top of page
Search

Equity Release for Interest Only Mortgage ending

Writer: Lyn PalmerLyn Palmer
6 days ago1 min read

🌟Great to receive this lifetime mortgage offer for clients who have an interest-only mortgage ending but no repayment vehicle.

 

🤝They have chosen to pay the monthly interest and make monthly overpayments to reduce the debt.

 

💡The total monthly payments of both the interest and the overpayments for the lifetime mortgage will match what they’re currently paying purely for the monthly interest on their interest-only mortgage which is ending.

 

🎉So, no increase in monthly payments for them, an interest rate fixed for life, and, as long as they make all the monthly payments of interest and overpayments, it will be fully repaid in 10 years 9 months!



Equity release offer received for clients with an interest only mortgage ending




 
 
 

Comments

Let's Connect

Email: Lyn@simplifiedequityrelease.co.uk

Phone: 07887 885182

ERC_Endorsement_Logo_RGB_embargoed-to-March-30-2021-1.png

By submitting these details, you consent to us contacting you via email and telephone, in relation to products and services relevant to your enquiry. Please see the privacy policy for further details

Thanks for submitting!

  • LinkedIn
  • Instagram
  • TikTok
  • Twitter
  • Facebook
Simplified Equity Release has no control or responsibility for the pages you are about to access or where any subsequent link may take you

Equity release may involve a home reversion plan or a lifetime mortgage, which is secured against your property and will reduce the value of your estate and impact funding long-term care.

 

Equity release requires paying off any existing mortgage. Any money released, plus accrued interest would be repaid upon death, or moving into long-term care.

​

With a lifetime mortgage, if you don't make repayments interest will roll up over time.  This will increase the size of the debt and will reduce the amount left that will be left to your beneficiaries when you're gone.

 

We provide initial advice for free and without obligation. Only if your case completes would our advice fee of £1,695 be payable. Other lender and solicitor fees may apply.

​

Simplified Equity Release is a trading name of Equity Release Associates Limited, which is authorised and regulated by the Financial Conduct Authority. FCA registered number 932793. Company registered in England and Wales number 12258392. VAT Registered Number 365 5888 43. Registered address, 2200 Century Way, Thorpe Park, Leeds, LS15 8ZB.


The information on this website is intended for guidance purposes only and does not constitute
advice. Furthermore, the information on this website is subject to UK regulatory regime and is
therefore intended for consumers living in the UK only. We are not responsible for the content in
any links to 3rd party sites.

bottom of page