Release the capital from your home

with a Lifetime Mortgage

At Homeline Mortgages we pride ourselves on our exceptional customer service, being there for you when you need us, at any time in your life.

If you are now reaching pensionable age, you may be looking for ways to manage your wealth and make your money go further.

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At Homeline Mortgages we can advise you on all apsects of Equity Release (Lifetime Mortgage).

Equity Release is a means of releasing capital from your home to spend on other things. Everyone is different, and you could use the tax free cash unlocked from your home in many different ways.

  • Home improvements
  • Holiday of a lifetime or world travel
  • Purchase a new car or boat
  • Live the retirement that you always dreamed of
  • Support family members, such as a child or grandchild’s education fees
  • Provide family members with the means to be able to get a footing on the property ladder
  • Supplement your retirement income
  • Pay for care
  • Ensure that you can stay in your home for the rest of your life

If you’re a homeowner, you’ve probably seen the value in your home increase over time. Equity release allows you to tap into some of this value and release a cash sum.

  • You must be aged 55 or over, have a property worth at least £75,000 and be able to release a minimum of £15,000
  • You will have little or no mortgage outstanding. (You must use the amount released to pay off any existing outstanding mortgage)
  • You retain legal ownership of your home
  • You can safeguard a percentage of your home’s value with our inheritance guarantee

Lifetime mortgages are the most common type of scheme. These enable you to take out a loan on your property in return for a lump sum, an income or a combination of the two. You continue to own the property. Usually, you will not make monthly repayments and the debt will be repaid only when you die or go into long-term care. As there are no monthly repayments, the interest “rolls up”, and this compounding effect will quickly increase the amount you owe. The most popular sort of lifetime mortgage is the “drawdown” version, designed for those who don’t need a large cash lump sum at the outset. Instead, a pot of money is set aside for you to draw from, as and when you need it. You only pay interest on the cash you release, which could save you a great deal of money.

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

Why not get in touch and see how we can help?

Are you interested in exploring whether Equity Release is right for you? Our team of knowledgeable, friendly mortgage advisers will be happy to talk you through the various options and explain in more detail how it could be of benefit to you. Contact Us