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Depending on the type of equity release you choose, the money can be released in a single sum, or in smaller amounts as and when you need it.
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The interest rate on an ARM Loan can increase or decrease throughout the length of your loan, so when your rate adjusts, your payment will change too.
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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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Compare all the latest equity release deals and interest rates from lenders across the whole later life market.
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The first part to getting equity release is to receive financial advice from a qualified equity release adviser.
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The money you release from your home will go to pay off your mortgage first, along with any other debt secured on your property.
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