Equity Release - Lifetime is for living

How do lifetime mortgages work? A lifetime mortgage is a way that clients can borrow a set amount of money against the value of their home, in the form of a long-term loan. It allows them to unlock some of the value without having to move. They would continue to own the home for the duration of the plan, which also allows them to draw more money as and when they need it. There are not normally any repayments as the interest is rolled up and not paid until either death or the need for long term care, when the property is then sold (last survivor). What role can lifetime mortgages play ...