Lifetime mortgages: the need for flexibility

That’s especially true for people approaching retirement, when so many outcomes are possible – death of a partner, illness and moving home are all real possibilities. So why should people choose a lifetime mortgage which has no flexibility? Consumer research by Prudential found people expected equity release mortgages to be adaptable to the inevitable changes in their circumstances. These life changes incur varying costs, so consumers are finding that traditional lump-sum equity release schemes are just too inflexible. And too costly. The key feature of a successful lifetime mortgage i...