Working Hours: 9:00am - 6:00pm | Phone: +01509 323660

Your home may be repossessed if you do not keep up repayments on your mortgage.
Equity Release/ Lifetime Mortgages/ Home Reversion will reduce the value of your estate and can affect your eligibility for means tested benefits.

Mortgage Advice Loughborough > Interest Only Lifetime Mortgage Broker | Contact Us

Interest Only Lifetime Mortgage Broker

Get the most out of your retirement by releasing equity on your home. Let our specialist Interest Only Lifetime Mortgage Broker take care of the whole process, from initial consultation to filling out the application and beyond.


Lifetime mortgages

A form of equity release, lifetime interest only mortgages allow you to release cash from your home – tax-free – while continuing to live in it. Open to homeowners from the age of 55, these mortgages are a popular way of funding home improvements or retirement plans. You can choose to take the money in a lump sum or in multiple repayments. You can also spend the money as you wish, which is partly why this type of mortgage is so popular.

To learn more about interest only lifetime mortgages – and how our advisors can help you – contact us today to arrange your free initial consultation.

What is an interest only lifetime mortgage?

With an interest-only mortgage, you pay the interest on the amount you borrowed each month. This means that there won’t be any extra balance to repay when you die or go into long-term care—only the amount first borrowed.

lifetime mortgage

How can our interest only lifetime mortgage broker help you?

As experienced mortgage brokers in Loughborough, we’re here to help you weigh up the pros and cons of interest-only lifetime mortgages. We’ll offer tailored advice to help you decide whether this is a suitable option for you. We can help you find the right deal too.

Choosing any form of equity release is a big decision, which is why many turn to a specialist mortgage broker for advice. We’re regulated by the Financial Conduct Authority, meaning our mission is not to sell you products you don’t want or need, but to help you choose the right one for you.

We can search a wide range of lenders, talk you through your options, and explain the whole process in a straightforward, jargon-free manner.

Request a callback today to schedule your free consultation.

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:


  • 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


  • 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.

Clients’ Testimonials

  • Can’t thank you enough Gary for all of your hard work with the remortgage, I always knew you would pull it out of the bag

  • I would like to take this opportunity to thank you for everything especially the mortgage application process and the time you spent explaining things to me well from day one of the process. My wife and I would like to thanks you once again for your good work..

  • I was extremely happy with the service provided by Gary Fowkes. Thank You very much.

  • Gary is a great mortgage adviser, he is very efficient with his work and showed a great
    understanding with me and my requirements I would highly recommend Gary to friends and family as I believe Gary is great at what he does. I am looking to use Gary’s services once again in the future and believe Gary is a definitely a credit to Derngate Wealth.


Request a call back?

Ready to speak to an expert and learn more about lifetime mortgages? It couldn’t be simpler with Derngate Wealth Management Loughborough. Simply complete the form opposite, and we’ll be in touch with you as soon as possible to arrange your free initial consultation.

We’ve helped hundreds of individuals secure a mortgage. Let us help you fund your retirement plans by releasing equity on your property.

We look forward to hearing from you!

Frequently asked questions

What other types of equity release are there?

The most popular alternative is a home reversion plan; we can talk you through the pros and cons of each to help you decide which is a better fit for you.

Can you end up owing more than your home is worth?

Yes, this is possible, but if you choose a plan with a ‘no negative equity’ guarantee you won’t have to worry about this happening. Our interest only lifetime mortgage broker can ensure that there are no surprises when it comes to repaying the loan.

Do normal interest only mortgages exist?

They do, but they’re very hard to come by today. The vast majority of interest only mortgages are equity release products, only open to those aged 55 or over.

Are there limits to how the cash you release can be spent?

No, you’re free to spend it as you wish – that’s one of the key benefits to this type of equity release.


We do not charge for the initial consultation but there may be an administration fee payable when an application is submitted, this fee is usually £499 and we are also paid commission from the lender.