Tel: 01671 403080 | advice@marrfinancial.co.uk
Costs
What will you have to pay us for this service?
Fee Only OptionA fee of £750 when the mortgage has been agreed and the loan offer issued. We will refund to you any commission we receive from the company that either buys your home or lends you money.
Fee & Commission Option
A fee of £250 on completion of the mortgage. We will also be paid commission from the company that either buys your home or lends you money.
Costs of Equity Release Schemes
Take into consideration that when entering into any type of equity release scheme there will be set up costs and ongoing costs which can include:
- Arrangement Fees payable to the lender
- Legal Fees
- Valuation Fees
- Maintenance costs - you are still responsible for maintenance of the property
- Insurance costs - maintaining adequate buildings insurance
Lifetime Mortgage can quickly erode the remaining equity and as a result there may be no value left to pass on.
'Equity Release' includes Home Reversion Plans and Lifetime Mortgages. To understand the features and risks please ask for a personalised illustration.
