Clearing an existing mortgage
Read about how Equity Release can help to clear an existing mortgage
Mr & Mrs Powell, NW6 West Hampstead
The clients existing interest only mortgage was due to expire very soon, they had no means to repay the balance and were anxious at the thought of having to sell their home and downsize. They had lived in their family home for over 30 years and downsizing would have more than likely meant moving out of the area and leaving behind friends and the community they were part of.
They were able to use Equity Release to clear the existing mortgage balance and remain in their own home for as long as they wished to. They even elected to pay the interest each month to keep to a similar arrangement as to that of their expiring mortgage.
CHECK THAT THIS MORTGAGE WILL MEET YOUR NEEDS IF YOU WANT TO MOVE OR SELL YOUR HOME OR YOU WANT YOUR FAMILY TO INHERIT IT. IF YOU ARE IN ANY DOUBT, SEEK INDEPENDENT ADVICE.
We provide whole of market advice on Lifetime Mortgages. We DO NOT give advice on or arrange Home Reversion plans.
London Equity Release Advice is a trading style of R Young Financial Consulting Ltd (FCA number 539235) which is an appointed representative of JLM Mortgage Network, which is authorised and regulated by the Financial Conduct Authority (FCA) registration number 300629.
The FCA do not regulate some forms of mortgages. R Young Financial Consulting Ltd is UK registered company( No: 09128155).
Registered address: The Yew Tree Inn, High Street, Gresford, Wrexham, United Kingdom, LL12 8RF.
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