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Mortgage Types

Lifetime Mortgages/Equity Release Mortgages
This type of mortgages are aimed at older borrowers (minimum age is normally 55) who wish to release equity from their properties. Based on the value of the property and age of the borrower the lender will allow a percentage of the equity to be released. Repayment of the loan can be either monthly over a particular term or the interest accrued is added to the capital each month and then then the capital and interest is repaid when the property is sold.

At Bright we have two fully trained Equity Release experts. Please call 0800 6 888 2222 now to arrange an appointment or discuss futher over the phone.

 

  
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This arrangement may involve a lifetime mortgage or a home reversion plan. TO UNDERSTAND THE FEATURES AND RISKS ASK FOR A PERSONALISED ILLUSTRATION.

AN EQUTY RELEASE PLAN WILL REDUCE THE VALUE OF YOUR ESTATE, WILL NOT BE SUITABLE FOR EVEYONE AND MAY AFFECT YOUR ENTITLEMENT TO STATE BENEFIT.

An equity release scheme is a complex legal arrangement and expert independent legal advice should always be obtained before entering into an agreement. There will be no cost to you for the initial consultation.

We do not normally charge a fee for Equity Release advice however this will depend on your circumstances. If a fee is charged our typical fee is £399.

 
 
 
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