Later Life Lending
As part of the CARA family, Cara Finance Group trading as Mortgage Advice Bureau Later Life are now able to support homeowners over the age of 55 unlock some of the value in your home. We’re here to help you decide if equity release could improve your retirement finances. After years of working hard to make monthly repayments, your home is likely to be your biggest asset, particularly if you have benefited from an increase in house prices over the last few decades. The value of your home, minus any outstanding mortgage and any other loans secured against it, is referred to as equity.
Equity is often passed on as inheritance, however an increasing number of people are tapping into some of this wealth to help boost their retirement finances. It's not suitable for everyone, which is why it's important to get advice with one of our expert equity release advisers before you make a decision, whether that’s taking advantage of some of your property’s value through equity release or not. Mortgage Advice Bureau Later Life offer lifetime mortgage products, the most popular type of equity release, from a carefully selected panel of providers.
We will explain the ins and outs of equity release and answer any questions you have, so you can feel conﬁdent that any decision you make is the right one for you and your circumstances. We are here to make sure you have all the facts and understand your options before you decide to go ahead.
Mortgage Advice Bureau Later Life offer lifetime mortgage products from a carefully selected panel of providers.
Get the facts about equity release from our frequently asked questions. Need more advice? Get in touch with one of our Mortgage Advice Bureau Later Life advisers today.
For more about what we do visit our Facebook Page. You can also get in touch with us there.
If you find that Equity Release with Mortgage Advice Bureau Later Life is not right for you, our experienced CARA Mortgage Advisers can discuss a few more mortgage options for you such as:
Retirement interest only mortgages
A retirement interest only mortgage (RIO) allows you to pay off the interest on the amount borrowed, without reducing the original amount (capital) you have borrowed. The loan is typically repaid when the plan comes to an end, usually when you (or the last remaining applicant) either sell the property, pass away or move into long term residential care. RIOs are typically available to people over the age of 55 who have retired.
Later life residential mortgages
Later life residential mortgages can be used to buy a new property, remortgage an existing one, or release additional funds. It can be on a capital repayment or interest only basis.
A mortgage is a loan secured against your home and your home may be repossessed if you do not keep up repayments on your mortgage.
"I am delighted to be part of the CARA Group as a Director at CARA Finance Group, trading as Mortgage Advice Bureau Later Life. If you are a homeowner aged 55 or over we can help you decide if equity release could improve your retirement finances. We’ll explain the ins and outs of equity release and answer any questions you have, so you can feel confident that any decision you make is the right one for you and your circumstances. We’re here to make sure you have all the facts and understand your options before you decide to go ahead. With almost 30 years experience in Financial services and specialising in Later Life Lending for the last 8 years, and I am extremely experienced in dealing with a wide variety of scenarios from debt consolidation to gifting and providing my clients with a more comfortable retirement. If you would like to know more, please get in touch."