A Lifetime Mortgage is a type of equity release product for homeowners aged 55+. It lets you access tax-free money from the value of your home, without the need to sell or move out. The loan and interest are repaid when you pass away or move into permanent care.
Key Benefits:
You pay the interest each month to keep the loan from growing.
Withdraw funds when you need them, paying interest only on the amount taken.
Potentially borrow more if you have certain health conditions or lifestyle factors.
If you’re looking for a way to release cash from your property while staying put, a Lifetime Mortgage could be a valuable solution. It’s often used to top up retirement income, fund home improvements, or help children get on the property ladder. However, it’s important to get professional advice to ensure it aligns with your long-term plans.
Don’t let your home’s value go untapped – find out how a lifetime mortgage could work for you today.