Raising Income from your Property

Mortgage schemes are available that allow you to raise a lump sum, or take a regular income, by borrowing against the value of your home. These schemes are commonly called equity release mortgages.

Clearly, if you need extra income it is unlikely that you will be able to afford the payments on a mortgage. Special schemes allow you to raise the extra money that you need without having to make regular payments. Of course, this will mean that the debt on your home will increase as interest gets added.

Some schemes have no end to the mortgage term, and are called lifetime mortgages.

Whatever your needs, it is vital that you get the right type of mortgage plan, which will enable you to remain secure in your own home for as long as you wish.

When considering this type of arrangement it is important to consider all other options, and to consider the effect that the arrangement may have on any grants or benefits that may be available to you.

This type of planning should only be undertaken with the help of expert advice. Please contact us for further assistance.

These types of mortgage are often lifetime mortgages. To understand the features and risks fully, ask for a personalised illustration.

Your home may be repossessed if you do not keep up the repayments on your mortgage