Category: Lifetime Mortgages

The rise of the 40-year mortgage

BBC News has reported that sales of long-term mortgages of 35 to 40 years are at record levels, and this is costing people tens of thousands of pounds in extra interest payments.

Back in 2001, most mortgages were

What happens if I want to move house?

All Equity Release Council members (formerly SHIP) allow you to move to another property as long as the new property meets the providers lending criteria. This will be dependent on the property value & each case will be considered on an individual basis. If you are downsizing, you may need to reduce part of the...

What is the minimum age to qualify for equity release?

This depends on the age of the youngest person on the title deeds & also property criteria. For lifetime mortgages the minimum age is 55 and for a home reversion plan the minimum age is 65.

Is there a minimum property value for equity release?

Typically the minimum property value acceptable in the equity release marketplace is £70,000  

Would I still own my property?

Full ownership is retained by you with any lifetime mortgage. However, please note that with a home reversion scheme you will no longer fully own the property.