Lifetime Mortgage Brokers
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Learn More About Lifetime Mortgages.
As a homeowner, you’ve probably seen the value of your home increase over time. With a lifetime mortgage, you have the opportunity to tap into some of this value and release a cash sum.
With over 24 years of experience as mortgage brokers in Preston, Garstang, and Southport, we understand that the ins and outs of lifetime mortgages can seem confusing at first. We’re here to provide you with all the information you need so you can work out if a lifetime mortgage is right for you and make the best decision for your finances.
Learn more about how lifetime mortgages work in the UK, and please don’t hesitate to get in touch to discuss your property and circumstances in more detail with one of our helpful advisors.
What Is A Lifetime Mortgage And How Does It Work?
Lifetime mortgages are similar to standard mortgages in the sense that they are loans secured against your property. However, with a lifetime mortgage, the loan will not need to be repaid in monthly instalments.
Instead, the loan and interest are rolled up and repaid by the sale of your property when the plan ends. This is normally when you die, or move into long-term care.
Who Is A Lifetime Mortgage Suitable For?
A lifetime mortgage is designed for people over the age of 55. It allows you to either buy a new home or release money from your current property without the need to make any monthly repayments during the lifetime of the loan.
Working Out If A Lifetime Mortgage Is Right For You With Support From Key Mortgage Advice
We recognise that making the switch to a lifetime mortgage is a big decision. Our mortgage brokers in Southport, Preston, and Garstang are available to explore your options with you to help you find the best type of mortgage for your requirements.
The friendly team at Key Mortgage Advice can offer a telephone call or visit you in your own home. During this consultation, we’ll discuss your situation so we can provide clear and concise advice, tailored to your personal circumstances.
If you decide you would like to proceed with a lifetime mortgage recommendation, we offer full support with the mortgage application, legal forms, and completion matters to ensure the process is as straightforward as possible.
We can also walk you through your other mortgage options, such as remortgaging. In addition, we will offer you our full support going forward, so you can always contact us for guidance.
Frequently Asked Questions
How Much Does It Cost To Get A Lifetime Mortgage?
Lifetime mortgage interest rates vary depending on the lender. However, you can generally expect to pay around £1500 to £3000 for the equity release fee.
Who Pays A Lifetime Mortgage Back At The End Of The Term?
The full sum will usually be taken from the sale of the property after the borrower has died or gone into residential care.
What Happens If The Property Goes Into Negative Equity?
Most lifetime mortgages have a ‘no negative equity’ guarantee. This means that if your property falls into negative equity (sells for less than the mortgage amount), it won’t leave your family owing more than the property is worth.
Contact Key Mortgage Advice.
If you feel that a lifetime mortgage might be suitable for you, please feel free to contact us today, and we’ll be happy to guide you through any next steps. We offer honest, personalised advice that puts your future first and helps you use your home wisely in retirement.
Fill out our online contact form to book a free consultation, email
enquiries@keymortgageadvice.co.uk, or give us a call at your local branch:
Benefits Of Our Lifetime Mortgage Services.
Unlock tax-free cash from your home in retirement with trusted advice and products from leading lifetime mortgage providers.
Later Life Experts
We specialise in helping older clients access property wealth in a responsible, informed way.
Trusted Advice
Our advisors ensure you fully understand your options, risks, and long-term impact of equity release.
Family Inclusive
We encourage involving family in the process, supporting clear and confident decision-making.
Flexible Plans
Choose from interest-only, drawdown, or lump sum plans that suit your lifestyle and future plans.
Book a no-obligation consultation with us on: 01772 620000.
Why Choose Us?
We offer honest, personalised advice that puts your future first and helps you use your home wisely in retirement.
Award-Winning Mortgage Experts
Recognised for excellence in mortgage advice, ensuring you get expert service you can trust.
We Have A 5-Star Rated Service
Thousands of happy homeowners have rated us 5 stars for our transparent, hassle-free mortgage support.
Access To Whole Market Access
We compare thousands of deals from over 100 lenders to find the very best mortgage for you.
We Are Fully Regulated & Accredited
We are FCA-regulated and accredited by industry-leading bodies, ensuring professional and ethical mortgage advice you can trust.
