Your options for equity release without compound interest
When you take out a lifetime mortgage, compound interest will mean that the amount owed builds up considerably over the years. But it doesn’t have to be like that, as there are ways to reduce or even remove altogether the amount of interest that must be paid back when the plan ends.
You may have heard about compound interest and the way it can add to the long-term cost of equity release. It’s certainly something to be aware of and to factor into a decision about taking out a plan. However, there are options for avoiding this ‘rolled-up’ interest to maximise how much value is left in your home for you or your family in the years ahead.
Our guide to doing equity release without compound interest looks at:
- What is equity release?
- How does compound interest work on equity release?
- Is it possible to do equity release without compound interest?
- Are there options for reducing the amount of compound interest?
- Get your personalised equity release quote.
We hope this article will help you understand your options for equity release without compound interest. In addition, our selected advisers are available to provide advice, and quotes and illustrations at competitive interest rates from leading UK providers.
Just call us on 0800 096 2215 or request a call back and we’ll arrange a no-obligation appointment with an adviser for you. Alternatively, check your eligibility and get an initial indication of how much tax-free cash you could unlock.