Equity Release no payments required!

The good thing about Equity Release you do not have to make any payments on a Lifetime Mortgage scheme. You can if you wish make payments on many of the schemes to stop the roll up of interest up to an agreed amount each year penalty free. If you have an existing mortgage that requires you to make a payment each month by paying off this mortgage with an Equity Release Lifetime Mortgage you could be payment free.

As long as you clear your existing mortgage on completion getting the capital tax free from your main residence then equity release could be for you. You do not sell your home with a lifetime mortgage but the lender will register a charge against the property.

You also benefit from a no negative equity guarantee which ensures you never owe more than the value of your home.

By having a mortgage that does not require a payment each month gives you more of your income for you to spend on Holidays, Home Improvements, enjoying life. If no payments are made the interest will build up over time and you don’t pay anything back until the last homeowner has died or entered permanent long term care. At this point the mortgage can be paid off with the sale of the property.

Equity Release www.equityreleasemoney.co.uk

01244 322199 or 07985903620

Posted by Mark Reynolds