The older you are and the more serious your illnesses you are, the more tax-free cash you can release.
It is common to encounter people searching for lump sum lifetime mortgages, monthly payment lifetime mortgage or lifetime mortgage with flexible drawdown cash release, however, Age Concern like Royal London Equity Release are keen to see evidence of your situation in the form of bank statements.
Pure Retirement Retirement Mortgages
Crown Retirement Mortgages
The mortgage lender will want to know if the property is a Detached freehold house or a Leasehold house and if the resident is a Private Tenant.
Monthly payment equity release can reduce the value of your estate. Lumpsum lifetime mortgages may impact the ability to claim entitlements. You may need to pay a broker’s fee, and you could have higher rates to pay with some schemes.