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Clearing existing debt or mortgages

Want to clear an existing debt? Read more below.

Clearing Existing Debit or Mortgages

Again, this is an area which has seen huge increase over the last few years. Some people struggle with monthly outlay on mortgages and debts and can use Equity Release to free up monthly income. Interest only mortgages coming to the end of the term can be cleared by using Equity Release.

You should be aware that whilst this may reduce your monthly outgoings in the short term, the total amount repayable is likely to be greater due to the longer term. Make sure you fully understand the implications and risks inherent in securing credit, which was previously unsecured, against your home.

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 Services Ltd, 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 £995 fee, only payable at completion.

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