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The more elderly you are and the sicker you are the more tax free money you can release.
It’s usual to encounter people seeking out monthly payment lifetime mortgage, monthly payment lifetime mortgage or home reversion schemes, however, the Telegraph like The Exeter Equity Release are keen to see evidence of your circumstances in the form of pension statements.
Lifetime mortgage with flexible drawdown cash release can reduce your estate value. Monthly payment equity release may impact ability to get state benefits. You may need to pay a broker’s fee and you could have higher rates to pay with some schemes.
The 1st and 2nd charge lender will want to know if the property is a Freehold house or a Leasehold flat and if the resident is an Assured shorthold tenancy tenant.