Prudential equity release

Prudential's Lifetime Morgage equity release is available to people between the ages of 55 to 84 years. They offer the most popular type of equity release plan, lifetime mortgage, with two options.

To qualify for a life time mortage with Prudential you:

• Fit the age requirements of 55 - 84 years
• Have little or no mortgage
• Reside in England, Scotland or Wales
• Your home is worth at least £100,000

For more information speak to an Independent Finacial Adviser for a free consultation on equity release.

Prudential provides two lifetime mortgage options:

Lump Sum Option - Subject to eligibility, you can release up to 40% of the value of your home immediately. By opting for a lump sum your can take care of your immediate financial needs and obligations. This option includes an extra 5% which is added by selecting the Maximum Release option.

Increasing Cash Reserve Option - If you want a smaller amount now and possibly release more in the future, the Increasing Cash Reserve option be more suitable. This option provides you with greater flexibility and some addition benefits:

• Flexibility to take smaller amounts provides you with greater control and comfort helping you meet your financial needs in the future
• You can release money whenever and as often as you like, up to your agreed maximum allowance
• Interest only starts to build on the money when you actually release it. By releasing money only when you need it, you will reduce the overall interest payable on your loan
• Your agreed allowance automatically increases every year, up to a maximum allowance normally based on your age

Before deciding on a lifetime mortgage Prudential recommends you consider:

• Possibly moving to a smaller property
• Review your savings and investments to see if they help fund your retirment
• Discussing lifetime morgage and equity release options with family members and friends