me a message 📩. Your question may be featured on my next video!
Thanks for tuning in to Information Station, Stay informed 🧠, and remember, knowledge is power 💪 when it comes to making decisions about your financial future.
Until next time! 🚂
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.