This is like a standard lifetime mortgage.
The interest rate is fixed for the life of the loan.
To that extent, RIO mortgages work in a similar way.
They're similar to interest-only lifetime mortgages.
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Some equity release plans also include cash-back.
The mortgage is repaid when the property is sold.
Age partnership equity release fees are very low.
Check out AgeUK's factsheet on equity release.
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