Releasing equity from your home is a lifetime commitment, so it’s worth including your family in any decision you make.

When you call us, we can refer you to a carefully selected equity release adviser who will explain the features and risks of our lifetime mortgages, such as:

  • A lifetime mortgage charges interest on the total amount of the loan including the interest that has already accumulated, so the amount owed will quickly increase.
  • Taking a cash lump sum and the costs involved will reduce the value you have in your home and therefore the amount of inheritance you are able to leave.
  • If you have an existing mortgage on your home, you would have to use the money you release to pay off the existing mortgage first, but then you would be free to spend it as you wish.
  • You don’t have to pay tax on the amount you borrow, but it may affect your tax position and entitlement to means tested benefits.
  • A lifetime mortgage is a long term commitment – it can be expensive if you decide to repay the loan early as you may have to pay a substantial early repayment charge.
  • Please note that lifetime mortgages are not suitable for the following property types; freehold flat or maisonette (except in Scotland), studio or basement flat, flat or maisonette in a local authority or housing authority block of more than four storeys, mobile home or houseboat, farm or small holding being used for agriculture, hotel, retirement property, guest house or B&B.
  • Minimum age and property values apply.
  • Our lifetime mortgages are not available in the Channel Islands or the Isle of Man.

 

Interested? If you want to know more One Stop Finance Group can introduce you to an Independent Lifetime Mortgage specialist who has access to 12 different providers and 60+ solutions. Call us on 020 8441 2605, or 01442 232272, to start finding out if you could release some of the value locked up in your home.