Lifetime schemes

Lifetime mortgages can provide money for your retirement without the headache of making regular repayments.

This type of equity release scheme gives you a cash lump sum now, or regular income for the rest of your life, and you don't have to worry about making monthly repayments.

How do lifetime mortgages work?

Lifetime mortgages help you make use of some of the equity locked in your home by taking out a loan secured on it. Remember, this is a loan and interest is charged on it. But it is accumulated over time and is not repayable until you die or move into long-term care, which is when your home will usually be sold.

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54% shop around for equity release

More than half of those homeowners who signed up for an equity release scheme with specialist provider Partnership compared quotes from other providers beforehand.


Pensioners own property worth well over £750bn

Retired homeowners have total property wealth owned outright of £756.36bn, according to new research from equity release adviser Key Retirement Solutions.


Equity release market growing strongly

The amount of money lent to older homeowners in the equity release market grew by 11% in the third quarter of 2012.


House prices down, mortgage approvals up

Average UK property prices fell by 0.7% in October, according to the latest Halifax House Price Index.


Property prices drop 0.2% in October

UK house prices retreated at a 0.2% month-on-month pace during October and by another 0.4% versus the same month a year ago, according to the latest data out from Hometrack.

Age UK teach older people computer skills

Equity release to be fully advised

After the Mortgage Market review is implemented in April 2014, all equity release customers will have to be advised.


Tougher rules on mortgage lending to be introduced in 2014

The Financial Services Authority (FSA) has confirmed that it will introduce rules designed to prevent irresponsible mortgage lending in its Mortgage Market Review.

Internet is consumers' first port of call for mortgage advice

Consumers are increasingly turning to the internet to research mortgage products, according to Legal & General's mortgage mood survey.


Case study – Home reversion plans

Patricia Davies, 77, had previously looked into home reversion plans but was unsure about taking one out.


Case study – Lifetime mortgages

Patricia Russell, 77, and husband Cyril Russell, 84, are retired teachers.


Equity release: buyer beware

Equity release may not be the right option for everyone, so consider carefully whether it is right for you.

Thatched cottage

Lifetime mortgages

Lifetime mortgages can provide money for your retirement without the headache of making regular repayments.


Equity release

More and more older people are turning to equity release mortgages to enable them to free up some of the value in their properties.

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Equity release market grows 26% in H1

Equity released by homeowners rose by 26% to £641.8m in H1 2014 compared to the same period last year, analysis from provider Key Retirement Solutions has shown.

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