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Let's look at a sample extract from an equity release report for a 75-year-old homeowner in England, with a £126,000 freehold house.
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To take out a retirement interest only mortgage, it's worthwhile getting expert advice from a qualified mortgage adviser.
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In 2018, the Financial Conduct Authority (FCA) altered its rules surrounding retirement interest-only mortgages.
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Last year, households in the 55-to-64-year-old age range had an average of £106,100 left to pay on their mortgages.
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