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A lifetime mortgage in Essex is a popular choice for those aged 55 and older who want to unlock their property’s value while continuing to live there.
This type of equity release product offers tax-free funds to support your financial goals, whether that’s travelling, improving your home, or providing for family.
With a lifetime mortgage, you’ll retain full ownership of your home, and they are available on both freehold and leasehold properties.
Our mortgage advisors in Essex will help you explore your options and make an informed decision.
Lifetime mortgages are typically available in two forms for those aged 55 and over. Lump sum lifetime mortgages provide a single payment for significant costs, while drawdown lifetime mortgages allow funds to be accessed gradually over time.
As a trusted mortgage broker in Essex, we often recommend lifetime mortgages for situations like:
Through our lifetime mortgage advice in Essex, we often help older borrowers who use these products to purchase a property. Common reasons include:
When a lifetime mortgage isn’t the best fit, we’ll recommend alternative mortgage products for the over-50s in Essex that align with your goals.
Yes, a lifetime mortgage can provide funds for those aged 55 and over to move to a new property.
This option is particularly useful if you’re downsizing, relocating to Essex to be closer to family, or purchasing a home that better fits your lifestyle needs.
By releasing equity, you can cover the costs of moving while still retaining ownership of your new property.
A mortgage broker in Essex can guide you through the process and find a plan suited to your financial situation.
No, having a lifetime mortgage doesn’t mean you’re permanently tied to it.
Many plans include options such as voluntary payments to reduce the balance over time or remortgaging to a new product if your needs change.
Regular reviews with a mortgage broker in Essex can help ensure your plan remains suitable and aligns with your long-term goals.
As well as speaking with your later life mortgage advisor about whether equity release, and subsequently a lifetime mortgage, is right for you, it’s worth taking the time to consider any additional arrangements for the future.
There are several over 50’s life insurance policies available from our team that, if suitable for your circumstances, can help offset the cost of a lifetime mortgage over the life policy term.
We would also recommend discussing your lifetime mortgage plans with your family, updating your will, and setting up arrangements for any lasting powers of attorney.
These steps are important, as it is often your family, either as beneficiaries after your death or as attorneys should your mental capacity become impaired, who will be involved in selling the property to repay the lifetime mortgage.
Proper planning now not only ensures a smoother process for your loved ones later but can also make things more cost-effective in the long run.
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5.00 Rating4 Reviews
Richard
Very good service and excellent communication - definitely recommended
7 months ago
Shane
I cannot praise this team enough, they have been amazing. Especially Tom who went above and beyond to sort out my really complex mortgage and get me a deal which meant I could move to my new house. I would thoroughly recommend Essexmoneyman, they...
2 years ago
Shane
I cannot praise this team enough, they have been amazing. Especially Tom who went above and beyond to sort out my really complex mortgage and get me a deal which meant I could move to my new house. I would thoroughly recommend Essexmoneyman, they...
4 years ago
Imogen
We shopped around trying to find the best deal, should have come straight to Essexmoneyman, Nathan and Laura found me a perfect mortgage. When we had picked our product, they were speedy in ensuring they processed our applications quickly and taking...
2 years ago
Imogen
We shopped around trying to find the best deal, should have come straight to Essexmoneyman, Nathan and Laura found me a perfect mortgage. When we had picked our product, they were speedy in ensuring they processed our applications quickly and taking...
4 years ago
Jim
Matt and anna made the whole process super easy during the pandemic. as first time buyers we were worried but they made sure we were able to enjoy our first home together. thank you !!
2 years ago
Jim
Matt and anna made the whole process super easy during the pandemic. as first time buyers we were worried but they made sure we were able to enjoy our first home together. thank you !!
4 years ago
We start with a free lifetime mortgage appointment in Essex with one of our experienced mortgage advisors in Essex. This no-obligation session allows us to explore your financial goals and discuss whether a lifetime mortgage is the right choice for you. During this meeting, you’ll receive expert mortgage advice in Essex tailored to your individual needs and future plans.
Equity release may not always be the best solution, and as a trusted mortgage broker in Essex, we’ll help you consider all the available alternatives. Depending on your situation, options like downsizing, accessing savings, or exploring other financial products could be more suitable. Our impartial mortgage advice in Essex ensures you make the right choice for your circumstances.
Deciding on a lifetime mortgage is an important step, and we encourage you to discuss your plans with family or other trusted individuals. Open communication ensures everyone understands the implications for the future. Our mortgage advisors in Essex are happy to assist during these discussions, offering clear guidance to help all parties feel confident about the decision.
After carefully assessing your situation and exploring all alternatives, we’ll provide a tailored lifetime mortgage recommendation. As a trusted mortgage broker in Essex, we ensure our recommendations include the most suitable lender and product features to meet your goals. Our mortgage advisors in Essex will guide you through the process step by step, ensuring you feel supported and secure in your decision.
Enjoy a free mortgage review with our expert mortgage advisors in Essex. This no-obligation session is designed to provide you with tailored mortgage advice in Essex, helping you explore your options and make informed decisions about your financial future.
As a trusted mortgage broker in Essex, we compare products from a variety of lenders to find the perfect deal for you. Whether it’s a lifetime mortgage or another financial solution, we’ll ensure it aligns with your goals and circumstances.
From start to finish, our mortgage advisors in Essex are dedicated to delivering exceptional service. You’ll receive honest and professional guidance throughout the process, ensuring you feel confident every step of the way.
Our mortgage advisors in Essex are available seven days a week to accommodate your schedule. Whether you need mortgage advice in Essex during the week or on the weekend, we’re here to provide the support you need.
A lifetime mortgage provides those aged 55 and over with an opportunity to boost their retirement income, ensuring financial peace of mind.
This option lets you access the equity in your property to cover everyday expenses, manage unexpected bills, or pursue hobbies and interests.
Our mortgage advisors in Essex can help you explore the available options to match your financial goals.
Supporting family members financially is a common use of lifetime mortgages for those aged 55 and over.
Releasing equity can help loved ones with a house deposit, education costs, or other financial assistance, all while retaining ownership of your home.
A mortgage broker in Essex will guide you through the process, ensuring it aligns with your priorities.
A lifetime mortgage is a great way for those aged 55 and over to finance home improvements or necessary adaptations.
Whether updating your bathroom, installing a new kitchen, or making accessibility modifications, this option allows you to stay in your home while tailoring it to your needs.
Expert mortgage advice in Essex ensures you choose the right product to fund your plans effectively.
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Essexmoneyman.com & Essexmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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Essexmoneyman.com & Essexmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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