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.
Ogbonge AfricanMama2023-10-11I reached out to Chris on facebook after i stumbled on one of his reels, i wasn't expecting anything positive from Facebook as i had been previously turned down by two major Mortgage Advisers. Natalie and Shirley took up my case and in a short while got me a high street lender despite the price of the property been raised by 20%. They carried me along all through the process and i was never left in the dark. I am a single parent , first time buyer and first time landlord. They also helped me get the right Legal Advisers and Insurance. I highly recommend their services. Thank you Natalie and Shirley. BR Gina
Chris Days2023-10-03Amazing service
Graham Nicholls2023-09-18Rhiannon supported us throughout the mortgage application process. Very friendly, supportive, and knowledgeable. Highly recommended.
Calum Hayward2023-09-07Absolutely brilliant service! I cannot fault Chris, Natalie and Shirley. They got us our dream home and supported us through the entire journey! Thank you!
Meg Talbot2023-08-11We always thought buying our first house would be stressful, when we found this company through a few Facebook videos we thought we would enquire. Rhiannon got in touch with us and she talked us through the whole process and sorted so much for us! I would not recommend anyone else she has been amazing and we can’t thank her enough.
benjamin lee2023-07-25After seeing Chris days facebook reels I got in touch with gomortgage and was contacted by Laura who took some details of what I was wanting .Laura provided an outstanding service and nothing was to much even down to final details she explained everything and chased up the lender looking forward to doing buisness again in the near future. 5 star service would not hesitate to pass details on to any family friends etc
Meritxell Humbert2023-06-30Very professional service, from the early beginning until the purchase is completed. Valuable and frequent updates to keep me up to date on the purchase process. Would recommend 100%
Russ Bury2023-06-02Chris and Shirley made getting my first mortgage so easy and quick. A very professional, friendly and personal approach. I would recommend them and Go Mortgage to anybody. Easily 5 star service. Thank you. Russ
Anita Winters2023-05-31Chris and Shirley have been so good in helping us secure a mortgage and guide us through to completion. Always ready to answer any questions we had and very responsive in correspondence. Would highly recommend.
Numan Ashequl2023-05-17We have been very stressed about our housing situation. We came across Laura Thompson. She went above and beyond to support our requirements providing an informative but tailored service for me and my family. We were able to contact her almost any time and she was delightful to talk to. We really appreciate all she has done. Really a great service from Laura outstanding professionalism. Thank you so much to go mortgage and to LauraThompson!!
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Your home may be repossessed if you do not keep up repayments on your mortgage.
