Deposit Boost = a general term for taking money from a property using a loan. There are a number of different ways to arrange the deposit boost depending on your circumstances and what suits you best. These can include repayment mortgages, retirement interest only mortgages or interest only mortgages. Tembo is able to advise you on all of these and recommend which would be best suited to you.
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Equity Release = equity release does not require an affordability assessment. This means that whilst there may be an option on certain products to repay interest each month, there is no requirement to. This could result in interest rolling up on equity release products over time, therefore increasing the amount that is owed.
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Interest rates are often higher on lifetime mortgage products as they are fixed for life.