Do you have an existing lifetime mortgage?

The equity release market has grown substantially, with the number of plans available rising each year. If you have an existing lifetime mortgage that’s more than a year old, then you could review your plan to see if you may be able access a better plan than was previously available to you.

Current market conditions

Lifetime mortgage interest rates from leading lenders are currently some of the lowest we’ve seen, so you could save thousands of pounds over the course of the plan in interest compared to your current plan.

Plus, Nationwide has reported average UK house prices have risen by nearly nine per cent in the past three years alone meaning that you could release more money from your home to spend on anything else you wish.

Get advice

Changing your existing equity release plan isn’t right for everyone and it’s important that you understand what it could mean for you. The Mail Finance Equity Release service can provide you with a free plan review quotation with no obligation to proceed.

Being able to change your plan will depend upon whether you qualify for the latest plan developments, any changes in the value of your house, the amount outstanding on your equity release plan, including interest that has accrued, and any potential early repayment charges that may be applicable.

Your advisor will tell you everything you need to know about equity release including the effect on the amount of inheritance you can leave and if your entitlement to meanstested benefits could be affected now or in the future.

Equity release may involve a home reversion or lifetime mortgage which is secured against your property. To understand the features and risks, ask for a personalised illustration.

Equity released, plus accrued interest, is to be repaid upon death or moving into longterm care.

We provide initial advice for free and without obligation. Only if you choose to proceed and your case completes would a typical fee of £1,795 be payable.