Bridger's Law

Equity Release Mortgage

Equity release mortgages

Equity release mortgages are also known as lifetime mortgages.

These type of mortgages got a bad reputation as banks took possession of properties once the borrowers had passed away way back in the 1990’s.

Today’s Equity release mortgages are different to what was being offered in the 1990’s.

Residential Services

Equity Release Mortgage

An Equity Release mortgage is really a lifetime mortgage where monthly repayments are usually not made and the full amount is usually payable upon the occurrence of one of the following:

1. The passing away of all of the borrowers
2. Where the house is no longer occupied and won’t be occupied due to the borrowers going into long term care
3. Upon the sale of the house.

The circumstances my differ from borrower to borrower and we will ensure that you know exactly what their terms and conditions are.

Often Lenders will make a loan facility available so that funds may be drawn down as needed. For example if a sum of £100,000 is made available but you only require say £10,000 then this may be drawn down and interest will only accrue on the amount that has been drawn down.

The money may be used for anything, whether it’s helping a grandchild get onto the property ladder, going on that dream holiday or installing a stair lift, downstairs toilet or conservatory or perhaps buying a new comfortable and reliable car.

The total sum which will need to be repaid will increase as interest is added to the capital amount borrowed.

Some Lenders allow payments to be made thereby nullifying the interest if the full amount of interest is repaid each month if this is preferable.

Why not pop in so that we may discuss this with you?

Contact us today to discuss your requirements

 

Give us a call to discuss your needs on 01795 505 992

 

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Highly recommended for his attention to detail and impartial advice

Very professional services received from Duane Bridger. Highly recommended for his attention to detail and impartial advice. Communication both timely and effective. We will be utilizing Bridger’s Law for future commissions.

A G

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Fantastic firm, really look after their clients interest

Fantastic firm, really look after their clients interests. Thanks for the excellent service I recieved!

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Wonderful service, highly recommended. Quick and accurate replies to any questions and super friendly, Bridger’s made the whole process really easy and painless. This is the level of service that people expect these days, and unlike so many other legal teams, they deliver all the time. Use them an…

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Wonderful service, highly recommended. Quick and accurate replies to any questions and super friendly, Bridger’s made the whole process really easy and painless. This is the level of service that people expect these days, and unlike so many other legal teams, they deliver all the time. Use them and find out for yourself.

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100% professional and seamless process during some very difficult processes, all made very easy by the team. Highly recommend.

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100% professional and seamless process during some very difficult processes,

100% professional and seamless process during some very difficult processes, all made very easy by the team. Highly recommend.

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Great service. No problems highly recommend them for dealing swiftly with troublesome contractors.
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Highly recommend working with Duane! He’s on it, keeps you informed and is by your side. All the things you really want in a solicitor!

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He’s on it, keeps you informed and is by your side. All the things you really want in a solicitor!

Highly recommend working with Duane! He’s on it, keeps you informed and is by your side. All the things you really want in a solicitor!

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Bridger’s Law has been professional, supportive, tenacious and kind

Bridger’s Law has been professional, supportive, tenacious and kind. We felt valued and looked after. I recommend them highly and will be using them in the future.

Rimshot Productions

 

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