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lifetime mortgage
fizzy_lizzie
Posts: 15 Forumite
in Loans
am considering taking out a lifetime mortgage. I have paid back my "ordinary" mortgage. I am wanting to either buy a share of the freehold of my flat or extend its lease which is only 56 years now! Any experiences of the above?
0
Comments
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How much does the lease on your property cost to extend and how long can you extend it for? 56 years on a lease is quite low and may affect the price of your property (if you ever intend to sell it), it may be better to extend the lease before taking out a lifetime mortgage. Have you thought about buy to let? With enough capital to buy outright or a good proportion of it would provide a good rental income.0
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