If you don’t want a lifetime mortgage or equity release, and just want a normal mortgage at 1.97% regardless of your age please Click Here
It’s usual to find people seeking out interest-only lifetime mortgages, lump sum life time mortgages or home reversion schemes, however, Legal and General like Maximum cover Equity Release are keen to see evidence of your situation in the form of pension statements.
Monthly payment life time mortgage can reduce the inheritance for your family. Lifetime mortgage with flexible drawdown cash release may impact entitlements to benefits. You may need to pay a broker’s fee and you could be exposed to changes in interest rates with some products.
The mortgage lender will want to know if the property is a Freehold terraced house or a Leasehold flat with share of freehold and if the resident is an Assured shorthold tenancy tenant.
The older you are and the the more illnesses you have you are the more tax free cash you can release.