Lifetime mortgages can be a solution for a variety of financial needs in retirement:
- Money to pay off an interest-only mortgage or other debts
- Money to maintain or boost retirement lifestyle
- Money to fund a dream holiday, home improvements or another project
- Money to help family members with education fees, special events or buying a property.
Although equity release can be used to repay existing debts this may end up costing the customer more in the long term. As people continue to live longer and have a desire to make the most of the years they spend in retirement, the pension savings they have made over their lifetime may have to stretch further than they had initially planned.Whether they need to find additional sources of funds or boost their income, the Just For You Lifetime Mortgage could be the solution they are looking for.
The flexibility of our lifetime mortgage allows us to cater to varying customer needs. For customers who are able to and want to make monthly payments, they can choose to pay some or all of the monthly interest amount by direct debit. With features such as payment holidays and the ability to stop making monthly payments altogether, this option is designed to allow for change in your client's circumstances.
For clients who need a flexible cash facility from which they can draw down cash advances at any time, we're able to provide the option of a pre-agreed cash facility from which they must take an initial lump sum payment.
To find out more, take a look at the information we have provided below.
Coronavirus: Changes to our lending criteria
Get updates on our lending criteria based on the government’s latest guidelines.