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What is the difference between equity release and a lifetime mortgage?

Equity release enables homeowners over 55 to continue to live in their home while getting a cash lump sum or income from it. A lifetime mortgage is one of the two main types of equity release plans, the other being a home reversion plan.

Lifetime mortgages are by far the most popular type of equity release accounting for 99% of plans sold.

Continue reading “What is the difference between equity release and a lifetime mortgage?”

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What is the difference between equity release and a lifetime mortgage?

Equity release enables homeowners over 55 to continue to live in their home while getting a cash lump sum or income from it. A lifetime mortgage is one of the two main types of equity release plans, the other being a home reversion plan.

Lifetime mortgages are by far the most popular type of equity release accounting for 99% of plans sold.

Continue reading “What is the difference between equity release and a lifetime mortgage?”