Lifetime Mortgages Dundee
Let us help with equity release and lifetime mortgages in Dundee by searching the whole market to find the equity release product that suits you best.
Services We Offer
Lifetime Mortgages in Dundee, Angus, Pitlochry, Fife, Aberfeldy, Stirling as well as Perth & Surrounding Areas.
Is Equity Release Safe?
Equity Release is regulated by the Financial Conduct Authority (FCA). Alongside the regulator there is an established trade body called the Equity Release Council (ERC). This organisation is dedicated to the protection of the Equity Release consumer through a code of conduct observed by Lenders, Advisers, Solicitors and Surveyors alike.
Lifetime Mortgages from ERC approved lenders come with some key guarantees including retaining complete home ownership and a no-negative equity guarantee. This ensures that you will never owe more than the value of your home and no debt will pass to your estate.
Exploding the Myths
A Lifetime Mortgage does not mean selling your home to the lender; you are simply borrowing against it, and you remain the owner. As some lenders restrict the choice of mortgages for over 60’s, this can be invaluable for older homeowners.
Lifetime mortgages have become increasingly flexible in recent years. As Equity Release has increased in popularity the options available to clients have also increased.
As an example, you can choose to take an initial lump sum, or alternatively an initial sum with a reserve account known as drawdown. These are funds that can be accessed at a later date. Interest is not charged on the drawdown until the money is released, providing you with a source of capital for the future, should you require it. This can offer you an effective way of limiting the roll-up of interest.