Flexibility and choice

There are four main types of equity release products that allow you unlock capital from your property without having to move. During our initial discussions, we will talk to you about the different routes and make sure you understand your options, as well as the financial implications.

coins | John Lamb Hill Oldridge

A Lifetime Mortgage is a mortgage that does not require monthly repayments. You retain ownership of your home and the interest on the loan is rolled-up (compounded). The loan and compounded interest are repayable when you die or move into long term care. You can opt to make monthly repayments on certain plans, within agreed limits, in order to control the roll-up of interest. In the case of a couple, the repayment of the lifetime mortgage is not due until the surviving spouse dies or moves into long-term care.

Icon | Equity Release | John Lamb

A Drawdown Lifetime Mortgage allows you to release a smaller lump sum from your property, with a cash facility that you can draw upon as and when you need it. Interest is only charged on the funds that have been released. When you decide to release additional funds from the cash facility, a new rate of interest will be applied to the amount you borrow.

Retirement Interest Only Mortgages (RIOs) allow you to borrow against your property and only make monthly interest payments. With RIO mortgages you are only required to repay the loan when you sell your property, die or move into long-term care. Unlike standard interest only mortgages, you only have to prove that you can afford the interest payments. Most lenders will allow the transfer of a RIO mortgage onto a roll-up lifetime mortgage should circumstances change.

Home reversion | John Lamb Hill Oldridge

A Home Reversion plan allows you to sell all or part of your property in return for a cash lump sum (or regular payments) and a lifetime lease, ensuring that you have the right to reside at the property, rent free, for the rest of your life.

IHT liability reduced

Equity Release will create a debt against your client’s estate

Tax free

Capital released from your property is tax free

No contractual monthly

Helping to increase cash flow

Fixed interest

Lifetime mortgages will have fixed rates of interest for the life of the loan

Debt will not exceed the value of

No negative equality guarantees loan will never exceed that value of your home

Find out more about equity release at John Lamb Hill Oldridge

Meet our team
Call us today