PAYING OFF YOUR MORTGAGE
What is your biggest asset?
For most of us it is our home, but we are still in the process of paying off our biggest debt, the conventional mortgage, even though we have had it for the majority of our working lives. People look to reduce or stop their monthly mortgage payments for many different reasons.
Do any of these resonate with you?
The existing conventional mortgage is coming to an end and cannot be extended
Too costly to maintain
Will not allow further borrowing
Has a repayment (endowment) shortfall
OR you just cannot get a conventional mortgage due to bad credit
Previous clients of Viva Retirement Solutions have consolidated their conventional mortgages with a Lifetime Mortgage to allow them to live more comfortably on a daily basis. They have also made this choice so that they do not need to worry about being eligible to get new mortgages and what future interest rate rises might mean to interest payments. That is right, once you have your money, the interest rate is fixed for life and can never increase on that initial release. If you would like to find out more about how you can pay off your existing mortgage using a Lifetime Mortgage please contact us today.
Contact us today on 0800 046 9776 for a no obligation chat to discuss your circumstances and to find out if you are eligible. (The youngest homeowner must be over 55 to qualify).