Simon Pook, Head of Residential Property
– If you have an interest-only mortgage, you could use equity release to pay off the balance of your mortgage which will enable you to stay in your home without downsizing. Please contact us for advice on equity release.
Older homeowners with interest-only mortgages they cannot pay off at the end of the term are being offered more ways to stay in their homes.
By releasing equity from a property, it is possible to clear the debt, meaning a homeowner can live there until they die or go into long-term care.
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