• Anyone who recommends you take an Equity Release plan will have to be regulated by the government
    body called the Financial Conduct Authority, and have passed specialist qualifications and exams.

  • With a Lifetime Mortgage you can take as little as £10,000 tax-free and leave more funds in reserve
    for when you need it. Your property remains your own, you have just borrowed against it.

  • If you want to pay some of the money back into your property, you can do so with optional repayments
    of up to 10% per year of the outstanding balance.

  • If you don’t want to pay any back, you don’t have to. Like any other borrowing, an interest rate is
    charged and any interest you choose not to pay is simply added to the total and paid when you or
    your heirs eventually sell the property.

  • The interest rate is fixed for life so you can be sure of what you are being charged. Variable rate plans
    are available.

  • No matter how much you take with the plan you will never owe more than the value of your property.

  • You can never pass on any Lifetime Mortgage debt to your children

  • If you want to move and don’t want to repay the money, you can transfer the plan to another suitable
    property, subject to the Lender’s criteria.

  • If you wanted to repay the full amount, you can do, though there may be an additional charge for
    doing so.

  • You own your home, like with any other mortgage.

  • A solicitor of your choosing will talk you through the terms and conditions in detail before you commit
    to anything or incur any costs.