Becoming much more relevant now with the population living longer, this a way for people over 60 to release a lump sum or have a regular monthly income from the equity in their property that does not involve selling part of it.

Lifetime mortgages do not have a monthly payment as the interest is rolled up into the mortgage. The recent increases in house prices now makes lifetime mortgages an integral part of many inheritance tax planning strategies.

There are two types of Equity Release Plans, Lifetime Mortgages and Home Reversion Plans. Both work in very different ways.



The criteria varies between lenders with some only  providing a lump sum and some able to provide a lump sum and a regular drawdown facility.

An Equity Release scheme can give you the financial freedom to enjoy life. It is a way of raising cash using the value of your home. You can use it any way you like and there is no need to move out of your home.

You should always be sure you get proper advice before taking out an Equity Release scheme, as it is not right for everyone. Mortgage Concepts Associates are qualified Equity Release advisers and will be happy to discuss alternative options with you to ensure that either a Lifetime Mortgage or Home Reversion is the right choice for you