Our lifetime mortgage is a form of equity release , essentially a long-term loan secured on your property. A lifetime mortgage is the most popular type of equity release scheme which is designed to run for the lifetime of the homeowner. It is a mortgage that is secured upon your home with the amount borrowed being calculated using the age of the youngest homeowner and the valuation of the property.
To guard against this, most lifetime mortgages offer a no-negative-equity guarantee ( Equity Release Council standard). With this guarantee the lender promises . However, they can advise on alternatives, such as remortgaging or moving to a .
A Lifetime Mortgage is a type of equity release that allows you to access part of the equity that has built up in property. Confusingly, even the equity release industry itself can use the terms lifetime mortgages or equity release interchangeably, when they mean . Equity release is a means of retaining use of a house or other object which has capital value,. Compounded interest is added to the capital throughout the . For the lifetime mortgage equity release , the typical rate is 5. Compare all lifetime equity release mortgages , which can release the value of your home with a loan that is only repai along with the interest .