So where’s the catch?
No catch. However, as with all financial products, you must consider all the implications carefully. Our qualified advisors will help you do this. As a member of the Equity Release Council, you can be sure that our highly trained advisors will explain all the benefits as well as the risks and provide the best standards of professional financial advice.
- You will be charged interest on both the loan and any interest already owed. This is added to the total amount that’s secured against your home.
- If property values fall, it will affect the equity available to you or your estate.
- A lifetime mortgage will reduce an inheritance.
- It may affect your eligibility for state benefits.
- You may incur early repayment charges if you choose to repay early.
- Think carefully about securing other debts against your home. There may be cheaper ways to borrow money.
- Releasing more from the full loan amount later, may cost more or less depending on the interest rate at the time.
Use our handy calculator to see how much tax-free cash you could release from your home. Click here