Lifeline or life sentence? How equity-release lifetime loans work

Death triggers the loan repayment which can be a multiple of what was borrowed

What’s important to consider is the valuation Seniors Money puts on your your home. Photograph: iStock

What’s important to consider is the valuation Seniors Money puts on your your home. Photograph: iStock

They may have been absent from the market for some time, but lifetime loans – a form of equity release – are back, offering older homeowners the opportunity of releasing part of the value of their homes without having to repay the loan until they die or sell the property.

Having stopped lending in 2012 in the wake of the last financial crisis, Seniors Money is ramping up a return to the market. It is the only player at present and is hoping, it says, to benefit from significant “pent up” demand.

The Irish Times
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