I am also concerned about what will happen if their new property is valued at less than their current homeQ My parents took out an equity release lifetime mortgage in 2005. I believe the sum was £30,000. They are now looking to downsize and move nearer to where I live. I am awaiting an up-to-date statement of their balance but believe it will be in the region of £90,000. Their current accommodation is worth around £240,000, having only increased by some £40,000 during that period. Continue reading…
Source : theguardian.com
Read more…My parents want to downsize, but can they move their lifetime mortgage?















