One of our two primary options for clients taking up an Equity Release Scheme, Lifetime Mortgages involve you taking a loan against the value of your property, however, you still retain ownership of the property.
There are no obligatory payments to be made and the loan is redeemed by selling the property when you pass on or move into long-term care.
Of course, with lifetime mortgages, you will fully retain your legal title to the home for as long as you live there and retain the responsibilities of owning it.
Legal & General have some short but very useful animations that help explain just what a lifetime mortgage is for beginners, which you can find on their website.
Contact Us for unbiased lifetime mortgage advice
Please call us for more information and assistance with our equity release schemes. We at Essex Equity Release Advice will assist you with queries relating to Lifetime Mortgages or any other kind of Mortgage Advice. We serve the whole of Essex & hold interviews in your own home, our Office in Benfleet or at our Local Interview Rooms in Basildon, Billericay, Brentwood, Burnham on Crouch, Chelmsford, Epping, Romford and Burnham on Crouch (subject to availability). Alternatively drop us an email and we will be happy to help.