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For those aged 55 and above, a lifetime mortgage in Durham can offer a practical way to release equity tied up in your property.
With a lifetime mortgage, you’ll retain full ownership of your home, and they are available on both freehold and leasehold properties.
The funds can be used for anything from making home improvements to enjoying more financial freedom in retirement.
With professional mortgage advisor in Durham, we can guide you through the various plans and lenders available to ensure the best fit for your needs.
Those aged 55 and above in Durham have two main types of lifetime mortgages to choose from. A lump sum lifetime mortgage provides a single payment for larger expenses, while a drawdown lifetime mortgage offers flexibility by allowing smaller withdrawals over time.
As a trusted mortgage broker in Durham, we often suggest lifetime mortgages for purposes such as:
As trusted providers of lifetime mortgage advice in Durham, we frequently assist older borrowers who use these products to purchase a property for reasons such as:
If a lifetime mortgage doesn’t suit your situation, our team will explore alternative mortgage options for the over-50s in Durham to ensure you find the right solution.
Yes, a lifetime mortgage can help those aged 55 and over fund a move to a new property.
This option is ideal for individuals looking to downsize, relocate to Durham to be closer to family, or purchase a home better suited to their lifestyle needs.
Lifetime mortgages allow you to access equity to support your move while keeping ownership of your new property.
A mortgage broker in Durham can provide expert guidance to ensure the plan works for your financial goals.
No, you’re not permanently tied to a lifetime mortgage.
Many plans offer flexibility, such as voluntary repayment options to reduce the overall balance or the ability to switch to a new plan if your circumstances change.
Regular reviews with a mortgage broker in Durham can ensure your lifetime mortgage remains a good fit for your needs.
As well as speaking with your later life mortgage advisor about whether equity release, and subsequently a lifetime mortgage, is right for you, it’s worth taking the time to consider any additional arrangements for the future.
There are several over 50’s life insurance policies available from our team that, if suitable for your circumstances, can help offset the cost of a lifetime mortgage over the life policy term.
We would also recommend discussing your lifetime mortgage plans with your family, updating your will, and setting up arrangements for any lasting powers of attorney.
These steps are important, as it is often your family, either as beneficiaries after your death or as attorneys should your mental capacity become impaired, who will be involved in selling the property to repay the lifetime mortgage.
Proper planning now not only ensures a smoother process for your loved ones later but can also make things more cost-effective in the long run.
Our Customers Love Us
5.00 Rating19 Reviews
Jenni
Malcolm and his team were nothing short if amazing helping guide us through somewhat tricky process of buying our home. They were friendly, patient and efficient and deserve more than a five star rating. Thank you again to Malcolm and his team.
1 month ago
Joanne
Malcom, was professional and helped sercure the best mortagage deal for us. We were apprehensive about using a mortage broker as we had never used this kind of service before, but Malcom and the team made it so easy from start to finish,friendly...
3 months ago
Fiona
Very good service from Dinah. Very helpful and no pressure sales. Felt confident I got the best advice for my circumstances.
5 months ago
Katie
We could not recommend UK money man enough for helping us obtain a mortgage. As first time buyers we went into the process clueless, Malcolm and the team have been absolutely amazing. Their communication and expertise has been second to none. The...
6 months ago
Mr Darren
An amazing service from some amazing people. They where with me from start to finish and the support, guidance and advice they gave me was brilliant. I would happily recomend Durhammoneyman. Thank you to all who where involved in my case.
7 months ago
Anonymous
Great service! Very informative and responsive. Made the process for a first time buyer straight forward and went smoothly
10 months ago
Duncan
Professional all the way. Excellent advice from Wayne followed by excellent administration by Anna to complete the transaction. Would recommend.
1 year ago
Martin
Excellent Staff and Service, I would definitely use them again They were very helpful all through the process of my remortgage providing me with the best deal and assisting with any issues or concerns i had, very prompt on replies to my calls and...
2 years ago
Kayleigh
Joe and Chloe have been so helpful sorting out our remortgage. They did all the hard work. I would highly recommend Durham Money Man to anyone! Fab job guys!
2 years ago
Karen
Was very professional and very helpful.
3 years ago
Anonymous
We are very pleased with the service we received. Everything was very simple and the mortgage brokers done everything for us. The mortgage deal they found was significantly less than any we could find ourselves, so it's worth paying the broker fee...
3 years ago
Niall
Fantastic service! Amazing advice and guidance throughout my mortgage application. Would recommend Durhammoneyman to anyone!
