How making repayments can help your clients manage their total cost of borrowing
In today’s equity release market, the option for your clients to make ad-hoc or regular repayments is one which may help them save thousands over the lifetime of their borrowing.
All lifetime mortgages that meet Equity Release Council standards come with the option to make penalty-free repayments on a monthly or ad-hoc basis.
These repayments, unlike other forms of later life borrowing, aren’t subject to affordability checks. They’re also flexible; with the customer having complete control over when they make their repayments and by how much, subject to their plan’s terms and conditions.