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However, you can generally trust lump sum lifetime mortgages and drawdown lifetime mortgages for low interest rates.
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Calculating your equity Release or mortgage release payments is as simple as dividing the total amount you borrow by the number of months left on the term.
A feature of lifetime mortgages which allows you to repay upto 10%-15% of the initial amount borrowed per annum.
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There are different costs, from various parties you should be aware of when looking into taking out an equity release plan.
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Some mortgages will be based on ‘static' or ‘fixed' rates, whilst others are variable and subject to inflation.
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On top of this, some people have saved money in a private pension to prepare for Retirement interest-only mortgage. There's no single interest rate for equity release products.
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