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Reverse Mortgages / Senior Loans / Equity Loans for The Over 60’s

Reverse mortgages and equity loans are gaining in popularity as people look to retire and cannot always rely on their savings or their pensions to give them the lifestyle they want or deserve. You worked hard, probably brought up a family and now in your retirement years a reverse mortgage could make the difference between retiring comfortably or just existing.

Reverse mortgages allow you to unlock the equity in your home, which for most people has been consistently their number one financial investment, so why shouldn't you be able to make a withdrawal from it and live the lifestyle you deserve.

How do reverse mortgages work?

In a conventional home loan the capital sum decreases because of your repayments. With reverse mortgages you do not need to make any repayments and the interest is applied to your loan. The loan is repaid when the borrower(s) die, when all parties move into fulltime care or when you decide to sell the property.

Do reverse mortgages have safeguards?

Yes they do. Reverse mortgages only allow you to borrow a proportion of your properties value and this varies according to age. The strict lending criteria will safeguard against accumulating a large debt and regardless of how long you live the debt will never exceed the properties value, which is often a concern of potential borrowers. Please note the banks and lenders guarantee this!

Our brokers and financial advisers are trained to ensure customers are making informed decisions. As further protection, all customers are required to receive independent legal and financial advice before signing up.

Reverse Mortgages - Summing up

Reverse mortgages are a valuable option for certain types of people, for instance couples 60 or over that are asset rich with a large property but have very little disposable income. It can make the latter years of your life comfortable and certainly more enjoyable.

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