Equity Release through Age Partnership
Equity Release through Age Partnership, as seen on TV
Equity Release through Age Partnership, as seen on TV
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home > Equity Release Guide > Lifetime Mortgages

Lifetime Mortgages

Lifetime Mortgages at Age Partnership are available for homeowners aged 55 and over. This is a popular kind of equity release scheme because it allows you to free up part of the value of your home without risk to your home and without any repayments if you choose. The mortgage is repaid from the proceeds of the sale of your home when you pass away or if you move into long-term care.

With this type of equity release mortgage the money released is tax-free and can be taken in a lump sum to spend on whatever you like so it's particularly beneficial if you're looking to raise a large amount of cash quickly without having to worry about regular repayments for the rest of your life.

Before considering this type of equity release mortgage through Age Partnership here are a list of pros and cons to consider:

Advantages of lifetime mortgages

  • Lifetime mortgage plans are available from the age of 55
  • Receive a lump sum of cash to spend entirely as you please
  • You continue to live in and own your home
  • It can mitigate inheritance tax paid on your estate
  • With this type of equity release mortgage there is a "no negative equity" guarantee, (NNEG) which means that you will never owe more than the value of your home in the event of a downturn of the housing market and you can never pass on debt to your estate

Disadvantages of lifetime mortgages

  • It is likely to decrease the amount of money your family will inherit upon your death
  • It may effect the amount of state benefits you are entitled to
  • Early repayment charges could be incurred if you decide to repay your loan early - these differ from plan to plan so talk to one of Age Partnership's advisors on the free phone number below
  • You won't be able to use your property as security for another loan or mortgage

If you are interested in learning more about Age Partnership's lifetime mortgage schemes or hearing about our latest offers, call free phone on 08080 555 222 . Alternatively, go to our website and request a callback. We will call you at your convenience to discuss your equity release mortgage enquiry.

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