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Warning Text
EQUITY RELEASE (INCLUDING LIFETIME MORTGAGES AND HOME REVERSION PLANS) WILL REDUCE THE VALUE OF YOUR ESTATE AND CAN AFFECT YOUR ELIGIBILITY FOR MEANS TESTED BENEFITS.
A LIFETIME MORTGAGE WILL REDUCE THE VALUE OF YOUR ESTATE AND MAY AFFECT YOUR ENTITLEMENT TO MEANS-TESTED BENEFITS AND TAX STATUS.
THE IMPACT OF NOT SERVICING MONTHLY INTEREST PAYMENTS ON A LIFETIME MORTGAGE IS THAT THE OUTSTANDING DEBT CAN GROW RAPIDLY, THUS REDUCING THE VALUE OF YOUR ESTATE.
FOR EXAMPLE, IF THE INTEREST RATE WAS 7% A YEAR, A £50,000 LOAN WOULD DOUBLE TO £100,000 AFTER 10 YEARS ASSUMING NO REPAYMENTS ARE MADE.
THIS IS AN EXAMPLE FOR ILLUSTRATIVE PURPOSES ONLY AND PERSONALISED ADVICE AND RECOMMENDATIONS SHOULD BE SOUGHT FROM A QUALIFIED PROFESSIONAL. YOU ARE STRONGLY ADVISED TO REGISTER A LASTING POWER OF ATTORNEY. THIS WILL ALLOW YOUR AFFAIRS TO BE MANAGED BY SOMEBODY ELSE IF YOUR MENTAL ABILITIES SIGNIFICANTLY DECLINE.
EQUITY RELEASE SERVICES ARE REFERRED TO A THIRD PARTY. NEITHER SYNCHRO MORTGAGE SOLUTIONS LTD NOR PRIMIS ARE RESPONSIBLE FOR THE SERVICE RECEIVED. THESE SERVICES ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY AND MAY HAVE LIMITED CONSUMER PROTECTION.
