Often, these loans require no repayments during your lifetime and the interest is simply added to the balance of the loan.

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It is more likely that you will UK equity release calculator enough money to pay off your existing mortgage if you are over 80 and your property is extremely valuable.

For example, while you might be able to borrow 70% of your home's value with a repayment mortgage, you might get only 60% with an interest-only mortgage.


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