Unlocking the Value of Your Home: How Total Mortgages Can Help with Equity Release Mortgages

Equity release mortgages allow homeowners to access the equity in their property. This can be a useful option for those who are retired or approaching retirement and need to supplement their income, or who want to make a large purchase or investment. An additional use could be to support family with a deposit for their dream property

At Total Mortgages, we can help you navigate the process of obtaining an equity release mortgage. We work with a range of lenders across the UK and our expert mortgage adviser can provide you with personalised advice and support.

Types of Equity Release Mortgages Available in the UK:

1. Lifetime Mortgages: This is the most common type of equity release mortgage. You borrow a lump sum secured against the value of your property, and interest is added to the loan. The loan, plus interest, is repaid when you die or move into long-term care.

2. Home Reversion Plans: This involves selling a percentage of your property to a lender in exchange for a lump sum or regular payments. You retain the right to live in the property for the rest of your life, rent-free. Advice on this would be referred to a Third Party.

3. Interest-Only Mortgages: This allows you to borrow a lump sum and pay the interest each month, leaving the original loan amount to be repaid when you die or move into long-term care.

Our expert mortgage adviser can help you understand the different types of equity release mortgages available and advise you on the best option for your needs. We will also help you navigate the application process, from initial consultation to completion.

At Total Mortgages, we pride ourselves on providing personalised and transparent service to our clients. We will keep you informed throughout the equity release mortgage process, providing regular updates and ensuring that you have all the information you need to make informed decisions about your financing. Please note that a thorough fact find will be completed where any suitable alternative options will be discussed in detail before a Later Life option is considered.

If you are considering an equity release mortgage, contact Total Mortgages today to speak to our expert adviser. We will provide you with the guidance and support you need to ensure a successful and stress-free equity release mortgage application.