Equity Release – Lifetime Mortgage

What is Equity Release?

Equity release is a way of freeing the money tied up in your home without having to move. You must be 55 or over.

Do you provide Equity Release Advice?

There are 2 main types of Equity Release – Lifetime Mortgages and Home Reversion Plans. At Peritus, we provide advice on Lifetime mortgages. The money can be taken as a lump sum or as a series of smaller amounts after an initial lump sum. 

What is a Lifetime Mortgage?

• This type of mortgage releases money, or equity, tied up in your property.
• You can either opt to pay interest on the capital taken on a regular basis or let the interest  ‘roll-up’.
• Lifetime mortgages can allow you to take a regular income or a lump sum or even several lump sums over the term of the scheme.
• The money released can be used for any purpose.

Why might you consider a Lifetime mortgage?

• To top up your pension income
• Assisting your family with a deposit for a house
• Planning to go on a special holiday or trip
• To make improvements or changes to your property
• To pay off existing debts, i.e. mortgages, loans, credit cards.

Important points to consider.

Whilst taking out an equity release plan does give you a boost to your finances,  it is also vital that you are aware of the consequences. Home reversion plans and lifetime mortgages are complex products. A lifetime mortgage is a loan secured against your home. To understand the features and risks, ask for a personalised illustration. Equity release will reduce the value of your estate and may affect your entitlement to means tested benefits.

Call 0203 745 5893 for a free, no-obligation chat about Lifetime Mortgages. info@peritus-group.co.uk

To read more about Equity Release please download our FREE PDF guide or read more about finding the right advice on our News Page.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Home reversion plans and lifetime mortgages are complex products. A lifetime mortgage is a loan secured against your home. To understand the features and risks, ask for a personalised illustration. Equity release will reduce the value of your estate and may affect your entitlement to means tested benefits

Our initial consultation is free and then if you wish to proceed, there will be a fee payable upon application for our Lifetime Mortgage Service. We will also receive a commission from the lifetime mortgage lender. Full details available on request.