Lifetime mortgages are effectively equity release schemes which will allow people in this situation access to a lump sum of cash or an income for life. A lifetime mortgage is achieved by effectively taking out a loan that is secured on your property.
Interest is charged on this loan but accumulated over time and is repayable either when you die or go into long-term care i.e. when the property is sold. Both the capital and the interest are both paid by the sale in one go. Lifetime loans have been popular with many OAP's and individuals who want to free up equity from their property.
Endsleigh Financial Independent Tailoring are able to help guide through the best options available to you for lifetime mortgages as we are able to look at a number of different lenders within the UK mortgage marketplace. Compare lifetime mortgages now by completing our quote form online.
Our life time mortgage comparison service is free (unless you opt to pay a fee for our advice) and unlike a number of other mortgage companies our staff are salaried, not paid commission on the products that they sell, meaning they really do act independently within the mortgage marketplace to try to get you the best deal.
Related links.
Mortgages
Remortgages
First time buyers
Fixed rate mortgages
Flexible mortgages
Tracker mortgages
Offset mortgages
Interest only
Key worker mortgages
Lifetime mortgages
Non standard mortgages
Right to buy mortgages
Bad credit mortgages
Commercial mortgages
Buy to let mortgages
Mortgage calculator
Mortgage costs
Mortgage guide
Mortgage FAQ’s
Homebuyers info packs