Lifetime mortgage
You worked hard to buy your home. Is it working hard for you in retirement?
Are you retired or approaching retirement? Are you perhaps facing a stark time in retirement because you have insufficient funds? Don’t worry as there is a potential solution: a lifetime mortgage or equity release.
A lifetime mortgage enables you to take advantage of the equity in your home without having to sell your home and without having to make mortgage repayments. You can take money out as an income or a lump sum or a combination of both. You, of course, incur interest on the loan but this is simply added to the loan, which is repaid when you die or move into long-term care.
Equity release is a complex area needing specialist advice. If you are interested in this area Advoco has the expertise to help you.