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LIFE TIME MORTGAGES

At One Life Mortgages, our lifetime mortgage is a flexible and affordable way to release some of the value tied up in your home. With this innovative solution, you can access your equity while maintaining ownership of your property. 

What is a Lifetime Mortgage?
Equity release, often referred to as a Lifetime Mortgage, provides homeowners over the age of 55 the opportunity to release money from their home. The funds can be used for almost any purpose, and you do not have to make payments, although many plans do offer this should you prefer. The amount you can release depends on your property’s value and your age.

 

Discuss your options with us today!

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If you are the age of 55, Equity Release by way of a lifetime mortgage could allow you to access the money that is tied up in the value of your biggest asset – your home. One of our specialists can help you navigate the most suitable options with the right advice.

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This is a lifetime mortgage. To understand the features and risks, please ask for a personalised illustration. Check that this mortgage will meet your needs if you want to move or sell your home or you want your family to inherit it. If you are in any doubt, seek independent advice.

 

Use our handy calculator tool to see what loan to value you could achieve with a Lifetime Mortgage

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You can stay in your home for as long as you choose – for the remainder of your life (this will either be until the last person has died or moved into long-term care); With The Equity Release Council promise, you will never owe more than the value of the property:

  • Disclosed adverse credit will usually not affect borrowing

  • No proof of income is necessary

  • You have the flexibility to choose whether or not to make monthly payments

  • Lifetime mortgages are highly regulated financial products and have the utmost consumer protection, giving you peace of mind

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We are proud members of The Equity Release Council, a standard board in place to protect you throughout your whole term with a Lifetime Mortgage and we only recommend Equity Release Council-approved products.

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What can I use a Life Time Mortgage for?

  • If you gift some of the money to family, they might have to pay Inheritance Tax in the future.

  • Interest on a Lifetime Mortgage is calculated daily and added to the amount you owe each month. This means that the amount you owe will quickly increase over time, reducing the equity left in your home.

  • The inheritance you leave will be reduced.

  • If you pay back some of the loan early, you may be subject to an Early Repayment Charge.

  • Releasing equity may impact your entitlement to means-tested state benefits

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