4 years ago
Sarah
Durhammoneyman have been an absolute lifesaver in helping me to get a mortgage. Their support, advice and assistance throughout the process has been above and beyond what I could have expected. Without them I would not have been able to navigate...
4 years ago
Donna
I cannot fault the service I have received from Leo, Wendy and the team. They have made a potentially stressful process very easy, offering support and guidance throughout. I would recommend this team to anyone in need of mortgage advice. Thank...
5 years ago
Sandra
Matt was first of all hugely understanding and quite reassuring in what I knew would prove a difficult task! Under 2 years self employment history, trying to gain a second family home without selling the first and possessing a buy to let which also...
5 years ago
Louis
I had a complex situation and I was nervous about the whole thing. Chris worked his magic and got me a mortgage offer within 2 weeks. I was amazed. Working full time I found the evening appointments terrific.
5 years ago
Michelle
Thank you to Laura and Matt who worked seamlessly to get my remortgage offered. I’m really happy with my new deal, much better rate than what my bank were offering.
5 years ago
Mary
My mortgage broker was easy to get hold of and efficient. Overall my experience was good value for money. As a first time buyer I felt I had support throughout my purchase.
5 years ago
Daniel
We rang these guys when we had been promised a mortgage by our Bank who then changed their minds. To be honest we didn’t know whether or not we’d be able to get a mortgage but during the first call with Durham Moneyman we felt they understood...
5 years ago
We start with a free lifetime mortgage appointment in Durham with one of our experienced advisors. This no-obligation session allows us to understand your financial goals and explore whether a lifetime mortgage is right for you. It’s a chance for you to ask questions, learn about the options available, and receive expert mortgage advice in Durham tailored to your individual needs and future plans.
Equity release may not always be the best option, and our advisors will ensure you consider all alternatives before making a decision. Depending on your situation, options like downsizing, accessing savings, or exploring other financial products could be more suitable. We provide impartial advice to help you choose the most effective solution for your circumstances in Durham.
Deciding on a lifetime mortgage is an important step, and we encourage you to involve your family or other trusted individuals in the process. Open conversations can help ensure that everyone understands the potential implications for the future. Our mortgage advisors in Durham advisors are available to provide clarity and support during these discussions, helping everyone feel confident about the decision.
After fully assessing your needs and exploring all alternatives, we’ll provide a personalised lifetime mortgage recommendation. This includes details about the product, lender, and features that match your financial goals. Our mortgage advisors in Durham will guide you through the process with transparency and care, ensuring you feel secure in your choice every step of the way.
Our mortgage advisors in Durham offer a free mortgage review to help you explore your options and plan for your future. This no-obligation consultation is an opportunity to receive personalised mortgage advice in Durham tailored to your financial goals.
As a trusted mortgage broker in Durham, we work with a variety of lenders to find the perfect mortgage deal for you. Whether you’re considering a lifetime mortgage or another financial product, we’ll ensure the solution matches your circumstances and goals.
We’re committed to delivering exceptional service at every step of your journey. From your first enquiry to the completion of your mortgage process, our mortgage advisors in Durham are here to offer honest, professional support.
Life doesn’t stop for financial planning, which is why our mortgage advisors in Durham are available seven days a week. Whether you need mortgage advice in Durham during the week or on the weekend, we’ll work around your schedule to assist you.
For those aged 55 and over, a lifetime mortgage offers a practical way to supplement retirement income, providing financial stability and the freedom to enjoy later life.
Accessing equity in your property can help cover living costs, manage unexpected expenses, or fund hobbies and leisure activities.
Seeking mortgage advice in Durham ensures you choose a plan tailored to your needs and financial goals.
A lifetime mortgage is often used by those aged 55 and over to support family members financially.
Whether contributing to a house deposit or helping with education expenses, releasing equity allows you to assist loved ones while retaining ownership of your home.
Our mortgage advisors in Durham are here to provide guidance and ensure the option fits your long-term plans.
For those aged 55 and over, a lifetime mortgage can fund essential home improvements or adaptations.
Whether upgrading your kitchen, modernising your bathroom, or making accessibility changes, this option lets you stay in the home you love while enhancing its functionality.
With expert mortgage advice in Durham, you can find the right product to finance your projects effectively.
Read our 19 Reviews
Durhammoneyman.com & Durhammoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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Durhammoneyman.com & Durhammoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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