Modern equity release schemes are much more; user friendly, flexible, and cheaper than ever with you now being able to choose whether you wish to:
- Pay any interest to avoid the debt increasing or allow it to build up on the debt.
- Take just one single lump sum or request a Drawdown Lifetime Mortgage where you can create a maximum facility but only draw money when required to avoid incurring any more interest than necessary.
- Receive a monthly income instead of one single lump sum which not only improves your income but will preserve more equity in your home.
Many Lifetime Mortgages also now offer you the ability to repay up to 12% of the amount initially borrowed each year without any Early Repayment Charges, or to vary any voluntary monthly repayments.
Should you own your home jointly you may also appreciate knowing that if you suddenly find yourself left on your own due to your spouse or partner dying or needing to move into care, some equity release schemes will now allow you 3-5 years to re-evaluate your future and allow you to repay any debt without penalty.
In addition, all equity release schemes we arrange, meet Equity Release Council standards for safety meaning:
- You can remain living in your home for the rest of your life/s
- You will have no negative equity guarantee so even if you do not pay any interest, the debt can never exceed the value of your home.
So covered by these safeguards why not discover whether equity release might be right for you by clicking on any of the following: