Flexi Choice Super Lite
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: 6.14%: 6.44%:: Free Valuation | Free Application | 10%pa Partial Repayments Option | Fixed Early Repayment Charges | Downsizing Repayment Charge Exemption | Fees-Free Option*
Eligibility
- Homeowner with a minimum property valuation of £100,000
- Maximum property valuation permitted is £2 million in England, £1m in Scotland and Wales
- Property located in England, Wales, Scotland
- For flats & maisonettes, 85% of property value will be used
- Minimum age of youngest homeowner is 55, maximum age of 84
- Minimum loan of £10,000, maximum £1,000.000 (ask for details)
- Product only available via 6 UK brokers of which Equity Release Partners is one
Features
- Competitively priced interest rate lifetime mortgage plan
- Flexible drawdown scheme – ability to have access to a future cash reserve
- No repayments are necessary, although can be made if required
- Ability to make voluntary partial repayments of upto 10%pa with NO penalty
- Fixed lifetime mortgage interest rate
- No negative equity guarantee – can never leave a debt for your beneficiaries
- Fixed early repayment charges over 15 years; Years 1-5: 6%, Years 6-10: 3%, Years 11-15: 1%, No penalty exists thereafter
Options
- Free valuation option
- Option of repaying interest only/capital element annually requiring NO proof of income