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01228 882 880
Call Us Now
01228 882 880
FOR INFORMATION ONLY - WHILST WE DO NOT ADVISE ON THIS AREA WE CAN REFER TO TRUSTED THIRD PARTIES SO THAT WE CAN PROVIDE A FULL, HOLISTIC SERVICE TO OUR CLIENTS.
A lifetime mortgage is a form of equity release scheme whereby a loan is secured against your property, providing you with a tax-free cash lump sum or a regular income to spend as you wish.
Interest is added to the lifetime mortgage loan throughout your lifetime, accruing at a fixed or variable rate. The loan plus interest is eventually paid back when the home is sold which could be when you move into long term care, or when you and your partner die. Subject to your age you can typically release between 18-50% of the value of your home with a lifetime mortgage.
Please note: You can get interest only lifetime mortgages wherein you pay interest monthly, but lifetime mortgages are mainly offered as 'rolled up' interest. 'Rolled up' interest is paid off all-together in one final payment along with the total amount of your loan when your property is sold, as described above.
A LIFETIME MORTGAGE CAN QUICKLY ERODE THE REMAINING EQUITY AND AS A RESULT THERE MAY BE NO VALUE LEFT TO PASS ON.
THIS IS A LIFETIME MORTGAGE. TO UNDERSTAND THE FEATURES AND RISKS, ASK FOR A PERSONALISED ILLUSTRATION.
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CONTACT US
CMD Financial Solutions Ltd
39 Lowther Street
Carlisle
Cumbria
CA3 8EP
T: 01228 882 880
F: 01228 882 889
Email Us
CMD Financial Solutions Ltd is an appointed representative of Openwork Limited, which is authorised and regulated by the Financial Conduct Authority. Openwork Limited is entered on the Financial Services Register (www.fca.org.uk/register) under reference 408285.
The information on this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.
Registration Address: 39 Lowther Street, Carlisle, Cumbria CA3 8EP
Registration number: 06650508 - Registered in England & Wales
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