Help us calculate the potential equity available in your property.



  


  



We will not sell your data and it will be held in accordance with the Data Protection Act 1998. Please see our privacy policy for full details.

There are three main types of lifetime mortgages:

Roll-up Lifetime Mortgages

A roll-up lifetime mortgage allows you to borrow money secured against your home.

You receive an agreed sum against the value of your property and interest payments are added each year to the loan.

The total amount repaid to the provider when the property is eventually sold is the initial loan amount plus any accumulated interest.

For most plans the interest rate is fixed and will not change during your lifetime.

Click here to find out more about Lifetime Rollup Mortgages


Drawdown Lifetime Mortgage


Works the same as a roll-up lifetime mortgage except you can choose to release the money flexibly, as and when you need it.

You can shoose to have money in a reserve account, ready to drawdown.

Interest will not accrue on the money held in reserve until you have released it.

Allows you to reduce the interest charge and have the safety of a cash reserve, ready to draw upon when needed.

Click here to find out more about Drawdown lifetime Mortgages

Interest Only Lifetime Mortgage


As with the Roll-up and Drawdown lifetime mortgages, you receive a cash lump-sum and maintain 100% home ownership.

Unlike the others, though, you can choose to pay the interest on a monthly basis.

In fact, you can choose to pay anything from £25 per month up to the full amount of interest due. Any interest you do not pay will accrue as with the Roll-up lifetime mortgage.

You can decide how long you want to pay interest for (for example, 1 year, 5 years or even up to the lifetime of the loan).

If you decide you don't want to make monthly payments any more, you can stop and the plan will change to a regular Roll-up lifetime mortgage.


Click here to find out more about interest only lifetime Mortgages

Home Reversion Plans


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.

The cash lump sum that you would receive is not a representation of the full market value of the property. This is because you will continue to live in your home with no rent for the duration of your life. The provider will only receive a return on their investment after your death, or when you decide to leave, for example to move into residential care.

If you only sold part of your property to the provider, then after your death the home would be sold and the part you retained will be passed to your estate, the remainder will go to the plan provider.



Implications

- Equity release could affect your entitlement to some state benefits and may affect your tax position.

- All equity release plans will reduce the value of your estate.

Contact Us - Privacy Policy

Responsible Equity Release, Responsible Life, Unit 11, 4A Mills Bakery, Royal William Yard, Plymouth, PL1 3GE, UK

Exciting career opportunities available within Responsible Equity Release - 0800 012 4181


Refer Business To Responsible - 0203 384 6122

I/we expressly consent to be being contacted without prior notice or arrangement by using the contact details I/we have provided on the form and further consent that such contact may be in relation to (a) my/our mortgage arrangements and/or (b) other products and services



We provide initial advice at no cost and without obligation. If you choose to proceed and your case completes we charge a fee of £1095 on completion of the case and we will also be paid commission from the lender.

Any information contained herein is a personal opinion of the author and should not be considered to be advice of any kind The guidance and/or advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers absed in the UK.

Please be aware that by clicking on the above links you are leaving the Responsible Equity Release website. Please note that Responsible Equity Release are not responsible for the accuracy of the information contained within the linked site(s) accessible from this page.

Responsible Equity Release is a trading style of Responsible Life Limited. Responsible Life Limited is authorised and regulated by the Financial Conduct Authority. Registered Office : Unit 8, ABC Killinghall Stone Quarry, Ripon Road, Harrogate, HG3 2BA. Registered in England & Wales. Company number 7162252.

In using this website I give express consent to Responsible Life Limited to call me on the number provided from time to time. Calls may be recorded for training and quality purposes.