Roll up Lifetime Mortgages involve NO monthly or regular payments so the debt builds up and compounds. Most Lifetime Mortgages arranged are done on a roll up basis as the borrower has no monthly payments to commit to, whilst getting the benefit of the cash lump sum. The amount borrowed plus the rolled up interest is repaid when the property is sold, unless a borrower chooses to repay from other means.
© London Equity Release Advice 2024
Lovingly crafted by You I