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A lifetime mortgage in Coventry is a type of equity release that provides flexible financial solution designed for those aged 55 and above.
It enables you to access a portion of your home’s value without needing to sell or move out, giving you greater control over your finances in retirement.
With options like interest roll-up or voluntary repayments, you can tailor the plan to suit your goals.
With a lifetime mortgage, you’ll retain full ownership of your home, and they are available on both freehold and leasehold properties.
Speak with a knowledgeable mortgage advisor in Coventry to learn more about how this product could work for you.
Lifetime mortgages in Coventry typically come in two forms for those aged 55 and over. Lump sum lifetime mortgages provide a single, tax-free payment for significant expenses, while drawdown lifetime mortgages allow you to release smaller amounts over time.
As a trusted mortgage broker in Coventry, we often recommend lifetime mortgages for needs like:
As experienced providers of lifetime mortgage advice in Coventry, we frequently help older borrowers who use these products to purchase a property for various reasons, such as:
Should a lifetime mortgage not be the right option, we’ll suggest alternative mortgage products for the over-50s in Coventry that align with your financial goals.
Yes, a lifetime mortgage can be used by those aged 55 and over to fund a move to a new property.
This option is ideal for individuals looking to downsize, relocate to Coventry to be closer to family, or purchase a home that better meets their needs.
With a lifetime mortgage, you can access funds for the move while retaining ownership of your property.
A mortgage broker in Coventry can guide you through the process, ensuring the plan is tailored to your financial goals.
No, having a lifetime mortgage doesn’t mean you’re stuck with it indefinitely.
Many plans include flexible options, such as voluntary payments to reduce the balance over time or the possibility of remortgaging to a new plan if your needs change.
Regular reviews with a mortgage broker in Coventry can help ensure your lifetime mortgage remains suitable and aligned with your goals.
As well as speaking with your later life mortgage advisor about whether equity release, and subsequently a lifetime mortgage, is right for you, it’s worth taking the time to consider any additional arrangements for the future.
There are several over 50’s life insurance policies available from our team that, if suitable for your circumstances, can help offset the cost of a lifetime mortgage over the life policy term.
We would also recommend discussing your lifetime mortgage plans with your family, updating your will, and setting up arrangements for any lasting powers of attorney.
These steps are important, as it is often your family, either as beneficiaries after your death or as attorneys should your mental capacity become impaired, who will be involved in selling the property to repay the lifetime mortgage.
Proper planning now not only ensures a smoother process for your loved ones later but can also make things more cost-effective in the long run.
Our Customers Love Us
5.00 Rating37 Reviews
K
Excellent service and guidance all the way through the process. Leo and Lizzi were very helpful in finding me the right product.
4 months ago
Diane
Very professional and kept me informed throughout the process of securing our equity release. I would recommend them especially for those who are a little unsure of how equity release works and if it's right for them
5 months ago
Diane
Very helpful, easy to get hold of when needed! Able to answer all my questions
10 months ago
Ajay
Made the process easy and understandable, presented all possible options and advised on what would be best suited for us. Always available to answer any queries or resolve any issues that arise. Would definitely use again in the future.
1 year ago
Luke
Incredibly quick, concise and professional. Regularly kept in he loop and gained all the knowledge required to be able to buy a property. Couldn't of asked for anything more and I can't thank them enough for all the help received.
1 year ago
Carol
Friendly efficient service, took their time to explain the procedure etc, I would definitely recommend them.
1 year ago
Joshua
Leo is always a pleasure to talk to. Very friendly and knowledgeable, and allows us to ask questions, no matter if we’ve asked before orbits really obvious
1 year ago
Gurjeet
Really helpful and clear.
2 years ago
Gemma
From first discussions with Tom to being passed over to Lyndsey, the whole process was easy and seamless. Everyone I have dealt with at Moneyman have been really helpful and friendly, which has helped take the stress out of applying for a...
2 years ago
Matthew
Jenny has been extremely helpful throughout the process and resolved any issues quickly. Thanks!
