Nationwide to offer Lifetime mortgages!
Nationwide Building Society has announced they will become the first high street lender to enter into the Equity Release market.
Their products will be available to both new and existing customers ages 55 to 84. The products will be rolled up interest so no monthly repayments will be required during the lifetime of the customer. Interest is added to the sum borrowed at a fixed rate for the term of the mortgage.
The product rates will start at just 3.80% (at time of writing) up to a maximum of 46% of the property value and most products have no valuation or lender fees.
THINGS TO REMEMBER.
Equity release includes Lifetime Mortgages and Home Reversion Schemes.
Equity release may impact the size of your estate and it could affect your entitlement to current and future means-tested benefits
This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration.
Plus Financial Solutions can advise and arrange Lifetime Mortgages only.