Lifetime Mortgage

The issue with getting a mortgage in later years is proving income.

There are many older people who find themselves in a predicament – with little or no income because they are not working and relying on a pension but with plenty of equity in their home, which lenders will not let them release because they haven’t got the income to support that borrowing. Many of these people would rather not sell up and downsize, leaving the family home in order to free up cash to live on.

Equity release offers a possible solution for the ‘asset rich, cash poor’, allowing them to release cash to live on which is then paid back after they die and the house is sold. With more providers entering the market, rates have fallen so equity release is not as expensive as it was in the past. Equity release isn’t a ‘cheap’ solution but can be the right one for certain borrwers.

Whilst we are unable to provide you with advice on lifetime mortgages/equity release, we can introduce you to an authorised and regulated Financial Adviser who can provide you with specialist advice.

Please Note: A Lifetime Mortgage will reduce the value of your estate and may affect your entitlement to means-tested benefits and tax status. The impact of not servicing monthly interest payments on a Lifetime Mortgage is that the outstanding debt can grow rapidly, thus reducing the value of your estate. For example, if the interest rate was 7% a year, a £50,000 loan would double to £100,000 after 10 years assuming no repayments are made. This is an example for illustrative purposes only and personalised advice and recommendations should be sought from a qualified professional. You are strongly advised to register a lasting power of attorney. This will allow your affairs to be managed by somebody else if your mental abilities significantly decline.

Why Use Anderson Harris?

Professional, Friendly Staff

We greatly enjoy helping clients achieve their property dreams. Our experienced staff will invest time to understand your circumstances and find the right finance solution.

Proactive & caring

We recognise that interest rates and the property market can suddenly change. It’s why we monitor the markets and alert our clients to any changes that affect them

First Class Customer Service

We form long-standing relationships with our clients. They value our ‘plain English’ advice, our responsiveness and our genuine interest in their property plans.

Sustainable & Considerate

Keen to minimise our impact on the environment, we have invested in IT to create our paperless office and facilitate remote working. We also fundraise for causes which are close to the team’s hearts.

Nationwide Coverage

Based in the heart of London, we support clients across the UK. Our extensive network of specialist funding providers enables us to secure you the right finance solution.

Proven Track Record

In addition to the Awards we have won over recent years, we are also proud of the numerous positive reviews our clients have posted on the likes of Trustpilot and Google.

Training & Technology

We invest heavily in our staff training and our infrastructure. It means we remain current with the latest property finance issues and operate efficiently.

Fast, Efficient Delivery

When it comes to property finance speed is of the essence. In addition to our systems, our established network of lenders help us quickly source the best solutions for a specific requirement.

Quick Enquiry Form

Our team of specialists are ready and waiting to help turn your property dreams into a reality. Please complete this form to find out how we can find the right mortgage, and save you time and money.

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