Lifetime Mortgage

veesharp · 10 June 2018 at 9:57AM

Onlooker wrote: »

Talking of advertising we noticed than instead of spending the usual large amount on a full page Lifetime Mortgage advert one of the leading advocates opted for paying for about 10% of a page,top left hand corner.Why?
It must be said that it did contain information on the most relevant parts of taking out a Lifetime Mortgage, Copy is.

A lifetime mortgage is a loan secured against your
home.Equity Release will reduce the value of your

estate and may effect your entitlement to means

tested benefits.Think carefully before securing a

loan against your home.

Consider.

Consider it considered. I!!!8217; m not foolish enough to expect what!!!8217;s left in my estate NOT to reduce in value should I want to take out a huge lump sum now! It!!!8217; s pretty obvious really... like I said before, I do not want to live in poverty now in order to protect the value of my estate esp if there !!!8216; s no use for my estate when I !!!8216; m dead! As a society we !!!8216;re obsessed with holding on to stuff.... can !!!8216; t take it with us when we die now can we?

Jane_B · 11 June 2018 at 2:39PM

Onlooker wrote: »

Picked up a newspaper Monday morning,opened it up only to find I had paid for two and a half full pages of advertising for Lifetime Mortgages.At what cost I wonder,probably in the the region of £80,000.00 just for one day.Who will be paying that annual bill of over 3 million pounds?
Whilst on line I am having trouble with squirrels eating my nuts so clicked onto a help site,I noticed that Saga,you know they who help the older generation ,for help,which I got.Then I noticed as an aside that they where offering Equity Relief.What?Lets hope that they are more informative to people of lesser financial understanding than othersJust saying...Consider

if you think advertising in national news papers cost £80,000 a day you are more silly than first thought! its so far out of reality. Max you're looking at £10k for a full page in a top rated paper. Most use agencies so get it for far less too.

Also what has that got to do with any of your ridiculous rambling. You messed up, deal with it.

Onlooker · 15 June 2018 at 11:53PM

Looking again at the 40 odd pages supplied at the beginning of this our involvement in a Lifetime Mortgage and trying to find a way to escape the trap that anyone who wants to leave finds themselves in.We looked at the only alternative which was to switch to a cheaper rate on the market.This of course would entail paying the early repayment charge of about 25% of any loan.Then realised that if we waited until we wre102 years of age in 2042 that charge would,in their words,cease to apply.At this moment dare not calculate what amount would be due on that birthday but it probably will spoil the party.

[Deleted User] · 16 June 2018 at 7:11AM

Can this thread be closed now please, it goes nowhere.

Onlooker · 17 June 2018 at 4:49PM

We would like to thank everyone for their replies on this thread.The observations are highly informative .
They reveal a somewhat over protective nature and inward looking side to their industry when anyone tries to justify a valid reason for not entering the lifetime of commitment to their product.We can presume that none of the subscribers have followed our path and ended up in the position we are in now and for the unforeseeable future.
If we had seen and understood the nature of the trap that is a Lifetime Mortgage as revealed we would taken alternative measures no doubt.

ACG · 17 June 2018 at 5:05PM

Onlooker wrote: »

The observations are highly informative .
They reveal a somewhat over protective nature and inward looking side to their industry when anyone tries to justify a valid reason for not entering the lifetime of commitment to their product.

The irony.

robatwork · 17 June 2018 at 6:43PM

I do love a meandering thread, and boy does this one meander. There's ox-bow lakes formed back there......

Just to point out as you seem a bit "green" about this forum; most people here are humble members of the public, who will be taking out, or have taken out a mortgage.

There are some advisers and financial "professionals" but they self-identify if they are posting as such, and they aren't allowed to give advice, only opinion.

I have no axe to grind with you or the financial industry, but I see this thread as something useful to others searching for info on these products. You need to acknowledge your part in taking out this mortgage and the benefit you have had from it.

Onlooker · 23 June 2018 at 10:14AM

Quote from Hamlet by you know who."The slings and arrows of outrageous fortune".
Is he refering to some of the replies to the postings of anyone who has a different point of view with regard to the Equity Release market .As for the fortune part we can only congratulate William

on his foresight over 400 years ago.Consider

kingbess · 23 June 2018 at 10:28AM

Raising money on mortgage free property
Is it ever possible for one joint tennant to raise money on property without the consent of the other?
Facts: £600k value, no mortgage, £80k required.
other tennant not lived in property for over 20 years (total 29years since first morgaged)
Sorry if this is wrong place but I cannot find NEW THREAD option

Cham99 · 23 June 2018 at 1:08PM

Lifetime Mortgage. Awesome price !!!!!!!!!!!!

Lifetime Mortgage

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