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It’s often found to encounter individuals looking for monthly payment equity release, lumpsum lifetime mortgages or lifetime mortgage with flexible drawdown cash release, however, More2Life like The Exeter Equity Release are keen to see paperwork to show your situation in the form of pension statements.
The more aged you are and the unhealthier you are the more tax free money you can release.
Lumpsum lifetime mortgages can reduce the inheritance for your family. Home reversion plans may impact entitlements to state benefits. You may need to pay a valuation fee and you could be exposed to changes in interest rates with some products.
The 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 Primary Residence.