Remortgage Your Equity Release
Do you have an existing Equity Release Plan?
As with standard mortgages you may be able to switch your lifetime mortgage to take advantage of falling interest rates and a better deal.
A new plan may offer:
• A reduced interest rate
• Saving your estate substantial sums
• Allow additional borrowing
• Increased flexibility
Table on 1% reduction on typical loan:
Based on a typical loan of £60,000 with a reduction of interest rate from 8% to 7% the following amounts could be saved:
Year 5 £4.006
Year 10 £11,506
Year 15 £24,788
Year 20 £47,476
Year 25 £85,262
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