Lifetime mortgages
If you are in your mid-50s or older, own your own home and want additional funds, then releasing the equity in your property through a lifetime mortgage may be a way of achieving this. There are various types of lifetime mortgage available and will generally involve taking out of a mortgage secured against the value of the home in order to provide a cash lump sum, regular income or both.
These schemes can be helpful in certain circumstances but are not suitable for everyone. There are advantages and disadvantages involved and it would be prudent to seek professional advice before committing yourself. It is important that you consider all the options available in order to be sure you take the most suitable action for your own needs and circumstances.
This is a Lifetime mortgage. To understand the features and risks, ask for a personalised illustration
We do not typically charge fees for advising upon and arranging a standard mortgage on your behalf, instead we are paid a commission from the lender, known as a procuration fee to cover our costs. If we do charge a fee, this will typically be £250.
Alternatively, you may pay a fee of £125, and and hourly fee of £75 we will refund any commission. A typical case takes 4 hours and therfore the fee would be £425.
We charge fees for advising upon and arranging Lifetime Mortgages / Home Reversion Plans also known as Equity Release Mortgages. All fees will be discussed and agreed at outset. Typically, this will either be a fee of £275, and we will receive commission, or a fee of £550 and we will refund any commission.