Lifetime Mortgage

“We are a member of the Equity Release Council which means that you can trust our lifetime mortgage advice.”

exchange wealth management mortgages equity release protection insurance financial planning liverpool merseyside

Ian Ward CeMAP CeRER

Director

exchange wealth management mortgages equity release protection insurance financial planning liverpool merseyside
exchange wealth management mortgages equity release protection insurance financial planning liverpool merseyside

If you are researching equity release for yourself or on behalf of a friend or relative, then you may already know that it allows individuals aged 55 and over to release money from the property they live in without having to make any monthly payments.

Equity release can be an attractive option for those aged 55 or over as it can help to pay for:

  • Home improvements or adaptations to help you live in your home independently for longer
  • Any outstanding debts such as mortgages, credit cards or personal loans
  • Help around the home including domiciliary social care
  • Big ticket items such as a new car
  • Helping your children and grandchildren with deposits on a house or university fees

At Exchange Wealth Management Limited our advisers are experienced in and qualified in providing advice on equity release. We are also members of the Equity Release Council. If you or a relative are considering equity release as an option, one of the first things you should do is talk through your plans with a qualified equity release mortgage adviser. Your initial consultation should be free of charge to help you consider and understand the options available to you.

There are two different types of equity release; Lifetime Mortgages and Home Reversion plans. Both are regulated by the Financial Conduct Authority.

There will be a fee for lifetime mortgage advice. The precise amount will depend upon your circumstances but we estimate that it will be £995.00. To understand the features and risks ask for a personalised illustration.

What is a Lifetime Mortgage?
Types of Lifetime Mortgages
Do you need a lump sum or income?
Planning for the future
Talk to Us

What is a Lifetime Mortgage?

A lifetime mortgage can boost your income later in life by allowing you to release some of the equity held in your property. With a lifetime mortgage, you can borrow against the value of your home very much like a standard residential mortgage. A lifetime mortgage is a secured loan on your home which does not need to be paid until you die or go into long-term care. With a lifetime mortgage you free up some of the wealth you have tied up in your home and you can still continue to live there.

Types of Lifetime Mortgages

There are two different types of lifetime mortgages. We can help you understand the difference between the two and advise you on which one to choose.

  • An interest roll-up lifetime mortgage: with this type of loan you receive a lump sum or are paid a regular amount, and you are charged interest which is added to the loan. This means you don’t have to make any regular payments. The amount you borrowed, including the rolled-up interest, is repaid at the end of your mortgage term when your home is sold.
  • An interest-paying lifetime mortgage: with this type of loan you receive a lump sum from the lender and make either monthly or ad-hoc payments. This reduces, or stops, the impact of interest roll-up. Some lifetime mortgage agreements also allow you to pay off capital, if you so wish. The amount you borrowed is repaid when your home is sold at the end of your mortgage term.

Do you need a lump sum or income?

This is something you will need to consider when taking out a lifetime mortgage. You might need a lump sum now but you may also like the flexibility of drawing down regular or occasional amounts as you need it. The way in which you borrow the money has an impact on the interest to repay so this is something our equity release mortgage advisers will talk through with you.

Planning for the future

You may like to share any financial plans for your home and your future with your family. We are happy to talk through the options for equity release with you in the presence of your family members. In particular this can be very important if you are releasing equity from your home to help support your loved ones with their plans. We can act as a trusted and continued source of mortgage advice for your family members.

Talk to Us

Equity release is becoming more popular as we are living longer and our lifestyles change. This does not mean you should enter into an equity release mortgage lightly. It is still a big decision to free up the wealth in your home that you have worked so hard to achieve. It may be that there are other mortgage options that you have not considered, which is one of the reasons why you should talk through your plans with a qualified and independent mortgage adviser. At Exchange Wealth Management Limited we are experienced in helping clients make decisions about finance involving their homes. If you do decide to go ahead with equity release then you can be confident that by using Exchange Wealth Management Limited you have received advice from a member of the Equity Release Council – a seal of approval for us as equity release mortgage advisers. Call, email or visit us for your free of charge consultation with one of our friendly and trusted mortgage advisers.

Get in touch with our team of experts

✓ We are members of the Equity Release Council

✓ Our Mortgage Advisers are specifically qualified in later life lending

✓ We offer independent, whole of market equity release advice

✓ Free of charge initial consultation to discuss your mortgage needs

✓ Appointments in the comfort of your own home

✓ Excellent customer service proven by client testimonials

✓ Access to equity release finance not available on the high street

✓ Peace of mind arranging your finances through a professional

✓ Confidence that we have explored all options available to you

✓ Regular updates from our customer focused and caring team


By clicking 'Submit' you consent to Exchange Wealth Management Mortgages storing and processing your submitted information so that your enquiry can be responded to.
Exchange Wealth Management Mortgages is the data controller of any personal data you provide to us. For further information on our uses of your personal data, please see our Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Menu