We offer advice and recommendation on an extensive range of mortgage products
Later Life Lending
Due to increased longevity and the rise in house prices, the demand for later life lending/equity release has increased conspicuously in recent years.
At Capricorn, we tailor and provide equity release plans from numerous market leading lenders that are approved by the Equity Release Council. Thus, whether you are buying a new home and in need of a mortgage, have an existing mortgage and cannot re-mortgage owing to low incomes or age restriction yet you want to continue living in your own home, have unencumbered property and want to help your loved one to get on the property ladder or gift a living legacy to your family, require funds for home improvement, or simply need supplementary incomes to maintain your lifestyle, an equity release plan could be a suitable solution for you irrespective of your incomes and employment status.
A lifetime mortgage is not suitable for everyone and may affect your entitlement to means tested benefits, so it is important to seek financial advice before taking any action. If you are considering releasing equity from your home, you should consider all options available before equity release.
The interest that may be accrued over the long term with a Lifetime Mortgage, may mean it is not the cheapest solution. As interest is charged on both the original loan and the interest that has been added, the amount you owe will increase over time, reducing the equity left in your home and the value of any inheritance, potentially to nothing.
Although the final decision is yours, you are encouraged to discuss your plans with your family and beneficiaries, as a Lifetime Mortgage could have an impact on any potential inheritance. We would also encourage you to invite them to join any meetings with your Financial Adviser so they can ask questions and join in the decision, as we believe it is better to discuss your decision with them before you go ahead.