Life-Time Mortgages

Releasing equity form your home.

Life-time Mortgages or ‘Equity Release’ produces mixed emotions for many people.  There was a lot of bad press in earlier years when people died with their properties being sold for less than the debt that was owed to the ‘Equity Release’ company causing financial difficulties for their families.

However, nowadays they can be a very useful product to allow houseowners to generate additional income or release capital from their homes to help them to maintain their chosen lifestyle.

There are many more products on the market which are much more flexible and which can be chosen to incorporate the features that are most important and relevant to your situation.  Many of the products are fairer to the consumer and make it easier to pay back some or all of the loan without large redemption penalties.  It is also possible on some, to provide a guaranteed ‘inheritance’ amount to ensure that there is some value left in the property to be passed on to your beneficiaries.

We only advise on companies which are part of the ‘SHIP Code of Practice ‘.  There are companies which follow a Code of Conduct that protects consumers when taking out an Equity Release deal.