Mewstone Later Life Lending
FRIENDLY, EXPERT EQUITY RELEASE AND LATER LIFE MORTGAGE ADVICE IN PLYMOUTH AND SOUTH HAMS
We are committed to doing the right thing for our customers and will only ever give unbiased, whole rounded advice. Other firms will often consider only one later life lending option for you.. but we are different.
At Mewstone Later Life Lending, we specialise and directly advise on all of the popular later life lending options:
Equity Release Mortgages
Equity Release is the term for borrowing against your home to free up a portion of the wealth held in your property, and it is one of the financial solutions that may be available to homeowners over 55. The money is usually released in the form of a tax-free cash lump sum, but can also be released in stages, know as “drawdown”.
Retirement Interest Only Mortgages
A Retirement Interest Only Mortgage, like a mortgage you may have taken to buy your home, is a loan where only the interest is paid to your lender each month. This style of later life mortgage is open ended, meaning you can remain in your home until you move into long term care, or pass away. At this point, the mortgage would need to be repaid.
Traditional Mortgages
Despite what you might think, there are many lenders who will consider lending to older borrowers. Your employed income or even your future pension could support a traditional style of mortgage and there are specialist lenders who are willing to consider all types of mortgage lending.
MEET OUR LATER LIFE LENDING SPECIALIST
Hi, I’m Mike. I’ve been working in home financing for the past 10 years, with a particular interest in later life lending for the last 5 years. I have a special interest in providing support to customers in my hometown of Plymouth and the surrounding areas but I can help customers nationwide via video or telephone.
Growing up on the Devon and Cornwall border, I’ve always loved camping, especially given how wonderful this part of the world is. When I’m not under canvas you’ll usually catch me following motorsport of all kinds!
Choosing to release money from your home is a big decision and it’s important for you to understand all the options available to you. This means that I will always offer you unbiased advice. It doesn’t matter to me which solution or lender I recommend, as long as it is the right one for you.
We are proud to be a member of the Equity Release Council
The Equity Release Council is a voluntary body that aims to promote high standards of conduct and customer facing safeguards within the equity release industry.
WHY MEWSTONE LATER LIFE?
We aren’t just here to sell you something.
With years of later life lending experience, Mewstone will always put YOU at the forefront. Our Later Life Lending specialists will always consider all of your options and tailor a recommendation around what makes the most financial sense for you.
We are passionate about the best outcomes for all of our clients. Family is at the heart of what we do, and why we do it. Each of our clients are part of the Mewstone family and we will look after you like our own.
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Frequently Asked Questions
Which lenders do you work with?
We are an independent broker, and therefore do not have any affiliation with a particular lender – meaning you will always receive the best deal for your situation from the whole, open market.
Do I need to make payments?
Retirement Interest Only and Traditional Mortgages have a mandatory monthly payment, as well as select Lifetime mortgages. Equity Release Lifetime Mortgages allow an optional payment to reduce the impact of compound interest.
Will I lose my home?
No. With all of the products we provide, you will remain the legal owner of your property for the length of the mortgage.
How long does it take?
Typically lenders will make an offer to you within a month of applying. It can take a further 1-2 months for the legal work to be completed, depending on the complexity of the situation.
What's next?
To begin your later life lending journey, call us on 01752 938993 or complete the form above and we will be in touch with you.
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Mewstone Mortgage Advice LTD (FCA ref 947355) is an appointed representative of New Leaf Distribution LTD (FCA ref 460421) which is authorised and regulated by the financial conduct authority (FCA).
New Leaf Head Office Garfield House, 165-167 High St, Rayleigh SS6 7QA. Co registration Number 5520001.
Mewstone Mortgage Advice LTD Head Office: 22 Barton Brake, Wembury, Plymouth, Devon PL9 0BJ Co registration Number 12959322
Your home is at risk if you fail to keep up payments on your mortgage or any other loans secured against it.
Buy to Let mortgages and Commercial Lending are not usually regulated by the Financial Conduct Authority.
Equity release may involve a lifetime mortgage which is secured against your property or a home reversion plan which requires the sale of property for a discounted price. To understand the features and risks, ask for a personalised illustration. You only continue to own your own home with a lifetime mortgage.
Equity release may impact the size of your estate and it could affect your entitlement to current and future means-tested benefits
