You may have read Responsible Equity Release in the newspapers talking about the interest only mortgages that are coming to an end without a suitable repayment vehicle to settle the outstanding amounts. Fortunately for the 24,000 people plus who have this problem, a lifetime mortgage could be the solution. An equity release plan of this nature can be the repayment vehicle that these interest only mortgages are missing.
We have raised awareness through the media outlets and we hope that those who are struggling to repay their interest only can switch their mortgage over to a lifetime mortgage, ensuring they have the right to stay in their property as long as they live.