Lifetime Mortgages.

Lifetime mortgages essex

Your Local
Mortgage Expert.

We’re your friendly, experts in Lifetime mortgages Essex based in Rayleigh, Essex.


With more than two decades of dedicated experience in the property and mortgage sector, Lee Berry has cultivated a wealth of expertise. Throughout his extensive career, he has assisted numerous clients in the art of securing the ideal mortgage tailored to their unique needs and aspirations. What sets Lee apart is his commitment to delivering a personalised and hands-on approach to his services. This means that clients can expect a level of care and attention that goes beyond the ordinary, as Lee strives to ensure that each individual’s financial goals and homeownership dreams are not only met but exceeded. His in-depth industry knowledge and commitment to understanding his clients’ specific requirements make him a trusted advisor in the world of property financing. Whether you’re a first-time homebuyer or a seasoned property investor, Lee Berry’s seasoned expertise and personalised service will guide you towards a successful mortgage experience.

What is a lifetime mortgage?

A lifetime mortgage is actually one of the most popular forms of equity release which enables you to continue to own your home in full, whilst also releasing a lump sum of tax-free cash against the property value.

There is no requirement to make any monthly repayments as this is all repaid including the interest when you die, move into long-term care or permanently leave the property.

A lifetime mortgage is secured against your property. To understand the features and risks ask for a personalised illustration.

Equity release requires paying off any existing mortgage. Any money released, plus accrued interest would be repaid upon death, or moving into long-term care.

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 a form of equity release scheme that allows homeowners aged 55 or older to borrow money against the value of their home, with the loan being repaid, along with interest, when the homeowner either sells the property or passes away.
How does a lifetime mortgage work?
With a lifetime mortgage, you can typically borrow a lump sum or receive regular payments while retaining ownership of your home. Interest accrues on the loan amount, but you don’t have to make monthly repayments. The loan, plus interest, is repaid from the sale of your home when your property is sold.
How much can I borrow with a lifetime mortgage?
The amount you can borrow depends on factors like your age, the value of your property, and the specific terms of the lifetime mortgage product. Generally, the older you are and the higher your property’s value, the more you can borrow.
Can I move house if I have a lifetime mortgage?
Some lifetime mortgage products are portable, allowing you to move to a new property as long as it meets the lender’s criteria. However, this can be more complex and may require additional borrowing or repayment if the new property is of higher value.
Can I pay off a lifetime mortgage early?
Some lifetime mortgage products allow you to repay the loan early, but this may come with early repayment charges. Be sure to check the terms and conditions of your specific product.
What are the interest rates on lifetime mortgages?
Interest rates on lifetime mortgages can vary widely depending on the lender and the type of product you choose. Some lifetime mortgages offer fixed interest rates, while others offer variable rates. It’s essential to compare different products and we are able to help you find the best deal for your situation.
Are there any eligibility criteria?
Typically, you must be at least 55 years old and own a property in the UK to be eligible for a lifetime mortgage. Lenders may also have specific criteria regarding the type and condition of the property.
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?
When you pass away or move into long-term care, your home is typically sold to repay the lifetime mortgage, including any accrued interest. Any remaining equity is usually passed on to your beneficiaries as an inheritance.
Should I get financial advice before taking out a lifetime mortgage?
Yes, it’s strongly recommended to seek independent financial advice before considering a lifetime mortgage. A financial advisor can help you understand your options, assess your financial situation, and determine if a lifetime mortgage is the right choice 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.

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

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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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