You’re thinking about helping out a homeowner you know with a Retirement Mortgage? It’s a generous decision. Here are some reasons to do it.
You’ll help a loved one age at home, more comfortably.
Simply put, you’re allowing a cash-strapped loved one to avoid selling their home. By providing them with income now, in exchange for a share of their home equity later, you’re doing them a great service.
You’ll know that your payments are secured by a lien on the property.
You’re willing to help someone out, and that’s fantastic. But money is still money. And having your payments secured by real estate means you’re assured of getting your money back, or being repaid in home equity.
You’ll have Virgin Money to handle disbursements and record keeping.
We’re professionals. We’ve done this before and know all the in’s and out’s. You can call us up any time during the life of your loan to ask a question. And besides, having an independent third party handle your loan between family and friends makes everything go a lot smoother. That way, you don’t even have to talk about your loan if you don’t want to.