Advisory Financial Services are now able to offer you advice on lifetime mortgages. We understand that many older homeowners have thousands of pounds tied up in the value of their home. We also know that as people approach retirement they often face the prospect of living on reduced incomes and have concerns as to how they will maintain their lifestyle.
A lifetime mortgage may be a potential solution as it allows you to release a tax-free cash sum from the value of the property without having to worry about making monthly repayments.
You would have the freedom to spend the money as you choose such as for topping up your retirement income, to carry out home improvements, improve your standard of living or help your children or grandchildren onto the property ladder or even that dream holiday.
You can either choose to receive a one-off lump sum payment, or choose to receive a smaller lump sum and set up a cash reserve to draw from when you wish.
The interest payable on the loan is added to the amount borrowed and is only repayable on your death or your entry into long term care. You maintain a guaranteed right to continue living in your property and the amount to be repaid will never exceed the value of your home.
As with any critical financial decision, it is very important to take advice from a company with expertise in this area. Our fully qualified professional will carry out a full assessment of your circumstances and will tailor their recommendation to meet your specific needs.
Entering into a lifetime mortgage will reduce the amount of inheritance you can leave behind. It may also affect your tax position and eligibility for welfare benefits.
To find out whether a lifetime mortgage is right for you visit http://www.advisoryfs.co.uk/contact/to request a call back or call 03334 453 011
A lifetime mortgage is a long term commitment which could accumulate interest and is secured against your home.
Equity release is not right for everyone and may reduce the value of your estate