A company that specialises in bad credit remortgages and refinance loans brokerage has launched a new service to help people find low rate retirement home finance options including equity release.
A company that specialises in bad credit remortgages and refinance loans brokerage has launched a new service to help people find low rate retirement home finance options. This includes equity release, lifetime mortgages, and retirement mortgages.
Find out more at https://www.polarmortgages.co.uk/cashback-mortgages.htm
The newly launched service from Polar Mortgages offers deals from well-known mortgage lenders around the UK. For instance, an equity release product available is the Aviva lifetime mortgage with cashback, which helps people remove tax-free money from their property while they remain living in it.
Enhanced equity release is also available from some mortgage providers. Polar Mortgages says many people are looking for interest-only lifetime mortgages, lump sum lifetime mortgages, or monthly payment equity release, however, options known as ‘Sunlife Plans’ available from AIG Life may require proof of an individual’s personal situation in the form of bank statements. Find out more about enhanced equity release here https://www.polarmortgages.co.uk/more-2-life-enhanced.
Polar Mortgages says the amount of equity released may vary depending on the provider. The company estimates a typical figure could be between 25%-50% and this may take the form of a monthly payment. As people get older and suffer illness, they are likely to be able to release more equity from their property.
Aside from the companies already mentioned, Polar Mortgages says Legal and General provides tailored rates for its equity release products and generally offers low rates. For instance, its black product offers a low loan to value ratio with a rate of 2.37% MER while the highest rate sits at around 4% and is called the flexible Indigo product.
This product offers a no negative equity guarantee as well as optional partial repayments, which allows customers to make flexible payments when it suits them. Some people use equity release to buy investment property that will generate them a regular monthly income or a lump sum if they buy a property to quickly repair and flip.
A company spokesperson said: “Equity release is the process of borrowing cash from your house to invest it or make use of it and is one of the best ways to borrow cash from your house.”
“If you are retired and looking for ways to get back some money then you could consider equity release as an option. In this way, you can borrow the amount that you can afford and invest it in different kinds of assets and make use of it when you feel the need,” they added.
To find out more, interested parties are invited to visit the links provided. Alternatively, click here https://www.polarmortgages.co.uk/mortgage-article11.htm.