Lumpsum lifetime mortgages can reduce the value of your estate. A monthly payment lifetime mortgage may impact entitlements to state benefits. You may need to pay an advisor’s fee, and you could be exposed to changes in interest rates with some products.
It is often found to discover people searching for home reversion plans, monthly payment lifetime mortgage or lifetime mortgage with flexible drawdown cash release, however, Sunlife Plans like Maximum cover Equity Release are keen to see paperwork to show your circumstances in the form of investment statements.
The lender will want to know if the property is a Semi detached freehold house or a Leasehold flat with share of freehold and if the resident is an AST Tenant.