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Tel: 0115 859 0012 M: 07815 161 935

Dependable Finance
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Lifetime Mortgage

How does it work?

A lifetime mortgage is a form of equity release scheme whereby a loan is secured against your property, providing you with a tax-free cash lump sum to spend as you wish, with no monthly repayments to make.

Interest is added to the lifetime mortgage 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.

ADVANTAGES

  1. A cash lump sum with no monthly repayments to meet
  2. You still own your home so all growth in the value (if any, of course) belongs to you
  3. 'No negative equity' guarantee
  4. Plans can be taken out as young as 55

DISADVANTAGES

  1. Inheritance amount will be reduced
  2. Interest rates may be higher than for normal mortgages due to the long-term nature of the loan.
  3. The amount owed on the loan can mount up quickly.
  4. Early repayment charges may apply

This is a Lifetime Mortgage. To understand the features and risks, ask for a personalised illustration.

Lifetime mortgage can quickly erode the remaining equity and as a result there may be no value left to pass on.

Introduction to mortgages
Life Assurance
Contact Dependable Finance
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Company address:
Dependable Finance Ltd, 358 Loughborough Road, West Bridgford, Nottingham, NG2 7FD
T: 0115 859 0012 M: 07815 161 935
F: 0115 859 0012

Email: advice@dependablefinance.co.uk

Registration address:
Unit 24 Wilford Business Park, Ruddington Lane, Nottingham, Nottingham NG11 7EP
Registration number: 5391379

Dependable Finance Limited is an Appointed Representative of Openwork Limited, which is authorised and regulated by the Financial Conduct Authority.

Openwork is entered on the Financial Services Register (www.fsa.gov.uk/register/firmSearchForm.do) under reference 408285

The information on this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.

Telephone: 0115 859 0012 M: 07815 161 935 | advice@dependablefinance.co.uk

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