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Common reasons for choosing a Lifetime does equity release increase mortgage might be to cover the cost of home improvements, supplement a pension, or to cover ongoing care costs.
For example, if you have £50,000 equity in a £200,000 property, your mortgage would be for £150,000, (75% of its value).
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The lifetime mortgage calculator Calculator helps estimate the monthly payment due along with other financial costs associated with mortgages.
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