House Price Increase; Great News for Lifetime Mortgagers, Bad News for First Time Buyer
The Office for National Statistics show that house prices across the UK are rising by £1,000 per month. Property price inflation has picked up since summer which can bring about mixed emotions, as it’s bad news for first time buyers yet great news for Modern Lifetime Mortgagors.
Consequence of house prices going up, there will be more equity in your home as the years pass. This is advantageous for those of you who want to leave an inheritance whilst achieving the things you want with additional finance using a Modern Lifetime Mortgage.
In addition, should you choose a Lifetime Mortgage, increasing house prices will counter-act some of the interest that accrues in the process, meaning there will be more equity remaining in the estate when you sell, pass away, or go into long-term care.
The rise in house prices highlights the wise decision you made in purchasing your home. Unfortunately, inflation makes homeownership difficult for first time buyers. With over two thirds of parents helping their children onto the property ladder, you could consider using the increased equity in your property to give your children a hand onto the property ladder.
By using a Lifetime Mortgage, you can access your property wealth, tax free, with no monthly repayments unless you chose so. By being proactive you can find out all you need to know to make an educated decision regarding your equity release. We offer a no obligation face to face service. Call us on: 0800 652 2955 for more information.
This is a Lifetime Mortgage and will reduce the value of your estate and can affect your entitlement to means tested State Benefits. To understand the features and risk, ask for a personalised Illustration.
 This is Money, (2015).