Lifetime Mortgage Quote

Lifetime Mortgage Quote

A lifetime mortgage quote is necessary when considering equity release, enabling an individual the opportunity to extract a loan that would be protected against their home. The arrangement requires the homeowner to repay the total sum of the mortgage loan, together with interest. The arrangement from a lifetime mortgage quote will be terminated at the event of the death of the borrower, or if the borrower has been transferred to a care home for the rest of their life. Under some circumstances, the contract could be terminated sooner than any of these events take place, such as wanting to move to another home. Our advisers take pride in seeking a suitable and affordable lifetime mortgage quote for each for our clients.

When deciding on whether or not a lifetime mortgage quote is suitable for one’s needs, the individual should take into account three lifetime mortgage variations available; an interest only lifetime mortgage quote, an interest rollover lifetime mortgage quote and a home income lifetime mortgage quote.

An interest only lifetime mortgage quote enables the homeowner to repay the mortgage following the termination of the contract, yet interest must be paid during monthly periods. The homeowner is entitled to use the rest of the cash generated from the loan on his/her desires. If an individual assumes an interest only lifetime mortgage quote would be suitable to their financial and personal needs, our advisers specialise in arranging an effective and beneficial lifetime mortgage plan.

A rollover interest lifetime mortgage quote enables the borrower to repay the interest back after the termination of the arrangement, together with the mortgage debt. Interest rates may either be fixed or variable. Selecting a rollover interest lifetime mortgage quote may be risky as variable interest rates are likely to consequence in high interest rates, thus resulting in a substantial build up of interest. Younger borrowers may be more prone to increased debt, as high life expectancy indicates more years for interest to roll up. A positive aspect of a rollover interest lifetime quote is that the borrower is guaranteed lifetime occupancy in their home, enabling the borrower to leave any remaining equity with their inheritors.

A home insurance lifetime mortgage quote proposes the borrower uses the cash generated from the loan to repay the mortgage sum and interest rates via monthly instalments. The borrower may use the received cash to purchase an annuity, which provides a steady lifetime income for the borrower. The borrower may receive a level income (constant amount throughout the term), an escalating income (gradually increasing income throughout the term), and other forms of income, such as guaranteed, in advanced/arrears and a joint life income (suitable for partners). Interest rates are fixed, enabling the borrower to have an indication of how much they will pay over the course of the contract. In addition, no interest is rolled up, so the homeowner only has to pay the original mortgage at the end of the contract.

When seeking for ideal lifetime mortgage quote, an individual must first consider other solutions to generate capital or income. Our team of specialists are determined to find a suitable and cost-effective lifetime mortgage quote for each of our clients, which will necessitate their financial and personal requirements.

Interested in finding the right lifetime mortgage quote? Contact our advisers today.

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This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration.

CHECK THAT THIS MORTGAGE WILL MEET YOUR NEEDS IF YOU WANT TO MOVE OR SELL YOUR HOME OR YOU WANT YOUR FAMILY TO INHERIT IT. IF YOU ARE IN ANY DOUBT, SEEK INDEPENDENT ADVICE.