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Is there somewhere you’ve always dreamed of going? When you were younger, did you ever plan the holiday of a lifetime for your family – only for life itself to get in the way of valuable leisure time together?
Whether it’s overseas, on a cruise, on a trip to see family or relatives overseas or on a whim – the once in a lifetime holiday you’ve always hoped to take could be one of the things that you decide to pay for with the money you release from your home with a lifetime mortgage.
As a one-off event, you need to consider this carefully; the loan you’ll be taking out will last a lifetime and will create a debt on your home. But because there may be specific reasons why you want to do this now (perhaps due to health reasons, or simply getting the family together while it’s still physically possible), a specialist lifetime mortgage adviser will do everything they can to help you realise that dream.
It’s important to know that we charge interest on the total loan amount plus any interest already charged. The amount you owe grows quickly and reduces the equity left in the property.
Your financial adviser will get you to check your plans carefully: it’s important to use other savings or investments first before considering a lifetime mortgage as a way to finance a holiday. And there may be ways to borrow money that are more cost-effective. However, if you’re confident that you’ve exhausted all the alternatives, and you’d still like to explore a lifetime mortgage as being a practical option for your situation, your adviser will be happy to help.
Legal & General Home Finance is a wholly owned subsidiary of Legal & General Group plc. Registered in England and Wales number 04896447. Registered office: One Coleman Street, London EC2R 5AA.
Legal & General Home Finance Limited is authorised and regulated by the Financial Conduct Authority.
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