Millennium provides unbiased Equity Release advice on a face to face basis. Able to access a comprehensive range of Lifetime Mortgage products from across the market, our key providers all subscribe to the Standards Board of the Equity Release council. We provide a no obligation consultation to establish if Equity Release is right for you.
This process will include and consider:
A Lifetime Mortgage will reduce the value of your estate and may affect your entitlement to means-tested benefits and tax status. The impact of not servicing monthly interest payments on a Lifetime Mortgage is that the outstanding debt can grow rapidly, thus reducing the value of your estate. For example, if the interest rate was 7% a year, a £50,000 loan would double to £100,000 after 10 years assuming no repayments are made. This is an example for illustrative purposes only and personalised advice and recommendations should be sought from a qualified professional. You are strongly advised to register a lasting power of attorney. This will allow your affairs to be managed by somebody else if your mental abilities significantly decline.
CHECK THAT THIS MORTGAGE WILL MEET YOUR NEEDS IF YOU WANT TO MOVE OR SELL YOUR HOME OR YOU WANT YOUR FAMILY TO INHERIT. IF YOU ARE IN ANY DOUBT, SEEK INDEPENDENT ADVICE.
THERE IS A FEE FOR EQUITY RELEASE ADVICE. WE TYPICALLY CHARGE A FEE OF 1.5% OF THE LOAN AMOUNT PAYABLE ON COMPLETION WITH A MINIMUM CHARGE OF £995. HOWEVER, WEB-ORIGINATING CUSTOMERS WILL BE CHARGED A MAXIMUM FIXED FEE OF £995.
