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It’s usual to encounter people seeking out home reversion schemes, monthly payment lifetime mortgage or monthly payment equity release, however, More2Life like Aegon are keen to see paperwork to show your situation in the form of investment statements.
The lender will want to know if the property is a Freehold terraced house or a Leasehold flat and if the resident is an Assured shorthold tenancy tenant.
The more elderly you are and the sicker you are the more cash you can release.
Home reversion plans can reduce the inheritance for your family. Monthly payment equity release may impact ability to claim entitlements. You may need to pay a broker’s fee and some products expose you to changes in interest rates.