Lifetime Mortgages.

Lifetime mortgages Rayleigh

Your Local
Mortgage Expert.

We are your friendly experts specialising in Lifetime mortgages, based in Rayleigh, Essex.

With over two decades of dedicated experience in the property and mortgage sector, Lee Berry has amassed a wealth of expertise. Throughout his extensive career, he has aided numerous clients in securing the ideal mortgage tailored to their unique needs and aspirations. What distinguishes Lee is his dedication to providing a personalised and hands-on approach to his services. This means clients can anticipate a level of care and attention that surpasses the ordinary, as Lee strives to ensure that each individual’s financial goals and homeownership dreams are not just met, but exceeded. His thorough industry knowledge and commitment to understanding his clients’ specific requirements make him a trusted advisor in the realm of property financing. Whether you are a first-time homebuyer or a seasoned property investor, Lee Berry’s seasoned expertise and personalised service will lead you towards a successful mortgage experience.

Equity Release

What is a lifetime mortgage?

A lifetime mortgage stands as one of the most favoured methods of equity release, allowing you to retain full ownership of your home while accessing a lump sum of tax-free cash based on the property’s value.

No monthly repayments are necessary, as the entire amount, including interest, is settled upon your passing, transition into long-term care, or permanent departure from the property.

A lifetime mortgage is secured against your property. For a comprehensive understanding of its features and associated risks, request a personalised illustration.

Equity release necessitates the settlement of any existing mortgage. Upon death or relocation to long-term care, any funds released, alongside accrued interest, would be repaid.

The benefits of a lifetime mortgage.

Plans are available from the age of 55

Tax-free release and can be used to achieve goals

No monthly repayments with a lifetime mortgage

The ‘no-negative-equity’ guarantee ensures that you never pass on debt to your estate

Lifetime mortgage plans allow you to protect a percentage of your property’s value. This allows your family to inherit a part of the property value

No more monthly repayments on your mortgage as this is paid off when you are no longer in the property.

The size of your lifetime mortgage will increase over time. This is due to interest being applied to your original loan amount and continuing to roll up as future interest in accrued.

Should you want to increase your amount of equity released beyond the original amount agreed, you would usually have to apply for a further advance, which would not be guaranteed.

Your tax position and eligibility of which means-tested benefits could be affected going forward and could impact on your options for moving or selling your home in the future

The amount that you will leave as an inheritance will be reduced.

You can pay off your equity release plan early, however you may have to pay an early repayment charge. These differ depending on the plan.

20 Years Experience

Local Essex Expert


Friendly & Reliable

Why People Use Us.

“Lee was instrumental in helping us get our last mortgage. We weren’t sure if we could even get a mortgage as we had a few problems in the past however Lee knew exactly which lender to go to and got the deal through. I cannot recommend Lee highly enough”

Karen S.

“Highly recommended. Lee helped us get a mortgage when we thought we had exhausted all options elsewhere. After being declined several times by other lenders, Lee was able to help us get the mortgage we wanted straight away and with minimal fuss.”

Vanessa W.

Over 20 years of experience in the mortgage and property industry.

Lee Berry has vast amount of experience working within the house buying and selling process. Selling and buying a property can be one of the most stressful things you will ever do. Having an expert on hand will help you through the tricky process and help you to avoid the pitfalls on the way.


Based in Rayleigh, Essex, can offer home visits, evening and weekend appointments if required to clients in the South Essex areas.

For clients outside the Essex area, telephone appointments are available.

Our Service

A service designed for people that want a personal and on-hand service. Available at all times to find the best mortgage deal available but also to help throughout the whole process, whether it be a remortgage, buy to let or home moving process.

Frequently Asked Questions about Lifetime Mortgages

What is a lifetime mortgage?

A lifetime mortgage is an equity release scheme enabling homeowners aged 55 or above to borrow against their home’s value. The loan, along with accrued interest, is settled upon the homeowner’s sale of the property or their passing.




How does a lifetime mortgage work?

Through a lifetime mortgage, you have the option to borrow a lump sum or receive periodic payments while still owning your home. Interest accumulates on the borrowed amount, yet you are not required to make monthly repayments. The loan, along with its accrued interest, is settled upon the sale of your property.




How much can I borrow with a lifetime mortgage?

The borrowing amount is determined by various factors, such as your age, property value, and the particular terms of the lifetime mortgage product. Typically, the older you are and the greater the value of your property, the higher the borrowing potential.

Can I move house if I have a lifetime mortgage?

Certain lifetime mortgage products offer portability, enabling you to relocate to a new property provided it meets the lender’s requirements. Nonetheless, this process can be intricate and might necessitate additional borrowing or repayment if the new property holds a higher value.

Can I pay off a lifetime mortgage early?

Certain lifetime mortgage products offer the option to repay the loan ahead of schedule, though this could entail early repayment fees. It is important to thoroughly review the terms and conditions of your particular product.

What are the interest rates on lifetime mortgages?

The interest rates associated with lifetime mortgages can vary significantly based on the lender and the chosen product type. Certain lifetime mortgages feature fixed interest rates, whereas others involve variable rates. It is crucial to compare various products, and we can assist you in finding the most suitable option for your circumstances.

Are there any eligibility criteria?

Usually, eligibility for a lifetime mortgage requires you to be a minimum of 55 years old and possess property in the UK. Lenders might also impose particular criteria concerning the property type and its condition.

What are the risks associated with lifetime mortgages?
Lifetime mortgages can be expensive in the long run due to the compound interest that accrues. If you don’t carefully manage the loan, it can eat into the equity of your property over time. It’s important to understand the potential impact on your inheritance and consider other options.
What happens when I die or move into long-term care?

Upon your death or transition into long-term care, your home is usually sold to settle the lifetime mortgage, along with any accrued interest. Any remaining equity is then typically passed on to your beneficiaries as inheritance.

Should I get financial advice before taking out a lifetime mortgage?

Certainly, it’s highly advisable to seek independent financial guidance before contemplating a lifetime mortgage. A financial advisor can assist you in comprehending your choices, evaluating your financial circumstances, and deciding whether a lifetime mortgage is suitable for you.

A lifetime mortgage will be secured against your home. Equity release products are limited to lifetime mortgages only and does not include home reversion schemes. Think carefully before securing other debts against your home.

Other Services

Mortgage Advice
Remortgage Advice

Contact us today to see how we can help you with your mortgage.

Website Created by Scott Pearson Design

Authorised and regulated by the Financial Conduct Authority. 

Lee Berry Mortgage Services is a trading name of LB FINANCIAL LIMITED and is entered on the Financial Services Register under reference 841329.

Registered office address; 35 Ferndale Road, Rayleigh, Essex SS6 9NN

Registered in England and Wales. Company number - 10798151.

The guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK

As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments. 

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