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We tend to find with older applicants that equity release comes in the form of a Lifetime Mortgage. To qualify for a Lifetime Mortgage, you will have to be over the age of 55 years old. Since releasing equity is a specialist subject and it should be done right; speak to an equity release mortgage advisor in Leicester today.
Usually, people pay off their Lifetime Mortgage whilst living inside the property, in long-term care, or letting the loan amount build up with interest. You’ll be making the decision to decide which route is best to take. Depending on your circumstances, you may plan to use the equity in a completely different way to someone else. It’s entirely up to you how you use the money.
Before applying for a Lifetime Mortgage, check your eligibility and check to see if you meet the requirements. Two of the main factors are your age and the value of your property. The loan only becomes repayable once you are dead or have moved on into long-term care, unable to live independently.
We would strongly recommend booking your free initial mortgage appointment to speak with a trusted mortgage broker in Birmingham. They will be able to see whether you qualify or not for Equity Release and whether it is possible in your personal and financial situation.
To understand the features and risks, ask for a personalised illustration. Equity Release may come in the form of a lifetime mortgage or home reversion plan.
A lifetime mortgage may impact the value of your estate and it could affect your entitlement to current and future means tested benefits. The loan plus accrued interest will repayable upon death or moving into long term care.
A home reversion plan involves selling all or part of your home to a plan provider in exchange for a tax-free lump sum.
When looking at this for an option here are a few things to consider. You must be at least 55 years old to qualify for Equity Release, and your age and the value of the property can affect how much you can withdraw from your home.
For further mortgage advice in Leicester regarding Equity Release, it is worth seeking out a Specialist in the field. Get in touch with a Mortgage Broker in Leicester, and we will be open & honest and find you the help you need.
To understand the features and risks, ask for a personalised illustration. Equity Release may come in the form of a lifetime mortgage or home reversion plan.
A lifetime mortgage may impact the value of your estate and it could affect your entitlement to current and future means tested benefits. The loan plus accrued interest will repayable upon death or moving into long term care.
A home reversion plan involves selling all or part of your home to a plan provider in exchange for a tax-free lump sum.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The fee is up to 1% but a typical fee is £995.
You should always think carefully before securing a loan against your property.
A lifetime mortgage will reduce the value of your estate and may affect your entitlement to means tested benefits.
Clearing existing mortgage with a lifetime mortgage may result in higher cost of borrowing.
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It was smooth, took all the stress of reseaching the best mortgage. Easy access to appointments. TOM was great and understanding
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Bhaven
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2 years ago
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Charlie was very easy to talk too and made things easy and simple to understand and explained our options in detail which really helped us through the process as first time buyers.
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Jason and his colleagues at UK Moneyman have been amazing from the start. When we began the process of house buying and finding a mortgage we knew very little, but Jason explained much to us in a telephone consultation and outlined all our options....
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Leo Shakespeare and Stacey Jopling has work long side each other to made this entire journey extremely smooth and informative as a first time buyer. His service has been phenomenal. I had been rejected from many other brokers and banks and he...
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Fantastic experience. Charlie helped me race through to secure the most suitable mortgage offer, best plan for life and critical illness insurance. Very approachable and responsive even with any queries I had after everything was completed.
6 months ago
When you schedule a free initial mortgage appointment with our later life mortgage advisor in Leicester, we’ll delve into a comprehensive conversation centered around your objectives and inheritance strategies.
Although equity release and lifetime mortgages remain valid considerations, we view them as options of last resort. Our philosophy revolves around finding a more tailored and suitable alternative that aligns precisely with your individual circumstances.
Given the significance of later life mortgages, we highly recommend involving your family members or trusted individuals in our discussions. Their input and support can be invaluable in making informed decisions.
Should we determine that equity release is either suitable or unsuitable for your needs, rest assured that our well-informed later life mortgage advisors in Leicester will guide you towards the appropriate services. These services can provide further assistance in devising and solidifying your plans, ensuring you have a well-rounded approach to your financial future.
Looking into Equity Release Mortgage Advice in Leicester has never been easier, our team can check whether you are eligible to release equity from your property after you have booked your free initial mortgage appointment with a member of our team members. Subject to availability you can choose a date and time that suits you!
As an expert Mortgage Broker in Leicester, we have access to a vast panel of lenders, some with specialist products. We can search through 1000’s of deals to find one tailored for you. If we encounter any hurdles along the way, we will try and overcome them together.
Our experienced mortgage advisors in Leicester are even able to help with various other services when applicable for us to do so, such as referring you to a trusted conveyancing solicitor.
We have worked in this industry for over 20 years, our team is dedicated and responsive and want you to receive the best service possible during your dealings with us. We can’t wait to hear from you!
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Leicestermoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Leicestermoneyman 2009–2026
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Leicestermoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Leicestermoneyman 2009–2026
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