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Over the 15 years of their RIO mortgage, the couple have made monthly interest repayments of £208.33 and paid a total of £37,500 in interest.
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The Equity Release Council, which is the industry trade body, insists that all lifetime mortgage calculator money saving expert mortgages include a '˜no negative equity guarantee'.
Equity loan calculator uk release mortgages allow homeowners over 55 to access and release the cash that's tied up in their property.
Your lifetime mortgage lending llc mortgage is designed to be repaid when you (and the second borrower, if you have a joint lifetime mortgage) die or need long-term care.
If you're married and apply as a couple, lenders use the age of the youngest partner to work out how much equity you can release.
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