Head Office 01206 577 266 | Head Office Fax 08717 334 367 | Email us office@hdconsultants.net 
Up to now we’ve covered the confusion of the Equity Release name (Later Life Lending or LLL), what the money can be used for, how the mortgage works, ways to limit the amount owed, whether you can move house and if a Lifetime mortgage can be repaid early. 
 
This time we will cover the subject of buying a new home with a Lifetime Mortgage. 
So, you’ve decided that you wish to move house but either cannot meet the lenders affordability criteria for a traditional mortgage or wish to retain some money from the sale of the current house for other personal uses and are wondering how you can afford to move. 
 
The reasons for a new home can be endless, perhaps wishing to retire in the countryside, near the coast , wanting to be nearer family members or maybe the need to have accommodation that is all on one level (i.e. Bungalow). 
 
As long as the new property isn’t some form of retirement home or sheltered accommodation, there should be a lender out there who will consider an application. The reason for this is because they have a restricted market when the time comes for the property to be sold and the Mortgage repaid. 
 
Again, as in previous blog posts , what you can borrow will depend on the age of the youngest applicant and the value of the property. 
 
There may be further restrictions of the amount you can borrow if the property is a flat, but a qualified advisor can help you navigate the market 
 
If any of this is of interest to you and you’d like a no obligation informal conversation with a qualified advisor, please get in touch on 07788 219647 or email john.stallan@hdconsultants.net 
 
Feel free to share the post or tell someone who may benefit from this information 
 
Next time, we’ll look at some scenarios where we’ve helped people. 
Tagged as: Equity Release, Moving
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H D Consultants. Meetings and appointments are held at Hawkins Rd offices (details here) 
 
Head Office address; 109 Maldon Road, Colchester, Essex CO3 3AX (Administration Centre only) 
 
Your home may be repossessed if you do not keep up repayments on your mortgage. 
 
We normally charge a Professional Client Fee for mortgage advice. The amount will depend on your circumstances. A typical fee would be £500. The actual Professional Fee may be more or less than this, and is subject to a full Fact Find discussion and research process. H D Consultants is an Appointed Representative of PRIMIS Mortgage Network. PRIMIS Mortgage Network is a trading style of Personal Touch Financial Services Ltd which is authorised and regulated by the Financial Conduct Authority. Registered Office: Preston House, 163 High Street, Crowthorne, Berkshire, RG45 7AF. Registered in England & Wales. Company Registration Number 4952586. This site is for UK Consumers only. Website Terms and Conditions click here for our Privacy Policy. GDPR Privacy Policy - click here (PDF download / view) This site contains third party links. By clicking these links you will depart from the H D Consultants' regulated site. H D Consultants accepts no responsibility for the content of these sites.. The Financial Conduct Authority does not regulate some of the services listed. H D Consultants, mortgage and life insurance advisers, is authorised by the FCA no 403701. Our in house Wills and Trusts Practice is a long standing Member of the Society of Will Writers and Estate Planning Practitioners.  
FP Ref: 1425988 / 28.01.2021 
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