Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Beggerman
    • By Beggerman 8th Oct 17, 6:20 PM
    • 2Posts
    • 0Thanks
    Beggerman
    Lifetime Mortgage
    • #1
    • 8th Oct 17, 6:20 PM
    Lifetime Mortgage 8th Oct 17 at 6:20 PM
    The premise of a a future after taking out a Litetime Mortgage .You will always own your home.Yes but not 100% of its value.The Legal Charge put against your property can reduce that figure by 30-40%.No monthly payments.That means the interest due is added on annually and can double your debt every 14/15 years.No Negative Equity guarantee.This is hard to calculate but you may have to live much more than 50 years to reach that point .All calculations will be issued before signing to your future.Request them.
Page 1
    • worried jim
    • By worried jim 8th Oct 17, 6:25 PM
    • 8,765 Posts
    • 13,374 Thanks
    worried jim
    • #2
    • 8th Oct 17, 6:25 PM
    • #2
    • 8th Oct 17, 6:25 PM
    Idiot + Spam = Reported.
    "Only two things are infinite-the universe and human stupidity, and I'm not so sure about the universe"
    Albert Einstein
    • kingstreet
    • By kingstreet 8th Oct 17, 6:27 PM
    • 32,366 Posts
    • 17,376 Thanks
    kingstreet
    • #3
    • 8th Oct 17, 6:27 PM
    • #3
    • 8th Oct 17, 6:27 PM
    The premise of a a future after taking out a Litetime Mortgage .You will always own your home.Yes but not 100% of its value.The Legal Charge put against your property can reduce that figure by 30-40%.No monthly payments.That means the interest due is added on annually and can double your debt every 14/15 years.No Negative Equity guarantee.This is hard to calculate but you may have to live much more than 50 years to reach that point .All calculations will be issued before signing to your future.Request them.
    Originally posted by Beggerman
    Please stop assuming every lifetime mortgage is based on interest roll-up or at least say that's what you are talking about.

    How many logins is that now?

    No. I do not sell, advise on or otherwise derive any income from such business.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
    • maisie cat
    • By maisie cat 8th Oct 17, 6:35 PM
    • 278 Posts
    • 310 Thanks
    maisie cat
    • #4
    • 8th Oct 17, 6:35 PM
    • #4
    • 8th Oct 17, 6:35 PM
    A lifetime mortgage can make the difference between enjoying old age in your home and being forced to downsize. The only people with a problem are likely to be money grabbing children because their inheritance will reduce.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,398Posts Today

7,666Users online

Martin's Twitter