Mark Reynolds Equity Release Specialist
Email: email@example.com | Call: 01244 322 199 or 07985 903 620
How do I pay back the money I’ve borrowed through an equity release plan?
The loan and any interest is usually repaid from the sale proceeds of the property.
Key facts about repaying a lifetime mortgage:
- The loan is usually repaid after the last survivor, in joint life cases, has left it, as they have either died or moved in to long term care
- It may also be possible to repay the loan whilst living in the property, by means of a windfall or by downsizing
- Early repayments are subject to potential redemption penalties (dependent on which plan you have taken out)