You are here: Home > Mortgages > Raising Capital > Equity release
Equity release mortgages and lifetime mortgages
Your home is probably your greatest single asset. How unfortunate then that such an asset is made of bricks and mortar and not pounds and pence. Wouldn't it be nice to unlock some of that value so you may enjoy it?
Today more and more people are discovering that they may easily release some of the equity tied up in their home without having to sell the home they enjoy so much by using equity release loans and lifetime mortgages.
Equity release mortgages and lifetime mortgages
With an equity release mortgage you will raise a mortgage on your property for part of its value but you will not be required to make any payments towards the mortgage. Accruing interest is added to the capital sum and is repaid when the property is eventually sold.
A lifetime mortgage is a term adopted by the Financial Services Authority FSA as these types of loans are now regulated by the FSA, giving greater protection to consumers. Essentially, lifetime mortgages and equity release mortgages are one and the same.
To be eligible for an equity release loan you need to be aged over 55 and be a UK homeowner. The amount you can borrow under an equity release loan will depend broadly on your age and your property value, including any outstanding mortgages.
If you would like further information and advice on equity release plans, please complete the enquiry form below. We will then arrange for a specialist equity release adviser to contact you.
Related phrases: lifetime mortgages, lifetime mortgages uk, flexible lifetime mortgages, equity release lifetime mortgage, interest only lifetime mortgage, northern rock, prudential, equity release mortgage, equity release uk, equity release loan, equity release services, equity release schemes, equity release plans, home equity release loan, equity release loan uk