Lifetime Mortgages
Lifetime Mortgages allow you to free up a substantial part of the capital in your home without having to move.
As most people approaching retirement are younger, fitter and lead fuller lives than ever before, retirement opens up a whole new way of life and releasing equity from your home can give you the money to help make the most of your retirement so that you can have the benefit of cash to spend now on whatever you like, without having to leave your home.
Some of the most popular uses of money from Lifetime Mortgages have been:
- Home Improvements
- Increasing monthly income
- Going on holiday
- Family gifts
- Inheritance tax planning
There are two basic types of Lifetime Mortgage solutions:
- Lifetime Mortgages – these are loans secured against your home
- Home Reversion Plan – this lets you sell all or part of you home to a reversion provider.
In either case you can live in your home as long as you wish, you can move house as long as you let the provider know and the new home meets their conditions.
Neither you nor your family would be liable for any negative equity there may be when the house is sold.
There are many plans in the market place and Kite Mortgages as Independent Mortgage Advisers, are in a position to recommend the plan that best suits your needs. We firmly believe that it is essential to involve your immediate family and solicitor in the decision making process.
For an initial FREE assessment meeting call George Hunter on 0845 838 2773 or 07860 382 438
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