When making a financial decision it pays to know some facts beforehand. Have you ever made a purchase, almost made a purchase, or came close to something only to find after several hours of talking with people you are unable to finish the deal? With lifetime mortgages and equity release products like home reversion there are qualifications you have to meet. Once you meet those qualifications you also want to know if it is a viable option for you. Instead of talking with a sales person who might take a lot of your time, waste it even, you can get […]
Equity release is a secured loan obtained against a property like any other residential mortgage; however, the main difference is that you are not required to make any monthly repayments of the capital loan sum. Security of tenure is therefore an important consideration for any applicant. This reassurance is provided by the industry trade body known as SHIP or the Safe Home Income Plans. You have multiple options with equity release such as drawdown equity release, lifetime mortgage, interest only lifetime mortgage, enhanced lifetime mortgage and home reversion.
The lifetime mortgage is one of the most common equity release schemes […]