Lifetime Equity Release
A Lifetime Mortgage is a type of equity release mortgage and is secured against your home allowing you to release tax-free cash.
Lifetime Mortgages are generally available to homeowners aged 55 but contact me if you are younger. You may be able to access money as a lump sum and with a drawdown facility if you want to access further funds in the future . The mortgage dosn’t have to be fully repaid until until you die or move permanently into long-term care.
The facility is available to pay off some or all of the monthly interest which would reduce the amount of interest added over the lifetime of the mortgage and reduce the amount you’ll owed. With product features improving year on year there are now products available without early redemption penalties so the mortgage can be cleared without penalty.
This can be used to pay off an existing mortgage, for home improvements, gifting money to a family member or various other reasons.
I'm proud to be a member of the Equity Release Council
The Equity Release Council is a voluntary trade body whose mission is to help more over 50s to make informed choices about their property wealth by championing trusted and transparent products and advice.
Going over and above regulation to provide added protections, the Council’s Standards ask members to act with professionalism and integrity, providing trusted, transparent, tailored, and thorough advice and support.
You can trust that they you will receive tailored, thorough and transparent support designed to help you make the right choice for your individual circumstances and get the most out of any products available.
Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. Please note that some mortgages such as commercial BTLs are not regulated by the FCA.
Equity release may involve a lifetime mortgage or a home reversion plan. To understand the features and risks, ask for a personalised illustration Equity release may impact the size of your estate and it could affect your entitlement to current and future means-tested benefits
Philip McCarthy is an adviser with Julian Harris Financial Consultants Harris, which is authorised and regulated by the Financial Conduct Authority No. 153566 Co No. 3927189. Registered office: Julian Harris House, Musgrove, Ashford, Kent. TN23 7UN The Financial Ombudsman Service (FOS) is an agency for arbitrating on unresolved complaints between regulated firms and their clients. Full details of the FOS can be found on its website at www.financial-ombudsman.org.uk. The guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK
