How much could I release with a lifetime mortgage?
If your adviser considers a lifetime mortgage as the most suitable option for you, you may be able to unlock thousands in tax-free cash from your home’s value. The amount you can release depends on your age and how much your home is worth. On average customers released 23%* of their property value in the first half of 2023. Generally, the older you are, the more you can release. This map shows the average release
amount by region. *Key H1 Market Monitor, 2023
How would you spend your tax-free cash? If you’re considering releasing a cash lump sum, you’ve probably already got an idea of how you want to spend it. Here are some of the ways you could spend the money you access through later life finance.
£65,482
£51,815
£58,889
£62,124
Paying off an existing mortgage
Gifting money to family
Going on holiday
£61,795
£68,469
£74,438
£63,664
£61,989
£166,162
Clearing existing credit cards and loans
Replacing the car
Making home and garden improvements
£95,692
£83,878
Things to consider You should always think carefully before securing a loan against your property to repay existing debt.
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