Lifetime (Equity Release) Mortgages
A mortgage secured on the clients home is used to generate capital. Interest payments are rolled-up on top of the capital throughout the term of the mortgage.
The loan is repaid from the proceeds of the sale of the property when the borrowers die or move out.
The borrowers retain legal title to their home whilst living in it.
Be sure this mortgage meets your needs if you want to move, sell your home or if you want family to inherit it. If in doubt seek independent legal advice.