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| Equity Release ( Lifetime Mortgages ) | ||
| If your property is
worth more than 150,000€ OR you are more than 60 years
of age living in a property with little or no mortgage then this policy
can help you enjoy the rest of your life by releasing the value in your
property to you in cash. The money advanced to you does not have to be repaid during your lifetime and you can use the money for whatever purpose you wish - that World cruise you always dreamed off! The only stipulation is that if there is a small mortgage on the property then part of the funds released must be used to clear this. Lending Criteria : * Property is valued at more than 150,000€ OR Owner(s) is(are) over 60 years of age * You must be a resident of an EEC country ( but excludes Spanish Nationals ) * Funds released will be 22% of the property valuation if 60 years old and this increases 1% for each year above that. So if you are 65, 26%. If you are 70yrs old, 32%. If you are 85yrs old, 47%. Benefits : * Spend the money on whatever you wish - a new car, a World cruise, to see the grandchildren etc. * Loan does not need to be repaid * Funds released could be invested and thereby earn an monthly income and supplement your pension * No Negative Equity Guarantee - If on your demise your house is eventually sold for less than the amount outstanding on your mortgage, you and your beneficiaries will not be required to pay the difference, so you have complete peace of mind that no extra debts will be incurred. For more information - contact us now. |
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