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equity release mortgages release schemes enable you to unlock money tied up in your home. Lifetime mortgage interest rates are higher than that of a traditional mortgage.
These higher interest rates mean higher monthly payments for borrowers. A few providers offer variable interest rates.
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Lifetime mortgage products are debts secured against your home and can have quite strict eligibility criteria.
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The homeowners are then given how much do you pay back on a lifetime mortgage lifetime tenancy that enables them to live rent-free in the property for the rest of their lives.
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