Can you Release Equity If You Already Have a Mortgage? One of the most common misconceptions about lifetime mortgages is that you can’t release equity if you still have a mortgage on your home. This simply isn’t true. In fact, many homeowners take out a lifetime...
Negative Equity and Lifetime Mortgages If you’re considering a lifetime mortgage, you’ve probably heard this one before: “It’s risky. You’ll end up owing more than your house is worth.” It’s a common concern—and understandably so. Nobody wants to leave their loved...
Common Myths About Lifetime Mortgages Lifetime mortgages are an increasingly popular way for homeowners over 55 to access the wealth tied up in their homes without needing to move. However, despite their benefits, common myths about lifetime mortgages often cause...
What is a Retirement Interest Only Mortgage? Retirement interest-only mortgages (RIOs) offer a flexible financial solution for people looking to take our a mortgage in retirement. They often serve as an alternative to lifetime mortgages, commonly referred to as equity...
Lifetime Mortgages With people living longer in retirement, Lifetime Mortgages can play an important role in financial planning. As well as supplementing income, they can also be useful in providing early inheritance for families and funding the so-called ‘Bank of Mum...
What is Business Protection? According to the latest State of the Nation Report from Legal and General, a major challenge with Business Protection is that many people don’t really understand it. For example, many have heard of ‘Key Person Cover’, but don’t really know...
What Income Is Used with One Year’s Accounts? If you’re self-employed and only have one year’s accounts, it’s natural to wonder what income lenders will use to assess your mortgage affordability. The good news is that it may be possible to secure a mortgage—even with...
10 Myths About Business Protection Insurance Business protection is one of those things many clients know they should do something about… but often put off. Sometimes it’s because they don’t know where to start. Other times it’s because they’re relying on some...
Can Employer Pension Contributions Affect Mortgage Affordability? As a business owner, managing tax efficiency is a key part of financial planning. Whether it's using company profits instead of dividends to secure a mortgage or making employer pension contributions,...
Can I get a mortgage with one year's accounts? Self-Employed people, (including those who own more than 20% shares in a Limited Company) often worry that they will find it more difficult to get a mortgage. This is especially the case when looking to get a mortgage...
Company Director Mortgage using Profit vs Dividends For prudent Company Directors, being as tax efficient as possible is usually a priority. It's common for Company Owners to take a small salary and dividend as income and leave excess profit in the business. However,...
Most working people would consider themselves professional. However, when it comes to mortgages, the term 'Professional' has a different meaning. So, what is a professional mortgage and how does it work? What is a Professional Mortgage? A "professional mortgage" isn't...
Monthly Payments with Lifetime Mortgages A common myth is that you have to make monthly payments with lifetime mortgages —or let the interest roll up forever. This simply isn't true. In fact, one of the key benefits of modern Lifetime Mortgages is their flexibility....
Do You Lose Ownership of Your Home with a Lifetime Mortgage? For many homeowners considering 'equity release', one of the biggest concerns is the belief that taking out a lifetime mortgage means losing ownership of their home. This misconception often leads to...
Introduction – Day Rate Contractor Mortgages Securing a mortgage as a day rate contractor can present unique challenges compared to traditional employees. While there’s no specific ‘contractor mortgage,’ some lenders have criteria that is better for contractors who...
What is the maximum age for a mortgage? Technically speaking, there is no maximum age for a mortgage. However this is driven by each lender’s criteria. Most lenders have a maximum age for standard mortgages. Generally speaking, high street lenders have a maximum age...
Case Study - Company Director Mortgage for a Dentist Arranging a Limited Company Director mortgage for a Dentist can be a challenge. Company Owners who need a mortgage often approach us after being unsuccessful elsewhere. For example, Anil and his wife jointly owned a...
An Introduction to Limited Company Director Mortgages Arranging a Limited Company Director mortgage can be a challenge. When company owners try to balance taking the income they need with being as tax efficient as possible, this can create restrictions when applying...
