Lifetime mortgages

If you’re aged between 55 and 85 the answer to your needs could be locked up in your home.

Equity Release allows you to unlock the equity in your home in a safe, regulated way without having to sell or move.

A Miller Financial works with leading market providers to offer independent advice on Lifetime Mortgages and Home Reversion Plans. You can either take a tax-free lump sum or drawdown cash as and when you need the money.

You get the money you need, you still own the home (if you opt for a Lifetime Mortgage) and you continue to benefit from its increasing value.

Before you begin this process we recommend that you speak to your family.If you want to explore Equity Release further, then we believe your family should be involved.

What are the products available?

A lifetime mortgage is where you retain ownership of the property. The loan is repaid at the end of the term, together with any interest that has rolled up if you decide not to service the interest payments.

A home reversion plan is where the lender buys up to 100% of your home and rents it back to you for a nominal fee e.g. £1 per month. However, you lose ownership of up to 100% the property and may have zero equity left.