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Lifetime mortgage
This is term used to describe a number of different ways of taking out a mortgage on your property to release equity but keep full ownership of your property.
The money raised is, dependant on scheme type, paid as either a lump sum or monthly income (or both). The mortgage is not required to be fully repaid during yours or the last survivor’s lifetime, and a number of such schemes require no monthly repayments.
If you prefer not to sell any ownership of your property one of these schemes may be suitable.
To find out more about each of these schemes, please visit our lifetime mortgages information page
This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration |