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Lifetime mortgages, often referred to as Equity Release are available for homeowners who are looking to release equity from their property.

They are normally available for people over 60 and the main advantage of this type of scheme is that you do not have to make any payments on the loan. The interest is 'rolled up' and paid back when the property is eventually sold.

This can help improve the standard of living for people in retirement without sufficient pension income or who need capital for living expenses.

These schemes can be quite complex and we would recommend that expert advice is always taken before entering into such an arrangement.