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It's similar to a lifetime mortgage, but the monthly equity release interest rates martin lewis payments are compulsory, or you can risk foreclosure.
However, if the property needs to be sold to pay back the lender, you won't be able to leave it to your nearest or dearest.
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Going through a divorce, first time trying to get a mortgage myself, I didn't know what I was doing and they took full advantage of that.
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For more information about our equity release companies release plans, download our free equity release guide now. However, lower interest rates have continued to fall.
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