Lifetime Mortgage: The most common form of equity release, where you take out a loan secured against your home, but you don’t need to make regular repayments. The interest is typically added to the loan, which is repaid when you pass away or move into long-term care.
Home Reversion Plan: In this less common option, you sell a portion or all of your home to a provider in exchange for a lump sum or regular payments. You can continue to live in the property until you pass away or move into care.
Release of Funds: The funds from the equity release can be used for various purposes, such as supplementing retirement income, making home improvements, covering healthcare expenses, or helping family members financially.
Interest Accumulation: With a lifetime mortgage, interest accumulates over time and is typically repaid when the property is sold, usually upon the homeowner’s death or move to long-term care. The final amount repaid includes the initial sum borrowed and the accrued interest.
Impact on Inheritance: It’s essential to consider that equity release mortgages can reduce the value of your estate and the inheritance you leave to your beneficiaries.
Equity release can be a way for older homeowners to unlock the value in their property to enhance their retirement lifestyle or meet specific financial needs.
However, it’s a complex financial product with various factors to consider, including interest rates, potential impacts on state benefits, and legal and financial advice.
It’s highly recommended that individuals seeking equity release obtain professional advice to make informed decisions.
Monica Sandu2025-02-21Trustindex verifies that the original source of the review is Google. I recommend GoMortgage to everyone, they are the best : helpful , efficient and available to answer queries anytime which for us was extremely important ! Special mention to Rhiannon , I cannot praise her enough! Brilliant service and everything has been explained in depth ! Katie Mcgarry2025-02-17Trustindex verifies that the original source of the review is Google. A Massive thank you to GoMortgage especally Sarah and Shirley who could not do enough for us. When we applied for our mortgage we never though we would get one but you both made it happen for us and made our experience as stress free as possible they both stayed with us right up to completion date. We can not thank you both enough for making our dream of owning our own home come true. Katie & Felicity Kate Nelson2025-01-31Trustindex verifies that the original source of the review is Google. Can highly recommend. From our first enquiry to completion these guys have been efficient, clear and honest. Not sure how we would have managed buying our property without them! Jade Richards2025-01-03Trustindex verifies that the original source of the review is Google. The whole team at GoMortgage have been very attentive to our case. We were first time buyers with a questionable history however they were able to find a mortgage for us. Both Chris and Shirley have gone above and beyond, coming in on days off and keeping us well informed throughout the whole process. Shirley was also a great support through points of feeling very stressed. We can’t thank them enough and would recommend them 100% Kyle Wren2025-01-02Trustindex verifies that the original source of the review is Google. The team at GoMortgage were incredibly helpful throughout the entire mortgage process. They were responsive, knowledgeable, and always went the extra mile to ensure a smooth and stress-free experience. I highly recommend them! Thanks again to Chris and the whole team! L C2024-12-12Trustindex verifies that the original source of the review is Google. Rhiannon has been amazing from start to finish, making the process very simple. Very efficient, supportive and offered lots of reassurance, giving very clear advice. Jeanine Dash2024-11-28Trustindex verifies that the original source of the review is Google. A dear friend of mine recommend this company to help with the remortgage of my property after my divorce. I am so grateful to them. They were invaluable getting offers for me. At one point I needed to slow things down and I wasn't pressured to move more quickly I highly recommend them. They made a very stressful time much smoother. Felipe Coelho2024-11-22Trustindex verifies that the original source of the review is Google. I will never forget the early hours of Sunday back in April when I was desperate and decided to shout out at Chris Days. But never expected I would get a reply a few hours later before 10 am on a Sunday morning after an early hours email. The first sign of competence and dedication to customer service. I was told someone would be allocated to my case as a matter of urgency. Therefore Rhiannon Alexander was assigned to my case and promptly contacted me early on the following working day. From our first conversation, I knew deep inside I was in safe hands. We had to work over several months to meet the eligibility criteria. Until I was given the green light from the lender. My self, Chris, and Rhiannon came up with amazing plans together and I have listened and followed everything. And guess what? When it came to the promised date. We were given the green light with huge success. And I have secured my mortgage and my insurance protection. And I will not be moving to my dream home. Thanks to my hard work and immensely by the guidance of Chris and Rhiannon. Now is all left to the lovely Shirley who deals with all the details of the transaction until completion. Yea, you have heard it right!!! They will hold your hands until then end of completion. I'm immensely grateful for you guys. Specially Rhiannon who will be in my memory and life and heart forever. As I will forever remember how many extra miles she went to help. And I will never forget my crazy emails that I'm sure she will never forget the huge nasty email and the words used during the seller's assessment. Due to the fact of that email we were able to proceed with the purchase with her support and the sellers team who at the end. Guess what? We managed to build a friendship bridge Of hard-working people and great customer service and this dream is now less than 9 days to completion. So again thank you so much for everything. I will forever recommend Go Mortgage with my eyes closed and they have cared for me and helped me succeed with my dreams. And the final bit is. It's not over we will be connected for many years to come during remortgage and any other related matter. And I can't wait to officially meet them all soon in due course to thank you all for the support. Once again, thank you @Rhiannon Alexander, Chris Days and the lovely Shirley. Best Phil. CARMEN PUNTARU2024-11-21Trustindex verifies that the original source of the review is Google. I am not sure where can I even start, there are not enough words to express my joy. I never thought I could have the chance to get a mortgage, especially as a foreigner. I tried some other companies before, and I have been told that I need either a better income, or a bigger deposit to qualify. My journey started when I was keep seeing Chris's videos on Facebook, so I said I will give them a try. I was initially looking for a place to rent, when I found a house for sale and I got the offer accepted. I gave Go Mortgage a call and they made all the arrangements to proceed with the purchase. I am now a week away from the completion date and I still cannot believe it. I would like to say a big thank you to Laura Thompson and Shirley Moore who were brilliant. They went above and beyond to make my dream come true. If you are looking to purchase a property, I would definetely recommend Go Mortgage. Many thanks and Kindest regards
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