An 'inheritance protection' feature allows clients to protect a percentage of the future value of their home to leave as an inheritance, as long as they don't take the full release amount available.
Equity release lender more2life has a really useful tool which lets you see how this feature works and how it could affect your clients.
With an equity release drawdown plan, clients can take out small amounts whenever they need them from a pre-agreed facility. With some plans the minimum additional release is just £500, providing clients with even more future flexibility.
With some plans, clients can get a fixed income each month set for a period of time (e.g. 10 years) and from as little as £200 per month, providing them with a more financially secure future.
Capital repayments
Clients can pay up to 15% of the initial loan each year (dependent on provider).
Interest payments
Clients can pay the interest on the loan so that it doesn't roll-up. They can switch to a roll up plan if they no longer want to make these payments.
See how repayment options can work for your clients, click on the link below to use the more2life partial repayment calculator.