Home Equity Mortgages
At Jackson Lees Solicitors we have extensive experience in advising clients on the implications of taking out a Home Equity Release Mortgage.
Such products are often referred to as “Lifetime Mortgages.”
They are special loans, which are usually designed to run for the rest of your life. It means that you can borrow money that is secured against your home to give you either a lump sum or regular income.
The amount that you owe to the Mortgage provider is usually paid back from the proceeds of the sale of your home following your death.
As Solicitors, we cannot comment on the financial viability of the Mortgage product offered to you, or how it compares to other products on the market. However, we make sure that you understand the legal obligations and implications that the Mortgage will have upon you.