A Lifetime Loan is a mortgage loan secured against your home.
You do not sell a share of your home. You borrow a cash sum using your house as security. You can use this money as you wish.This type of mortgage is designed to last for the rest of your life. This is a loan secured against your home.
Key features of the loan:
- You retain full ownership of your home and continue living in it for as long as you wish
- Regular repayments are not required, but are optional
- Interest is added to the loan balance monthly
- The loan grows over time if he customer chooses not to service the interest payments
- No Negative Equity Guaranteed
For more information:
First Choice Financial Services DAC can determine your suitability (or otherwise) for this product.