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For today's interest rate, your free guide or to find out exactly how much you can release call up on 0800 524 4853 manned 24/7 in partnership with personal touch equity release services |
What are the types of equity release?
A lifetime mortgage allows you to obtain a loan on your property but you retain full ownership of the property.
The loan is normally taken out as a cash lump sum. There are two main types of lifetime mortgages:Roll-up Lifetime Mortgages
A roll-up lifetime mortgage allows you to borrow money secured against your home. Fix Repayment Lifetime Mortgage
With a fixed repayment mortgage, the amount you repay is set from the outset of the plan. Home Reversion Schemes
A home reversion scheme involves you selling part or all of the value of your property to the equity release provider in exchange for a lump sum. Implications
- Equity release could affect your entitlement to some state benefits and may affect your tax position.
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How much can you release?
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| Any information contained herein is a personal opinion of the author and should not be considered to be advice of any kind.
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