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•   Equity Release
•   What is Equity Release?
•   What is a lifetime mortgage?
•   What is a home reversion plan?
•   Fees and Costs
•   Existing mortgages
•   How can Later Life Matters Limited help me?
•   Common questions
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Fees & Costs

Both Lifetime Mortgages and Home Reversion Plans have costs and fees to pay and these will be clearly set out in any illustrations we provide to you.  These could include: -
  • Arrangement and/or Application Fees to the Lender
  • Valuation Fee – linked to the value of your property and paid to the Lender
  • Legal Costs
  • Buildings Insurance – you will continue to be responsible for this cover as part of the terms and conditions of the scheme
  • Early Repayment Charge– if you repay your lifetime mortgage before the end of the contract (you die or move into Long Term Care)
  • Possible Rental Charges – in relation to Home Reversion Plans.
  • Extra Lending Fees – if you choose a Drawdown arrangement and wish to draw further monies in the future
Some of these costs could be added to the loan but although this could mean paying less up-front, you pay interest on the amount added.

Many Lifetime Mortgages are also portable, which means that you could move home in the future
(depending on the Lender chosen).

It is possible that the lump sum and/or income you receive from Equity Release could affect your entitlement to any means-tested State Benefits you may currently receive. Means-tested State Benefits could be assessed on your investments, assets, income or a mix of all three. We will review this as part of our advice process.


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