No need to waste Your Time answering lots of personal questions before receiving the detailed information you want. In the case of joint owners, the amount you can borrow is based on the age of the youngest person. The main difference between a Lifetime Mortgage and a traditional mortgage is that you do not need to make any payments to a Lifetime Mortgage.
Interest is charged on the amount you borrow and added to the loan on a monthly basis. This will quickly increase the amount you owe and potentially decrease the amount you can leave as an inheritance. The maximum amount you can release is determined by the age of the youngest applicant and the value of your property.
Interest is charged on the amount you borrow and added to the loan on a monthly basis. This will quickly increase the amount you owe and potentially decrease the amount you can leave as an inheritance. The maximum amount you can release is determined by the age of the youngest applicant and the value of your property.
Services
Unlike many other Equity Release brokers we do not employ sales teams and do not use call centres to contact you. We work on an on-line, post and over the phone basis. This helps us keep our costs down which means we can pass significant savings on to you. We never charge any up front fees and work on a 'No Completion - No Fee' service.
You can use our simple Equity Release Cash Calculator to tell you how much you can release from your home. However, that's the easy bit. Finding the best value plan is a bit more complicated with over 400 Equity Release plans on the market. Interest rates will range from 2.83% to 6.64%, depending on exactly how much cash you might want to release.
Equity Release is a way of releasing tax free cash from your home if you are a homeowner over the age of 55. The most popular way of releasing cash from your home is with a Lifetime Mortgage. A Lifetime Mortgage is very similar to a traditional mortgage, but there is no fixed repayment date and you do not have to make any monthly repayments.
It is possible to release equity on a second home, that is not your main residence or on a buy to let property or a portfolio of buy to let properties. The amounts you can release on a second home or buy to let properties will be lower than on your main residence. Use our free and simple eligibility checker to see if you can release cash from your home.
You release a tax free cash lump sum from your home to spend as you like. There are no monthly repayments to make ever for the rest of your life. Interest is chargeable and is added to the loan each month. You are NOT selling the house and can remain in your home for the rest of your life. The amount you borrow and the accumulated interest is repaid when you die, permanently leave the house or move into long term care and the house is sold.
Reviews
Be the first to review Your Time Equity Release.
Write a Review
