Switching an existing Equity Release mortgage
Read about how we can help to switch an existing Equity Release mortgage
Mr Singh, EN2 Enfield
Our client approached us as he had taken an Equity Release mortgage out over 10 years ago. He was paying an interest rate of over 6% which is high compared to todays rates. We were able to switch him to a new lender which offered a rate below 4% which will save his estate thousands of pounds assuming an average life expectancy. It was important that we accessed all the fees associated with switching the plan and took into consideration if there were any early repayment penalties. It made financial sense in Mr Singh’s case to switch lenders but there could be occasions where moving your plan isn’t the right decision and getting the right advice is crucial.
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.
The guidance within this website is solely targeted at consumers based in the UK.
We charge a fixed £1195 fee, only payable at completion.
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