Equity Release what is it?

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Equity Release

Equity Release or Lifetime Mortgages

Equity Release mortgages allow you to release cash from your property without the need to move home. To be eligible for one of these plans, you need to be a UK homeowner aged 55-95. The money you release can be spent in any way you like and, what’s more, there are typically no monthly repayments to make. You may stay in your home for life, or until you decide you want (or need) to move.

It is highly recommend you take independent equity release advice to guide you in this specialist area.

Call now for a free appointment to discuss your options

Derwent Mortgages have access to mortgages from the Whole of Market and pride ourselves in sourcing the most appropriate mortgage for your individual needs. We offer independent advice for lifetime mortgages.

We only work with lenders that offer a guarantee that the loan will never be more than the value of your home.

The cash could be used to

  • Boost your quality of life in retirement
  • Repay your interest only mortgage or other debts
  • Pay for home improvements
  • Pay to adapt your home
  • Upgrade your car

Equity Release is a way of getting cash out of your property without the need to move. A Lifetime Mortgage is simply an Equity Release product whereby you are able to raise an amount of capital secured on your property. This type of loan means you retain full ownership of your home whilst unlocking a cash lump sum. The amount you can raise is dependent on your age, your health and the value of your property.

There are many providers of these types of mortgages and they are constantly developing new products which is why we believe you need to get expert advice.

With a lifetime mortgage Instead of paying back a monthly amount of capital and interest each month, most plans will allow the interest charged by the lender to be ‘rolled up’ on to the loan. However, some lenders will also give you the option of paying the interest payments in part or in full each month so your loan amount may stay the same (if you pay the full interest every month). This is subject to such payments being affordable on your current income.


Call Derwent Mortgages today to arrange an appointment to suit you on 01423 325614 or click here to complete our Mortgage Enquiry Form

Why use a Mortgage Broker?

As Specialist Mortgage advisers we are able to provide personalised advice on a host of area as follows:

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

There may be a Broker fee for mortgage advice, this will depend upon your circumstances. A typical fee is £750 payable on completion. In general Buy to Lets are not regulated by the Financial Services Authority. Derwent Mortgages Ltd is authorised and regulated by the Financial Conduct Authority. The advice and / or guidance contained within this site is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK. For advice on any of the above, Contact us now. Derwent Mortgages Ltd. Registered address: Croft Farm, Marton Cum Grafton, York, YO51 9QJ. Registered in England under Commpany No 08190587.