Lifetime mortgages

A convenient way for you to access capital that is tied up in the value of your home

If you are over 55 years of age and find yourself with equity in your home but have limited cash to live as you would like as you start retirement equity release could provide a convenient way for you to access capital that is tied up in the value of your home, whilst you continue to live in it until you chose to move out permanently or die.

At FPM Advice Centre our financial advisers can provide equity release and lifetime mortgage advice based on your own personal circumstances. We will discuss your immediate and long-term needs and will advise on the best solution and options for you, whether it is a lifetime mortgage that provides you with a series of regular tax free payments or an equity release that returns a tax free lump sum.

Equity release options

There are different types of equity release available. Our qualified advisers will explain the differences and guide you through the entire process, making sure you understand the features and risks of each option to ensure you a fully informed decision.

How much equity you can release will vary between providers but it usually depends on your age, health, and value of your home.

Lifetime mortgage: A mortgage that enables you to borrow against the value of your home and allow the interest to be added to your mortgage, while maintaining full ownership of your home. When you die or move into long-term care the Mortgage must be repaid, which is usually (but not necessarily) from the Sale of the Property.

Funds cab borrowed as a Lump Sum (with potential ‘Drawdown’ facility for future use) or on an income basis

Interest only lifetime mortgage: An Interest only lifetime mortgage allows you to borrow against the value of your home and choose to make flexible repayments to the lender repaying all or part of the interest.

Please note that FPM Advice Centre Ltd. does not advise on ‘Reversion’ Schemes

FAQs

Below you’ll find answers to the questions we get asked the most about lifetime mortgages. If you have any questions that are not covered below, don’t hesitate to contact FPM Advice Centre.

Will I be able to keep my home?

Yes, you will continue to own your own home. All plans that meet the standards set by the Equity Release Council guarantee lifetime tenancy in your property, regardless of what happens to future interest rates, property values or investments.

What costs are involved when setting up a plan?

Costs are for Survey (invariably free of charge), your Solicitor Costs. Our charge is presently £549. Some Lenders charge a completion fee when the Loan completes.

Will I be able to leave an inheritance?

Yes, you will still own the property, although (as above) the Mortgage will need to be repaid.

Request a callback

Arrange your free no-obligation Lifetime Mortgage consultation today.

If you have any questions or you’d like to discuss your equity release options please complete the call back form below, alternatively, please call 01925 240020, email or complete our enquiry form.

OUR PRIVACY POLICY I confirm I have read, fully understand and agree to FPM Advice Centre Ltd’s Privacy Policy.