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Lifetime Mortgage
Downsizer
Posts: 16 Forumite
Millions of people have bought and paid for their homes over the usal 20/25 years
A Lifetime Mortgage appears to us the reverse of that.Instead.you will be giving up part
ownership of your paid for house by way of a new legal charge on what you borrow an
payng interest which will not stay static because it is compounded ,that is interest on
interest which will increase your debt year by year for your Lifetime,hence the name
It will cost you and your family a bigger percentage loss against you home until it ends
Look to alternatives.Downsizing,though in some cases a difficult thing to do will provide
the same funds you were maybe looking for,we did.
A Lifetime Mortgage appears to us the reverse of that.Instead.you will be giving up part
ownership of your paid for house by way of a new legal charge on what you borrow an
payng interest which will not stay static because it is compounded ,that is interest on
interest which will increase your debt year by year for your Lifetime,hence the name
It will cost you and your family a bigger percentage loss against you home until it ends
Look to alternatives.Downsizing,though in some cases a difficult thing to do will provide
the same funds you were maybe looking for,we did.
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