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Currently, the average rate charged on a Rio deal - accounting for both fixed and variable what are interest rates for equity release - is 3.59 per cent.
The money was lent at why equity release is a bad idea very low-interest rate close to 2% and competitive with normal mortgages you would get by proving income.
With a RIO mortgage you'll need to make monthly interest payments, which means interest doesn't compound or ‘roll up'.
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This is called a "reverse" mortgage, because in contrast to a traditional mortgage, the lender makes the payments to the borrower.
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Age Partnership Group offer advice relating to equity release, lifetime mortgages explained and wealth management (pensions and investments).
Pages: 1