It’s never too late to follow your dreams.

A lifetime mortgage is a type of equity release product that allows homeowners to borrow money against the value of their property while they continue to live in it. The loan is typically repaid, along with interest, when the borrower dies, moves permanently into residential care home, or sell the property.

Unlike traditional mortgages, there are no monthly payments required with a lifetime mortgage. Instead, the interest is added to the loan balance, which can increase the amount owing over time. Some lifetime mortgages also have a feature allowing the borrower to make voluntary payments to reduce the interest accruing on the loan. This type of equity release product is typically only available for homeowners who are over 55 years old.

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Why Lifetime Mortgages?

There are several reasons why someone might choose to use a lifetime mortgage:

  1. Supplement retirement income: A lifetime mortgage can provide a source of additional income for retirees who need extra money to cover their living expenses.
  2. Pay off Debt: to pay off their interest only mortgage or unsecured loans like credit cards or personal loans.
  3. Finance home improvements: Such as installing a new kitchen or bathroom in your property.
  4. Provide financial assistance to family members: Such as helping a child with a down payment on a house or paying for a wedding.
  5. To maintain quality of life in retirement: by traveling, buying a second home or a car, or investing in hobbies or other interests.

It is important to note that a lifetime mortgage will reduce the value of the estate and may affect the inheritance of the beneficiaries. It is important to weigh the pros and cons and to seek financial advice before taking any decision.

Costs of our service

We charge a fee of £495 for providing advice and submitting your lifetime mortgage application. This fee becomes payable on issue of mortgage offer by the lender. This may include adding the fee to the mortgage, where it’s possible and requested by the client.

We will receive and retain any commission paid by the lender when your mortgage completes. This amount will be confirmed by the lender in their disclosure document.

Refund of fees

Please note our fee will still be charged should the lender reject your application due to you not disclosing any material information about your personal situation. It should also be noted we do not provide a refund should you decide not to proceed with the loan after receiving mortgage offer from the lender.

our client stories

Helping people live life to the fullest.

No one can demonstrate our successes more than our clients. Working with a wide variety of clients, here are some of the families and people we have helped get closer to their ‘desired lifestyle’.

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Tell us about your dream lifestyle

To start your journey with Expert IFP, all you need to do is reach out to us and we will assess how we may be able to help. We ask that you complete the simple form below noting what specifically you are looking for help/guidance on and what your main objectives are. We’ll take it from there.

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