Interest Only Lifetime Mortgage Broker

Why choose us?

Derngate Wealth Management Loughborough is operated by Gary Fowkes, an experienced mortgage broker with a wealth of industry knowledge. Here are just a few stand-out reasons to choose us…

• Over a decade of experience serving individuals and businesses as a mortgage broker
• A wealth of knowledge on all forms of equity release
• Friendly, personalised, tailored advice – there’s no ‘one size fits all’ here
• We can oversee the entire process, from offering initial advice through to setting up your mortgage and
• helping you complete the application
• We can offer a lifetime of support and help you navigate life’s changes
• Our customers love us! Take a look at our testimonials below

The pros and cons of a lifetime interest only mortgage

Before you speak to us, you might want to learn a little more about the pros and cons of lifetime interest only mortgages. Here are a few you should consider:

Pros

• You can release tax-free cash from your home to spend however you want to!
• You won’t have to repay anything until you die or go into care.
• You’ll have the option of making repayments if you wish.
• You won’t have to leave your home, but you can still relocate

Cons

• Although some of today’s products have a ‘no negative equity’ guarantee, these mortgages tend to have high interest rates, and there will likely be a lot to repay when you die or move into care.
• This will reduce how much you’re able to leave your loved ones as inheritance.
• Means-tested benefits can be impacted.
• You may not be able to repay your mortgage early without incurring an early repayment charge.