I have no dependednts or children, so I'd like to make use of the equity in my house to finance a better lifestyle. I'm 58, and my house is worth about 200,000 and I have no mortgage and am in fairly good health.
I've been reading up on the basics of lifetime mortages and home reversion
plans, but I'm having difficulty finding much info on fixed repayment
Does anyone know what the repayment amounts would be, in relation to
various sums I might decide to borrow? In other words, what sort of
percentage of the amount borrowed is the agreed repayment amount?
What are some things to look out for when choosing one of these fixed
repayment lifetime mortages, (apart from the obvious one: the relation of
the repayment amount to the borrowed amount)?
Thanks for any input,
- posted 8 years ago