What are the alternatives to Life time Mortgages?

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The Main priority for our Equity Release mortgage customers is to provide you with a first class service for all your Equity Release Mortgage needs, Since the area of Equity Release is a very specialised area which requires a lot of indepth understanding of the clients situation, we have partnered ourself with FSA approved equity release partners , who have the experience of specialism in this area Depending on your circumstance they could help you find a Equity Release Mortgage deal at a very competitive interest rate, they do all the leg work, so you can relax. Click Here to request a call back and one of our Partners mortgage advisers will contact you shortly.

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What are the alternatives to Lifetime Mortgages?

Equity Release is a major step and should be carefully thought out before going down that route. All options should be looked at, and any alternatives evaluated, these include. Trading Down, if you can not afford the house you live in or you require cash, and then trading down from a large house to a smaller one may be an option. It is understandable that moving far away from the place you are use to and the hassle of moving is pretty daunting for the elderly, but it should be looked into. If you don’t want to sell maybe renting a room under the rent a room scheme would be viable. Another option for the elderly if you are trying to raise money to improve your home is to apply for grants from the council They have been given the power to offer grants to improve conditions for weakest in society. The discretion is with the council and evaluated on a case by case basis. Also speak to your social service department who also have access to funding for minor adaptions. Another option might be to sell your property and rent a place using the capital as your nest egg. If you want to sell it to a family member who would care for you and you paid them a fee. These may seem drastic actions but they are alternatives to the elderly if they are struggling to raise cash, and don’t want to go down the equity release route.