Equity-Release Mortgage – Lifetime mortgage
equity release mortgage is a technique of holding back the value of your house to get monthly payments or installments. This type of security interest is suitable for the senior citizens. Lifetime mortgage is a type of equity release mortgages in which loan protected from the borrower’s home is made to give income further this amount is paid after the borrower dies. Until the borrower is alive he holds the title, responsibilities and cost ownership to the house. After the borrower dies his ownership over the house gets transferred. Equity release lifetime mortgage is suitable for the people who are 60 or more than 60 years of age.