Finding out about parents’ lifetime mortgage

Avocadoegg

Apologies if this question has already been answered on here, but we are looking for advice about lifetime mortgages. We recently discovered that our parents took out a lifetime mortgage in 2000. Our father passed away recently and, while going through the paper work, discovered a detail quote for a second lifetime mortgage from another company in 2010. Our question is: is it possible to release equity using two different companies and have loans run concurrently? We’ve searched google but can’t find a definitive answer on this. I’d like to know if this is even a posisibility before I do any more digging to find out if this quote was ever taken up. Thanks in advance!

Let_Us_See

Your father would have had to repay the original lifetime mortgage prior to taking out a re-mortgage. Check title deeds to confirm First Charge holder and current lender.

Avocadoegg

Thank you, this is very helpful!

amnblog

The Land Registry entry for the property will indicate who has a charge against it.