Equity release mortgages are a growth area and a good deal more competitive than they were, with new lenders competing over an ageing population, we can explain in plain English the benefits and drawbacks and help you to find the best lender and scheme for you, in this fast changing sector.
Mrs F was living on a very low income following the death of her husband. Her four children all lived nearby but were not in the position to financially support her. Due to the growth in London house prices, whilst income poor, Mrs F was asset rich. We were able to arrange a lifetime equity release mortgage with a draw down facility, meaning that Mrs F could use her house to pay her a modest additional income, but only taking what was needed at the time. This prevented a rapid interest roll up, but was still able to help Mrs F enjoy a good standard of living in her later years.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE JLM Mortgage Services Ltd is authorised and regulated by the Financial Conduct Authority, (FCA), registration number: 300629. The FCA do not regulate some forms of mortgages. JLM Mortgage Services Ltd is registered in England, No. 470 1803. The guidance within this website is solely targeted at consumers based in the UK. *A fee of up to 1% of the mortgage amount may be charged depending on individual circumstances. A typical fee is £495. In some circumstances no fee will be payable.