Equity Release
Please note this is a generic guide, it is important to check the Key Facts Illustration for the particulars of any recommended mortgage.
A lifetime mortgage is when you borrow money secured against your home, provided it’s your main residence, while retaining ownership. You can choose to ring-fence some of the value of your property as an inheritance for your family. Additionally, some providers might be able to offer larger sums to those with certain medical conditions, or even ‘lifestyle factors’ such as a smoking habit.
Your home may be repossessed if you do not keep up repayments on your mortgage.
You may have to pay an early repayment charge to your existing lender if you re-mortgage.
Think carefully before securing other debts against your home.
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