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Frequently Asked Questions

Below are some of the most frequently asked questions, for more specific questions please feel free to contact us

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How much can I borrow ?

The amount you can borrow is based on your age at application and the value of your home.

How much will it cost me?

The cost will depend on the amount you borrow, the interest rate applicable and whether you choose to service the interest or allow it to roll up.

What is the difference between serviced interest and roll up ?

Serviced Interest is where you make payments to the lender on a monthly basis to service the interest and therefore your level of loan will not increase.

Roll up is where the interest is added to the loan and there are no monthly payments to make therefore your level of your loan will increase.

What is Drawdown?

Drawdown is a facility to allow you to access pre agreed additional funds at later date without the need to complete a new application.

Am I Tied In?

Lifetime Mortgages have early repayment charges, however the length of time these are in place for and the cost varies between providers and products.

Will I still own my home?

Yes, you will still own your home and benefit from any future increase in the value of your home.

What is a No Negative Equity Guarantee

A No Negative Equity Guarantee is a guarantee that you will never owe more than the value of your home.

Can I move home?

Yes, you can move home at any time.
The terms and conditions in relation to moving home vary between lenders,
This will be discussed in detail with you and taken into consideration as part of my recommendation.