Looking for an alternative to Equity Release?
Published ¤ 21/01/2013 12:43:18
Are you retired, and need to release equity from your home? Are you concerned about taking out an equity release or lifetime mortgage? Then we may have the solution - the Retirement Mortgage.
The Retirement Mortgage is aimed at people over 65 who want to release cash from the eqtity in their home, and would prefer a traditional mortgage to an equity release mortgage (also known as a lifetime mortgage).
It is available on a fixed interest rate, over a fixed (renewable) term of 10 years, on an interest only basis. There must be sufficient income (pension, earned income, investment income, rental etc) to support the mortgage, and every case is manually underwritten.
The maximum loan is £350,000, up to a maximum of 50% LTV, and must have at least £150,000 equity remaining at completion.
If you think this might be interest to you or someone you know, please get in touch with PKS today!
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