SMF - Just Installed!

Lifetime mortgages

Started by Sandra, March 21, 2023, 04:39:24 PM

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I'm a newish member, with one small BTL flat on Manchester. Has anyone taken on one of these?

The BTL flat in Manchester isaffected by cladding.  The lifetime mortgage would free up funds to pay off some of the BTL mortgage and the rest would be remortgaged.
It sort of makes sense but of course interest would be phenomenal on a fairly small loan.  Even though I could still live there till I die....feels like throwing money away.

Any thoughts or suggestions?