• How Flexible are Lifetime Mortgages for Residential Interest-Only Customers Looking to Escape & Maintain Status Quo?

    By Simon Maher on

    There has been much publication around the subject of interest-only mortgages in the residential property market and later life lending. One option for people stuck with interest-only mortgages and looking for a solution to repay and maintain status quo, is a lifetime mortgage. Here I wish to explain how the many flexible features of lifetime mortgages can help people in such situations. Over the last few years lifetime mortgage lenders have become more creative and launched more products to satisfy the ever-increasing growing demands of Lifetime Mortgage customers. As an equity release specialist, I have been advising on this product…

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  • Legal & General Optional Payment Lifetime Mortgage – A Toe in the Water Before a Dive into the Retirement Interest Only Market?

    By Mark Gregory on

    The recent launch of Legal and General Home Finance’s Interest-Only Lifetime Mortgage has generated a lot of media commentary. The Optional Payment Lifetime Mortgage plan aims to address some of the issues surrounding the plight of over 1.6 million interest-only mortgage prisoners. But is the product worthy of all the fuss? Here we discuss the merits of the Optional Payment Plan and its timely launch – at the dawn of the Retirement Interest-Only Mortgage era. The term ‘Interest-only’ has been synonymous with the economic crash over a decade ago, when poor lending eventually led to a tougher stance by the Financial…

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