DOWNLOAD YOUR FREE QUICK GUIDE TO LIFETIME MORTGAGES AT OUR WEBSITE LINK AT THE END OF THIS ARTICLE.
THIS GUIDE IS TOTALLY FREE WITHOUT US TAKING ANY OF YOUR PERSONAL DETAILS, CALL US IN YOUR OWN TIME, INSTEAD OF US CALLING YOU !
Real Life Situations by Chris Morgan
Names: John and Marcus, Ages 55 and 62, Approaching Retirement, Existing Self Certified Mortgage (coming to an end)
John and Marcus were worried about their Interest Only mortgage which still was outstanding on their property valued at £900,000. They took out a Self certified mortgage around 15 years ago and were not required to provide a repayment vehicle by the lender. This means they are short of options to repay this amount, as the end of term gets nearer.
We helped them draw £100,000 on a Lifetime Mortgage to clear their £76,000 mortgage, so they could remain in their property and have a cash reserve to use as they choose. The new arrangement did not have any ongoing monthly payments and we didn’t charge them a broker fee for our advice.
Client Quotes:
“It is very important to us both that we are able to remain in the property, without the pressures of moving and changing social aspects of our lives. The former Interest Only Mortgage had become a burden to us, with regular monthly payments that we felt these would become more troublesome as time moved on”.
“We had looked at several advice options, but felt that the adviser fees for advising us were very high, so finding a broker with a fees free proposition was important to us. We were surprised that there was so much difference between different financial advisers. in the amounts they charge?
Lifetime Mortgage Expert Advice …
Lifetime Mortgages are an ideal way to repay an existing Interest Only Mortgage, especially for those that may have interest only mortgages coming to near the end of it’s term, or may wish to release themselves from the regime of monthly payments. The majority of Lifetime products can be arranged without any proof of your income, especially ones where there are zero ongoing monthly payments.
Lifetime Mortgages have to be arranged through a qualified financial adviser, many of which only do in return for an agreed “broker fee”. The reality is that Lifetime Mortgage providers already offer brokers commissions for the business they submit, so effectively this means they are in fact being paid twice for the introduction.
This in theory means you should be able to arrange your Lifetime Mortgage through a financial adviser, without any adviser fees, if you find one that offer “Qualified Advice, Zero Broker Fee” like Lifetime Mortgage Expert, then you know that you are likely to save on average of between £1281 and up to £2395 in broker fees up front.
We think that is a significant mount of money that you could be using on a nice long weekend break away somewhere instead?
If you would like to download our Free Quick Guide To Lifetime Mortgages then visit www.lifetimemortgage.expert Our Lifetime Mortgage Expert Chris Morgan, can also be reached by email at enquiries@lifetimemortgage.expert
Chris Morgan’s full Biography can be read here …
http://lifetime-mortgage.expert/adviser-career-biography-chris-morgan/
Here is also a direct link to the Free Quick Guide …
http://www.lifetimemortgage.expert/assets/Lifetime_Mortgage%20_Expert_Guide.pdf
Please Note:
Lifetime Mortgage Expert is a Trading Style of Unusual Mortgages who are authorised and regulated by the Financial Conduct Authority. Registration number 497173. We do not charge a broker fee for Lifetime Mortgages (without ongoing monthly payments) where the initial lump sum withdrawal is £50,000 or more (this is not including cash reserve) instead we receive a commission from the mortgage lender.
If you wish to draw less than £50,000 we may charge a small fee to ensure a minimum total earning of £995. Please contact us for a specific quotation. In the Lifetime Mortgage Survey 2018, the average broker fee being charged by a financial adviser for arranging a lifetime mortgage was £1281 and the largest fee charged was £2395.