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    • Onlooker
    • By Onlooker 8th Sep 17, 5:16 PM
    • 40Posts
    • 11Thanks
    Lifetime Mortgage
    • #1
    • 8th Sep 17, 5:16 PM
    Lifetime Mortgage 8th Sep 17 at 5:16 PM
    Proposal announced by the Financial Conduct Authority to make it easier for borrowers to extend their Mortgage or Interest only mortgage for their own lifetime.This would ,they say,give borrowers an alternative to Equity Release,downsizing or having to sell their properties.A leading acturary consultant points out that Equity Release,espicially as a Lifetime Mortgage,includes compounding interest resulting in rapid erosion of the housing funds available for a bequest-this new deal will be cheaper..Sounds like worth wating for any forth coming changes.
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    • merrydance
    • By merrydance 8th Sep 17, 5:28 PM
    • 422 Posts
    • 332 Thanks
    • #2
    • 8th Sep 17, 5:28 PM
    • #2
    • 8th Sep 17, 5:28 PM
    I have taken equity release on my property and as long as I pay the interest every month, it does not compound. Sound like the same sort of thing?
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