139634
Description
Mind Map by dominic.young, updated more than 1 year ago
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Created by dominic.young
almost 11 years ago
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More 2 Life
- key facts
- cash back offers
- free valuations
- inheritance protection at no extra cost
- auto placed on draw down facility
- auto placed on draw down facility
- does allow partial repayments
- property must be sold within 6mths of end of life
- if married must both be on the deeds
- lends interest must be noted on the building insurance
- can pay partial lump sum but ERC`s may apply
- cash back offers
- ERC`s
- depends on 15 yr gilt rates
- If the long term rate is lower than the benchmark rate printed in the borrower’s offer document we will charge an
ERC.
- If the long term rate is lower than the benchmark rate printed in the borrower’s offer document we will charge an
ERC.
- will not apply if
- long term rate at the time of repayment is the same or higher than the benchmark rate set when the loan was
taken out
- •The lifetime mortgage is repaid because your client is moving home and intends to transfer this lifetime
mortgage to their new property
- long term rate at the time of repayment is the same or higher than the benchmark rate set when the loan was
taken out
- depends on 15 yr gilt rates
- drawdown
- min draw down in £5000
- only company that charges £99 per drawdown
- only company that charges £99 per drawdown
- min draw down in £5000
- only provider that does interest only with a drawdown facility
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