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Lump sum lifetime mortgages can reduce the inheritance for your family. Interest-only lifetime mortgages may impact entitlements to benefits. You may need to pay a solicitor’s fee and you could be exposed to changes in interest rates with some products.
It’s common to discover people looking for lump sum lifetime mortgages, lumpsum lifetime mortgages or monthly payment equity release, however, Aviva like Fortify Insurance Solutions 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 house or a Leasehold flat and if the resident is an AST Tenant.
The more elderly you are and the unhealthier you are the more cash you can release.