New Life Equity Release Lifetime Mortgage Scheme

To find out more about NewLife Equity Release Lifetime mortgages and the other leading equity release schemes on the market, Click on the image below to complete the Equity Release Quote request  form and an equity release specialist will be in touch to offer you independent help, advice and quotes.

New Life Mortgages specialises in helping people take advantage of the growing opportunities in the Equity Release market. They  specialise in providing equity release mortgages to the over 55s and are one of the market leaders in the Lifetime Mortgage marketplace.

A Lifetime Mortgage from New Life Mortgages is a special type of loan which is designed to run for the rest of your life. It is a way of releasing equity from your home by enabling you to borrow money to provide a lump sum and/or to release further sums in the future.

This money does not have to be repaid during the life of the mortgage. You make no monthly payments. Instead, the interest accumulates and is added to the mortgage balance each month. New Life Mortgages provides various Lifetime Mortgage options which are:

Lifetime Fix Mortgage

If you are looking to release a high cash lump sum straight away, the Lifetime Fix Mortgage may be the equity release mortgage you need. This mortgage  gives you a cash lump sum with a lifetime fixed interest rate. New Life are always amongst the top lenders who are able to provide one of the highest cash releases available.

Flexible Lifetime Mortgages

If it is true flexibility that you are looking for, you could consider one of the New Life Flexible Lifetime Mortgages.  These give the option of a drawdown portion to be taken either as 10 fixed annual instalments (Fixed Drawdown Option) or on a completely flexible basis at your discretion over a 10 year period (Open Drawdown Option).

Other New Life Equity Release Options

New Life Mortgages also provide mortgage products on properties, other than your main residence, that are not regulated by the Financial Services Authority. These properties include holiday homes and UK residential properties let on Assured Shorthold Tenancies.

New Life Equity Release Lifetime Mortgages are secured on your home and the amount you owe and all interest due, is only paid back from the sale of your home, after your death or if you go into long term care.

If you are borrowing with your spouse or your partner or somebody else, the money will only need to be paid back following the last surviving of you dying or moving into long term care. Any money left over would belong to your estate.

Your property needs to be mortgage-free or, if there is a mortgage outstanding, this needs to be repaid either before or at the time your new Lifetime Mortgage begins. You can, of course, use the funds released to you to do this.

If, during the period of your loan agreement, you wish to move you may well be able to transfer your New Life Lifetime Mortgage to your new home without paying an Early Repayment Charge.

Alternatively, New Life Mortgages may be able to arrange a new Equity Release Lifetime Mortgage for you. Otherwise, you will need to repay the sum you owe New Life from the money you receive from the sale of your home. Any money left over would belong to you.

If you should decide that you don’t want to continue with your New Life Lifetime Mortgage anymore, you can simply repay the amount you them at any time but you may be required to pay an Early Repayment Charge.

THIS IS A LIFETIME MORTGAGE. TO UNDERSTAND THE FEATURES AND RISKS,
ASK FOR A PERSONALISED ILLUSTRATION.