Equity release also known as later life lending or a lifetime mortgage, is a way for those aged 55 or over to take tax-free funds out of their home, without having to move.
A lifetime mortgage is a long-term loan, secured against your home that's repaid once you (and your partner, if you’ve taken it out jointly) pass away or need to go into long-term care, at which point the loan and any built up interest is paid back, usually from the funds of your home’s sale.
Entering into a lifetime mortgage (or any form of equity release) will reduce the amount of inheritance you can leave behind. It may also affect your tax position and eligibility for welfare benefits.
The amount you can borrow is based on things like:
A lifetime mortgage is a long-term commitment which could accumulate interest and is secured against your home. Equity release is not right for everyone and may reduce the value of your estate.
At Luke Fernandez Mortgages we are specialists in later life lending, also known as equity release mortgages or lifetime mortgages, which are designed to help you unlock equity from your home.
As a Later Life Lending Specialist, we will provide you with a fully personalised advice service, reviewing all the options available to you and guiding you from start to finish.
Releasing equity is a big decision and commitment, so we will discuss the reasons to ensure that you’re doing it for the right reasons.
Some of the most popular reasons for taking out a lifetime mortgage are:
We will take the time to understand your needs, ensuring we find and recommend the right solution for you.
Equity release can offer your the flexibility you require, such as:
It's free to chat with us, if you are happy with our recommendation and you decide to use our service, our typical fee is £395.
This is only becomes payable once we have obtained a formal mortgage offer from the recommended lender.
If you decide not to apply or we can't get the right mortgage for you, then there will be no fees payable.
No Mortgage Offer, No Fee.
So we can support in the most efficient way please complete some basic information on our Client Portal and we will call you back to arrange an appointment.
Call us: 01420 467460 Text us: 07458 195056 Email us: Luke@lukefernandezmortgages.co.uk
Open today | 09:00 – 17:00 |
We typically charge a fee of £395 for our service, which is payable upon your mortgage being offered.
The guidance provided within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.
Luke Fernandez Mortgages is an Appointed representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority.
Your home may be repossessed if you do not keep up with your repayments on your mortgage.
Registered Company Number: 13537486
Registered Address: 70 Frimley Grove Gardens, Frimley, Camberley GU16 7JY.
FCA Registered: reference number: 959731
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