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Whether you choose a lifetime mortgage or a home reversion plan, you can receive the money how does equity release work in uk a single lump sum or over several instalments.
Then they must estimate the value of the property (this does not have to be completely accurate), and the balance remaining on the 1st mortgage.
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He details how home reversion plans and lifetime mortgages work and that the loan plus interest is only repaid once you die and your property is sold.
My web site - UK Equity Release Calculator
Yet equity loan definition economics release products aren't without their drawbacks and shouldn't be taken on without serious consideration and sound financial advice.
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