New Posts For Thread: Lifetime Mortgageshttps://community.betfair.com/tradefair__financials/go/thread/view/94198/26689557/lifetime-mortgagesGood idea ?Bad idea ?Wrong forum muppet ?depending on your circumstances there may be a more creative way eg. you sell the property at market value to your kids and pay them rent from the cash or investments to cover their mortgage.https://community.betfair.com/tradefair__financials/go/thread/view/94198/26689557/lifetime-mortgages?post_id=483125001#483125001depending on your circumstances there may be a more creative way eg. you sell the property at market value to your kids and pay them rent from the cash or investments to cover their mortgage.Thu, 27 Jan 2011 22:57:12 -0600basicsMany thanks for your replyPresumably my guess of 45k is about right which is not great but as you say the price will hopefully go up at some point so it repairs the 'damage' to some extent in the long term.Having said that the house prices in thttps://community.betfair.com/tradefair__financials/go/thread/view/94198/26689557/lifetime-mortgages?post_id=483046157#483046157basicsMany thanks for your replyPresumably my guess of 45k is about right which is not great but as you say the price will hopefully go up at some point so it repairs the 'damage' to some extent in the long term.Having said that the house prices in tThu, 27 Jan 2011 08:02:58 -0600Toby, I 'specialise ' in this area. They are not for everyone but sometimes a need for others. My suggestion is talk to the family (if you wish) and tell them your potentail intentions. You will be restricted on what you may borrow dependent upon aghttps://community.betfair.com/tradefair__financials/go/thread/view/94198/26689557/lifetime-mortgages?post_id=482929997#482929997Toby, I 'specialise ' in this area. They are not for everyone but sometimes a need for others. My suggestion is talk to the family (if you wish) and tell them your potentail intentions. You will be restricted on what you may borrow dependent upon agWed, 26 Jan 2011 09:42:57 -0600Thank you Banwana.So your not a fan clearly.The actual amount I would be looking for would be 15k and being the 'right' side of 60 would optimistically think I might live possibly another 20 years max.On your figures it would seem that they would behttps://community.betfair.com/tradefair__financials/go/thread/view/94198/26689557/lifetime-mortgages?post_id=482843713#482843713Thank you Banwana.So your not a fan clearly.The actual amount I would be looking for would be 15k and being the 'right' side of 60 would optimistically think I might live possibly another 20 years max.On your figures it would seem that they would beTue, 25 Jan 2011 14:52:21 -0600sold to *Sir Toby Greens beneficiaries :) good job I didn't use a surname therehttps://community.betfair.com/tradefair__financials/go/thread/view/94198/26689557/lifetime-mortgages?post_id=482824957#482824957sold to *Sir Toby Greens beneficiaries :) good job I didn't use a surname thereTue, 25 Jan 2011 12:03:20 -0600Example of a Lifetime MortgageSir Toby Green takes out a Lifetime mortgage for £45,000 with a fixed interest rate of say, 7% Sir Toby Green passes away (sadly) 10 years later and his property is sold The lender gets back his original loan value, £4https://community.betfair.com/tradefair__financials/go/thread/view/94198/26689557/lifetime-mortgages?post_id=482824793#482824793Example of a Lifetime MortgageSir Toby Green takes out a Lifetime mortgage for £45,000 with a fixed interest rate of say, 7% Sir Toby Green passes away (sadly) 10 years later and his property is sold The lender gets back his original loan value, £4Tue, 25 Jan 2011 12:01:57 -0600Good idea ?Bad idea ?Wrong forum muppet ?https://community.betfair.com/tradefair__financials/go/thread/view/94198/26689557/lifetime-mortgages?post_id=482809525#482809525Good idea ?Bad idea ?Wrong forum muppet ?Tue, 25 Jan 2011 09:27:49 -0600