The Lifetime mortgage provides protection for you or joint applicants for the rest of your life, the

lender is not providing you this loan based on your income.

The retirement Interest only option along with traditional options would require a fixed payments

and if you make the payment on time every month you will not face a repossession situation.

You have several options available to you. The Lifetime Mortgage known as Equity release, A

Retirement Interest Only Mortgage also known as a Later life mortgage or traditional based lending

options.

This differs due to the different products, in brief –

Lifetime mortgage lenders base their lending amount on your age, the value of the property, your

health and location. The amount you borrow also changes the level of interest you are charged.

This type of plan is not income based.

Retirement interest only mortgage lenders – These lenders look at your overall financial position

and mostly focus on retirement income. They focus on your income today and if you’re making a

joint application, they look at your survival income situation (this been should one applicant pass

away). In some cases, if you have other incomes such as rental income or income from business,

other property, family, investment income – some unique lenders will take this into account. The

calculation typically used by the lender is 4.5 times income or 4.5 times the survival income.

Use our Search Equity Release Later Life lending calculator and we can help you gain quick

calculation figures – www.searchequityrelease.com

You do not have to make payments to a lending option, if following advice this is the route you

prefer. Lenders allow you to make payments to the interest, part payments and they also do not

require you to make a payment.

Yes, your home is at risk of repossession if you do not make the payments agreed at the outset of

the mortgage.

No, these plans are manufactured to last a lifetime, and this has a retail cost to the lender, if you are marking the interest rates against that of your son/daughter/younger friends mortgage then they can seem higher than standard rates, but please call me to discuss – 0113 414 7664.

Lifetime mortgage interest rates are all fixed for a lifetime, there is no other choice.

Retirement interest only mortgages have various fixed rates that last a lifetime or alternatively 2 – 5-

year fixed rates. Some lenders even provide variable interest rate on some of these mortgages.

Yes, absolutely at any time!

Lifetime mortgage lenders typically have early repayment charges that run from 5 years up to 15 years, so it’s important we look at these penalties for you. The lowest penalty in the first 5 years for a lifetime mortgage is circa 5% when using favourable interest rate plans.

Retirement interest only lenders typically have lower charges for a reduced amount of time, these charges only last as long as the fixed interest rate applicable.

Yes, we would need to review individual plans to make sure you had taken the correct advice and product.

Yes, we would need to review individual plans to make sure you had taken the correct advice and product.

This all depends on the advice and the options you have available – we don’t recommend mortgages as short-term options, but we have helped some clients with shorter terms where it was the correct advice for them – email to book an appointment – [email protected]

Yes, most plans are fully portable if you should wish to move. We would need to review a lenders terms and conditions as part of the advice process.

Yes, most plans are fully portable if you should wish to move. We would need to review a lenders terms and conditions as part of the advice process.

Yes, any form of capital provided to you whilst in receipt of means tested benefits could impact your ongoing ability to claim these benefits. We discuss this in full with you to understand the current financial position. We have past clients that have taken a lending option without any impact on their means tested benefits situation, call to discuss on 0113 414 7664.

There are many options for people with credit rating issues within this sector.

Yes, its possible that a poor credit score or issues with previous payments could impact the eligibility of your Retirement Interest only mortgage enquiry.

Yes, with good advice, some clients have borrowed monies from equity release to repay their debts and reduce their outgoings..

Yes, with good advice, some clients have borrowed monies from equity release to repay their debts and reduce their outgoings.

Yes, there are options available to assist you in this scenario – call to discuss on 0113 414 7664.

Yes, there are lenders that will consider this scenario.

Yes, Search Equity Release provides all the upfront information & advice free of charge.

No, we help and guide you very quickly, we can provide interest rates to help you understand the cost of borrowing very effectively and efficiently.

No, we help and guide you very quickly, we can provide interest rates to help you understand the cost of borrowing very effectively and efficiently.

Search Equity Release provide advice to your preference – on the telephone, video calls or even face to face.

Search Equity Release provide advice to your preference – on the telephone, video calls or even face to face.

We complete a questionnaire with our clients to understand their short - medium - and long-term goals. We complete this because we care about your outcome. We will help and guide you through a full meeting like this, we do ask information about income and outgoings as this helps us provide relevant advice. We also ask you information about savings & other assets, because we wouldn’t want to provide you a lending product if you already had available funds and it was preferential to use them.

We complete a questionnaire with our clients to understand their short-, medium- and long-term goals. We complete this because we care about your outcome. We will help and guide you through a full meeting like this, we do ask information about income and outgoings as this helps us provide relevant advice. We also ask you information about savings & other assets, because we wouldn’t want to provide you a lending product if you already had available funds and it was preferential to

use them.

You can use our free Later Life lending calculator on the website – www.searchequityreease.com

Our new functional Later Life lending quiz completed by you, helps you understand, the considerations when looking at later Life lending. We promise to provide you a personalised overview without collecting personal data from you, you only need to answer Yes / No - a first I would say!

Yes, we are happy to discuss the case with anyone you provide us authority to discuss the case with. Search Equity Release openly welcome friends and family discussing the case with us to protect you.

Martin Lewis does not explicitly recommend equity release, but does say that in certain circumstances, it may be a good way to access money tied up in your home to help you enjoy a more comfortable retirement. Whether it's right for you though will depend on your personal and financial circumstances.

Our videos are on our website, Facebook, LinkedIn in and YouTube.

You can call me at any time on 0113 414 7664 or alternatively my mobile 07853 277369

You can email me at – [email protected]

At any time, open all hours.