Equity Release - Lifetime Mortgages ✓

A lifetime equity release mortgage secures a loan against your property, providing you with a tax-free cash lump sum or a regular income to spend as you wish. Interest is added to the loan throughout your lifetime, accruing at a fixed or variable rate. The loan plus interest is eventually paid back when the home is sold which could be when you move into long term care, or when you and your partner die. Subject to your age you can typically release between 18-50% of the value of your home with a lifetime mortgage. 'Lifetime Drawdown’ mortgages are a variation of the standard lifetime mortgage, the main difference being you decide on a maximum amount of equity you want to release, and 'drawdown' the cash in stages as and when required.

Equity Release - Home Income Plan ✓

With an equity release home income plan, equity is released through a lifetime mortgage or a home reversion plan and is automatically invested into an annuity that is built into the plan, to generate an income for life. A cash lump sum may be available in addition to an income, but the amount may be restricted. An annuity is a plan that guarantees a series of payments in exchange for a cash lump sum. The income you receive will depend on prevailing annuity rates, your age at the outset and your gender. The advantages and disadvantages of home income plans largely depend on whether the money is released through a lifetime mortgage or a reversion plan, however annuities have their own set of pros and cons.

Equity Release - Home Reversion Plan ✓

With this equity release plan you sell part of or your entire home to a reversion plan company in exchange for a tax-free cash lump sum and a guaranteed lifetime lease with no monthly repayments to meet. You can stay in your home either rent free or by paying a nominal rent for as long as you choose and you can guarantee an inheritance to your beneficiaries. Both you and the reversion scheme company share in any increase in your property's value, providing you have not exchanged 100% of its value.

Do you qualify for a Lifetime Mortgage?

Answer these few questions and check whether you're eligible in just a few seconds!

Are you over 55?



Is your property your primary residence?



Is your property made of standard construction, in a good state of repair, free of any tenancy restrictions and in England, mainland Scotland or Wales?



Is your property valued at over £100,000 (£150,000 if ex-council)?



Do you own your property outright or is your mortgage small enough to be paid off by some of the proceeds of the Lifetime Mortgage?



Think about it...

A mortgage is a loan secured against your home or property. Your home or property may be repossessed if you do not keep up the repayments on your mortgage or other debt secured on it.

Equity release may involve a lifetime mortgage or a home reversion plan. To understand the features and risks, ask for a personalised illustration. Equity release may not be right for everyone. It may affect your entitlement to state benefits and will reduce the value of your estate. Think carefully before securing other debts against your home.

Contact Us

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...even better, phone us to arrange a meeting to discuss your needs.

0161 327 1956

Abbeygate Mortgage Solutions
The Mortgage Office, 58 Baskerville Road,
Altrincham, WA14 4YG, United Kingdom

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    Abbeygate Mortgage Solutions is a trading name of Simpli Financial Solutions Ltd, which is registered as a limited company in England and Wales (9648462) and authorised & regulated by the Financial Conduct Authority.