Northern Rock Equity Release Mortgage

A Northern Rock Equity Release mortgage is one of the selection of Lifetime Mortgages available to unlock some of the equity in your home in the UK mortgage market.

The Lifetime Mortgage is a special kind of loan for homeowners aged sixty and over. Although it’s secured on your property, there are no monthly payments to make and it is designed to help you remain in your home for as long as you wish.

You can use it to make life more pleasant in a thousand and one ways.

A Lifetime Mortgage allows you to benefit from the financial investment you’ve made in your house with absolutely no worries of having to give it up.

Interest will be added to your loan and the full amount is paid back when your home is eventually sold following your death (or the death of the second borrower if it is a joint application) or if you move into long-term care or sheltered accommodation.

Unlike the majority of equity release products available from other lenders, not only do Northern Rock provide the option of either a one-off cash lump sum or monthly cash release for life, but you can actually choose a combination of both to suit your individual needs.

A new addition to the Northern Rock equity release product range is the Protected Equity Lifetime Mortgage, allowing your to protect a proportion of the sale value of your home. This is an ideal option if you would like to release some equity, but may also wish to leave a nest egg for your family after repayment of the loan.

The Northern Rock Protected Equity Lifetime Mortgage can provide you with the peace of mind that whatever happens, a proportion of the eventual sale value of your home will be passed on to your loved ones. And that's guaranteed! Also, a new enhancement to the range is the introduction of a lower interest rate tier for those customers releasing a lower proportion of equity from their home. In simple terms, if you release less, the interest rate charged is lower.

At Northern Rock, they are constantly reviewing their Equity Release lifetime product range to ensure that they not only remain competitive, but continue to offer new and innovative products.

To find out more about a Northern Rock Equity Release Lifetime Mortgages , simply complete the Northern Rock Equity Release Mortgage Quote to receive details of the best Northern Rock Equity Release Mortgage to suit your individual circumstances. Alternatively call 0800 801079 to speak to a mortgage advisor.

 

 

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