Can You Pay Off a Lifetime Mortgage Early?

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In this video our head of later life lending discusses the possibility of paying off a lifetime mortgage early - if you take out a lifetime mortgage, a type of equity release, you can pay back some or all of it early. But lifetime mortgages are usually long-term products, so that's usually not the best option. You'll probably have to pay an early repayment charge (ERC), which can be very high.

Equity release certainly isn’t for everyone and that is why it is always crucial to speak with a company like UK Moneyman that offer a truly holistic over 50s lending approach.

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All views are purely that of Dan Osman & do not constitute professional mortgage advice. Moneyman TV provides video coverage of the Mortgage Industry with the purpose of informing the consumer. Topics covered refer to popular mortgage situations presented by real customers on a regular basis, including First-Time Buyers, Remortgages, Home Movers and more.

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