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Can Equity Release Be Paid Back?
Can Equity Release Be Paid Back? Yes, equity release can be paid back. While it's designed as a long-term solution, many Lifetime Mortgages offer flexibility for voluntary repayments. Homeowners may choose to repay part or all of their loan to reduce interest, manage future finances, or protect their estate for inheritance purposes. Some plans allow interest-only repayments to prevent the loan from growing over time. However, repayment terms and potential early repayment charges vary by provider, so it's important to understand your specific plan. At My Later Life, we guide you through all your equity release options for the best outcome.
Read more...My Later Life Director Graham Clelland on Demystifying Mortgage Terms
We are thrilled to announce that Graham Clelland, one of our distinguished directors at My Later Life, has been featured on the Mortgage Adviser website. His expert advice on simplifying complex mortgage terms for clients reflects his dedication to making the mortgage process more accessible and understandable. As a trusted leader in our sector, Graham continues to represent our values of clarity and client-focused service, reinforcing our mission to support individuals in later life financial planning. Read the full interview [here](https://mortgageadvisor.io/qa/how-do-you-simplify-complex-mortgage-terms-for-your-clients/).
Read more...What Is a Lifetime Mortgage, and How Can It Help with Inheritance Tax?
My Later Life: Your Award-Winning Later Life Mortgage and Equity Release Experts Supporting Your Financial Future with Tailored Equity Release and Inheritance Tax Solutions
Read more...Is a lifetime mortgage a good idea Martin Lewis
Martin Lewis advises that caution should be taken when considering lifetime mortgages. While they allow homeowners over 55 to release equity from their property, the compounding interest can significantly reduce inheritance. He recommends exploring alternatives first like downsizing or remortgaging, and consulting with a specialist to fully understand the long-term costs. At **My Later Life**, we support his advice, offering tailored guidance to ensure you make informed decisions. Lifetime mortgages may be suitable for some, but they require careful consideration and professional advice.
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My Later Life Planning (Office Address: 94-96 Seymour Place, London, W1H 1NB) is a trading style of My Group Inc Ltd an appointed representative of The Right Mortgage Limited who are authorised and regulated by the Financial Conduct Authority under reference number 976283.
My Group Inc Ltd is registered in England & Wales. Company Number 13613921. Registered Office 82 Rainham Road, Rainham, RM13 7RJ
A fee may be charged for mortgage advice. The exact amount will depend on your circumstances.
This is a lifetime mortgage. To understand the features and risks, please ask for a personalised illustration. Check that this mortgage will meet your needs if you want to move or sell your home or you want your family to inherit it. If you are in any doubt, seek independent advice.
Inheritance Tax Planning, Will writing, Lasting Powers of Attorneys, Estate Planning and Trust Planning are not regulated by the Financial Conduct Authority.
The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.
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