Lifetime Mortgage | Equity Release

Lifetime Mortgage / Equity Release

If you are interested in a lifetime mortgage, I can advise you on the perfect option to release equity. 

Equity release means using the value of your home to generate cash or income, without having to sell or move, therefore, allowing you to continue living in your existing home. In addition, you still own your home, with the amount you owe increasing over time as interest is added.

At Bespoke Home Finance, I will help find the right equity release mortgage to suit your needs, whether it be through income or a lump sum.

Is equity release right for you?

Some of the requirements that need to be met in order to release equity include having to be a homeowner and ensuring the property is in good condition. I also need to make sure there is nothing outstanding or a plan to clear the remaining borrowing. 

This method of finance requires the client to be at least 55 years of age. However, some schemes may require you to be older. 

Advantages of a lifetime mortgage

  • Equity release will boost your retirement income or help fund some goals you may have for retirement.
  • You will still own your property and can continue living on the premises.
  • You get to enjoy the equity built up in your property that can be used in a variety of ways.
  • There is no monthly payment.
  • I will guarantee that there will be no negative equity as all lenders I use adhere to the Equity Release Council Code of Conduct strict criteria.
  • You will be able to get a tailored interest rate.
  • You are able to leave part of your inheritance. 

Disadvantages of a lifetime mortgage

  • Early repayment charges could apply.
  • Your family will not inherit all the property value.
  • Added interest. 
  • There is a chance you could lose some state benefits.
  • There needs to be an initial set-up cost and details can be provided on request.
  • Compound interest will add to the debt of the equity released.

At Bespoke Home Finance, I will find a mortgage that is tailored to you and suits your needs. I always communicate with you in an easy-to-understand and jargon-free manner. 

You can count on me to provide you with honest and professional advice to get you what you need. If you have any enquiries, please do not hesitate to get in touch with us.

Additionally, if you’d like to take a look at the other services I provide expert advice on, please click here.

Advice From Bespoke Home Finance

If you are looking for trustworthy and professional expert advice to guide you every step of the way, then look no further than Bespoke Home Finance.

Furthermore, if you are looking to move home or even buy your first, I am here to help. Call me today on 0330 111 2477 or fill in the contact form below. I look forward to hearing from you and remember, there is no obligation or no high-pressure tactics.

Based in Scotland, I offer my mortgage advice services in Edinburgh, Glasgow, Scotland and all across the UK too!

company note
  • Bespoke Home Finance Ltd is an Appointed Representative of Primis Mortgage Network, a trading name of Advance Mortgage Funding Limited which is authorised and regulated by the Financial Conduct Authority.
  • This firm usually charges a fee for mortgage advice. The amount of the fee will depend upon your circumstances and will be discussed and agreed with you at the earliest opportunity. YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
  • The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.
  • The Financial Conduct Authority does not regulate all Buy to Let mortgages
  • AN EQUITY RELEASE PRODUCT WILL REDUCE THE VALUE OF YOUR ESTATE, WILL NOT BE SUITABLE FOR EVERYONE AND MAY AFFECT YOUR ENTITLEMENT TO STATE BENEFITS. TO UNDERSTAND THE FEATURES AND RISKS PLEASE ASK FOR A PERSONALISED ILLUSTRATION.
  • A LIFETIME MORTGAGE WILL REDUCE THE VALUE OF YOUR ESTATE, WILL NOT BE SUITABLE FOR EVEYONE AND MAY AFFECT YOUR ENTITLEMENT TO STATE BENEFIT
  • TO UNDERSTAND THE FEATURES AND RISKS, ASK FOR A PERSONALISED ILLUSTRATION.