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The costs of a retirement interest-only mortgage are very similar to a traditional mortgage and range from anywhere between £1,000 and £3,000.
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If you divide 100,000 by 200,000, you get 0.50, which means you have a 50% loan-to-value ratio and 50% equity.
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Concise Finance offers information about equity release loan products for people under 55 and over 55 years old.
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Products which have features like inheritance protection or a reserve facility could mean you wind up paying a premium with a higher interest rate.
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