Watch our video to learn more about the benefits and drawbacks of equity release
Drawbacks A lifetime mortgage is a loan secured against your home and subject to compound interest, meaning the amount you owe can grow quickly Equity release will reduce the value of your estate and may affect your entitlement to means-tested benefits Equity release may leave you with limited or no property equity remaining and reduce your financial options in the future A lifetime mortgage is a long-term financial product and is not designed to be fully repaid until the death or entry into long-term care of the last remaining borrower, otherwise early repayment charges may apply With a Payment Term Lifetime Mortgage, your property can be repossessed if you don’t keep up with agreed payments until aged 66
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