Interest only Lifetime mortgages

Interest only lifetime mortgages allow you to release some of the equity tied up in your property. These equity release schemes are also known as equity release mortgages or lifetime mortgages.

Interest only lifetime mortgages require no repayment of the capital sum borrowed during your lifetime. The debt, including interest accrued, is repaid on your death when the property is sold. This means the lifetime mortgage will grow each year as interest is added. However, it is likely that your property will grow in value as well.

Interest only lifetime mortgages are available from several equity release lenders including; Northern Rock, Prudential, Mortgage Express, Norwich Union, Halifax, HSBC

There are many types of Interest only lifetime mortgages and it pays to take good equity release advice from a professional adviser who is experienced in such matters.

Interest only lifetime mortgages
 

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