We offer lifetime mortgages in Wiltshire from all later life mortgage lenders
Choosing the right equity release company in Wiltshire is important. We pride ourselves on the service that we offer our clients and we have access to the whole of the market, so if you decide equity release could be the right path for you we will research all the available products and schemes to find the right one for you. We are completely unbiased and work soley to represent your interests.
Lifetime mortgages are the most popular type of equity release product. The other type is known as a home reversion scheme. A lifetime mortgage is a form of equity release scheme whereby a loan is secured against your property, offering you a tax-free lump sum or a regular income to use as you wish. Interest is added to the loan throughout your lifetime, as there is no fixed period. Interest rates are usually fixed for the duration of the loan. The loan and any interest is repaid when you and your partner, if applicable, die or move into long-term residential care.
Lifetime mortgages are very flexible, you still own your home so if there is any growth in value, this belongs to you. Some plans enable you to guarantee an inheritance for your family. You can also have the option to pay the interest monthly, so it does not ‘roll up’ or make ad-hoc capital repayments. We only recommend products that have a ‘no negative equity guarantee’, so your property will never be worth less than any debt. Lifetime mortgages also allow you to move home if you wish and transfer the new mortgage to your new home, subject to meeting certain criteria.
Find out how much money you could raise by using our equity release calculator.