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It is common to encounter individuals looking for lump sum lifetime mortgages, monthly payment lifetime mortgage or home reversion plans, however, Key Solutions like Royal London Equity Release are keen to see evidence of your situation in the form of pension statements.
The more aged you are and the the more illnesses you have you are the more tax free cash you can release.
Lump sum lifetime mortgages can reduce your estate value. Home reversion schemes may impact ability to claim entitlements. You may need to pay a solicitor’s fee and some products expose you to changes in interest rates.
The 1st and 2nd charge lender will want to know if the property is a Freehold terraced house or a Leasehold flat and if the resident is an Owner Occupier.