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They allow you to borrow against your property and only pay back the interest (and not the how much home equity loan can i get calculator itself) each month.
For instance, your application will be rejected if you're 50 years old looking for a 25-year halifax lifetime mortgage calculator and the lender has an upper age limit of 70.
Taking out equity loan definition personal finance release is a much simpler way of borrowing money than by using a traditional, 'residential' mortgage.
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