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With Christmas approaching, our attention is now turned to who to buy Christmas presents for and what to buy.

As family members get older, it gets harder to find a present that you know they will like.

What clothes do they like? What music do they listen to?

It can become very stressful.

The older you get, the less inclined you are to go shopping. You may not like the internet and don’t want to shop online.

You may think that giving a bit of cash or a voucher is a bit of a cop out.

However, there could be an alternative…

If you are a homeowner, over the age of 55 and have adult children or grandchildren still living at home, how about the gift of the deposit, or some of the deposit, towards their first home?

What better present would that be? It will also be one that will be treasured for years to come.

A lot of parents and grandparents these days take out a Lifetime Mortgage to help first time buyers get on the property ladder.

So, how does it work?

A Lifetime mortgage is a form of mortgage that is secured on your property. However, you have choices as to whether you would like to make interest only payments, or ad-hoc payments or, even, no payments at all. So, it is flexible to suit your circumstances.

How much you can borrow depends on your age and how much your property is worth.

Why should I remortgage my house? You may be thinking.

Well, a lot of people are taking out Lifetime mortgages and giving their children and grandchildren their inheritance now, and thus, are seeing them enjoy it. So, why wait until you are no longer with them, for them to be able to get their first home. Let’s face it, with property prices so high, saving for a deposit is very hard. Wouldn’t you rather enjoy seeing them find their home, move in and make it theirs, knowing you helped them?

The average age of a first-time buyer is increasing, and a lot of parents are finding their children are still at home with them in their 30’s. Let’s face it, how many parents really want their adult children living at home with them?

Before considering taking out a Lifetime Mortgage, you need professional, honest advice. So, first, you need to have an informal chat with an adviser from Blackberry Mortgage Services. During the chat, how a lifetime mortgage works will be explained to you along with all the pros and cons. We will also make sure it is definitely the right thing for you. If you decide to go ahead with an application, we will help every step of the way.

So, for an informal chat, please call 01245 806119 or email:

Equity Release may impact the size of your estate and it could affect your entitlement to current and future means-tested benefits.

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