Lifetime Mortgage

Paqman

I have a lifetime mortgage (due to personal circumstances) which is coming up to review and I am looking to get the best deal of the same product. I am 67 and have a guaranteed income for the rest of my life and the paying is not a problem. I could not at this time of life take on a normal repayment one.
My question : does anyone know of what Mortgage lenders are still offering this kind of product. If not I will have no alternative but to remain with my existing lender.

Lipstick_2

What is your understanding of, as you say, a lifetime mortgage?

poppy10_2

Yeah, you seem to be very confused?

Paqman

What I mean is the mortgage I have at present is an Interest Only one and because of my age I cannot take on a full term. This is called "A Lifetime Mortgage" as I will never pay off the amount owed and the Mortgage Company have 1st Charge on my property so when I pass away they take their amount out of the estate then the rest goes to my children.I have no problem with this as I as said a Guaranteed income and only owe less than half of the market value of the house.Also I am not to worried about paying off the capital.