2 years ago
Susan
Very good service over the moon Wayne and Megan no there stuff
2 years ago
Dean
4 weeks and got my offer very good service from Wayne and Megan can not fault them
2 years ago
Anonymous
Great service
2 years ago
karan
Fantastic service. From start to finish I had everything clearly explained and the broker always had my best interest in mind. I highly recommend for first time buyers!
3 years ago
Anonymous
The service provided is personal and efficient. The team are willing to help and will try hard to meet tough timings to support an application. Would recommend
3 years ago
Thomas
Brilliant! Really helpful, did everything for us, explained the process clearly and made it all so easy! We wouldn't have gotten a mortgage without them!
3 years ago
Joshua
Really friendly advisors who are happy to answer any questions. Leo walked us through the entire process, and was happy to go over things to make sure we fully understood and were happy with everything.
3 years ago
Manpreet
Helen was really warm and friendly.
3 years ago
Hannah
Very helpful, very polite and knowledgeable! Would recommend to anybody
3 years ago
Mark
Charlie was thorough and informative. What we really liked is that he always asked if we understood what he was saying and would ask if we had any questions
3 years ago
We start with a free lifetime mortgage appointment in Coventry with one of our experienced advisors. This no-obligation session allows us to understand your financial goals and explore whether a lifetime mortgage is right for you. It’s a chance for you to ask questions, learn about the options available, and receive expert advice tailored to your individual needs and future plans.
Equity release may not always be the best option, and our advisors will ensure you consider all alternatives before making a decision. Depending on your situation, options like downsizing, accessing savings, or exploring other financial products could be more suitable. We provide impartial mortgage advisors in Coventry to help you choose the most effective solution for your circumstances in Coventry.
Deciding on a lifetime mortgage is an important step, and we encourage you to involve your family or other trusted individuals in the process. Open conversations can help ensure that everyone understands the potential implications for the future. Our mortgage advisors in Coventry are available to provide clarity and support during these discussions, helping everyone feel confident about the decision.
After fully assessing your needs and exploring all alternatives, we’ll provide a personalised lifetime mortgage recommendation. This includes details about the product, lender, and features that match your financial goals. Our mortgage advisors in Coventry will guide you through the process with transparency and care, ensuring you feel secure in your choice every step of the way.
We offer a free mortgage review with our knowledgeable mortgage advisors in Coventry. This no-obligation consultation is your opportunity to receive expert mortgage advice in Coventry tailored to your financial goals.
As a mortgage broker in Coventry, we work with a variety of lenders to find the best deal for you. Our focus is on finding a mortgage product that perfectly matches your needs, whether it’s a lifetime mortgage or an alternative financial solution.
We’re proud to provide an outstanding service to every client. From your initial enquiry to the completion of your mortgage process, our mortgage advisors in Coventry will support you with clear, professional guidance.
We understand that flexibility is important, which is why our mortgage advisors in Coventry are available seven days a week. Whether you need mortgage advice in Coventry during the week or at the weekend, we’ll work around your schedule to help you.
A lifetime mortgage can be a valuable tool for those aged 55 and over looking to supplement their retirement income.
This option allows you to access equity in your property to cover everyday living costs, manage unexpected expenses, or enjoy leisure activities.
With expert mortgage advice in Coventry, you can explore plans that provide financial stability and align with your goals.
Many choose to use a lifetime mortgage to support family members financially, such as helping with a house deposit or contributing to education costs.
Releasing equity allows those aged 55 and over to provide assistance while retaining ownership of their property.
Our mortgage advisors in Coventry can guide you through the process and ensure it works for both your financial needs and family priorities.
For those aged 55 and over, a lifetime mortgage is often used to finance home improvements or necessary adaptations.
From updating kitchens and bathrooms to making accessibility adjustments, this option lets you enhance your property to suit your lifestyle while staying in the home you love.
A mortgage broker in Coventry will help you find the best product to fund your renovations effectively.
Read our 37 Reviews
Coventrymoneyman.com & Coventrymoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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Coventrymoneyman.com & Coventrymoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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