Lifetime Mortgages

For many their home is not just their castle, it’s also the best investment they ever made. However, being asset rich and cash poor is no joy.

However, before you consider releasing funds from your property, there are a number of consderations to make, for instance:

  • If the funds are required for renovation of your existing property, have you asked your local authority what grants are available to you?
  • If the funds are required for lifestyle reasons, would you consider downsizing or moving to a different/less expensive area in order to release funds?
  • If moving is out of the question as it would mean leaving family and friends behind, what about taking in a lodger to provide extra income?
  • Talking of Family/Friends, would they consider/be able to assist you financially?
  • If releasing funds is still a viable option, what is the impact of any lump sum you receive on any means tested benefits you may receive i.e. Pension Credit, Council Tax Benefit etc?
  • Would releasing an “income” be a better alternative?

These and many more questions, should be explored in order for you to make an informed choice so, if you have given consideration to the above and would still like to find out if your home can help you live the retirement you planned then please do get in touch.

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