Lifetime Mortgages
If you’re looking to release equity secured against the value of your home, a lifetime mortgage could be the solution for you. Offered to homeowners over the age of 55, a lifetime mortgage allows you to release tax-free cash from your home without having to move.
Expert understanding or equity release products
Rosewood is a proud member of the Equity Release Council. As part of the Council, our advisors must adhere to professional industry standards which dictate that we can only recommend the highest quality later-life lending products and services. By combining our knowledge of traditional mortgages with our expert understanding of equity release products, we can find the most suitable lifetime mortgage to meet your needs.
Impartial financial guidance
Although you don’t have to pay off a lifetime mortgage until you pass away or permanently move into long-term care, you do have the option to pay off some or all of the interest accumulated each month. After reviewing your personal and financial circumstances, we can work together to determine the most appropriate repayment strategy for you.
Want to learn more about lifetime mortgages?
Contact Rosewood today.
A lifetime mortgage is a loan secured against your home. To understand the features and risks, ask for a personalised illustration. Equity release will reduce the value of your estate and may affect your entitlement to means tested benefits.
Your home may be repossessed if you do not keep up the repayments on your mortgage.
F.A.Q.s
Frequently asked questions
Why do I need a lifetime mortgage?
A lifetime mortgage is a type of equity release product which allows you to release tax-free cash from the value of your home. You have to be over 55 years old and have paid off some of your mortgage to meet the eligibility criteria of lenders.
As the money is taken from the equity you have already paid off on your existing mortgage, and therefore the portion of your home that you technically ‘own’, you can spend the money however you like. Some people use the money to help out family members with finances, consolidate debt, or to go on a dream holiday.
Are lifetime mortgages safe?
Regardless of which lender you choose, all lifetime mortgages and financial advisors are regulated by the Financial Conduct Authority (FCA). This means that all products in the market must be honest and fair and that all advisors must recommend only the most appropriate lifetime mortgage products.
Will I end up passing on debt to my beneficiaries?
All lifetime mortgages come with a no negative equity guarantee. This means that you will never owe more than the property is worth when you pass away or move into long-term care and the property is sold. Therefore, once the sale proceeds have been used to pay off the lifetime mortgage, any remaining money will be paid to you or your beneficiaries.
Curious about your later life lending options
As a Society Of Later Life Advisers (SOLLA) accredited company, Rosewood’s in-house later-life lending experts offer cutting-edge solutions to help you meet your future lending goals.