Before you proceed, it’s important that you discuss this with your family and consider all of the options that you have.
A lifetime mortgage is a long-term commitment. There may be other suitable alternatives such as moving home, applying for a government grant or other state benefits, or more short-term loan arrangements.
You must also ensure that you are happy with how the lifetime mortgage works and the terms and conditions associated with it. You need to understand how it may impact your rights to state benefits. Finally, it will also impact any inheritance that you leave to your beneficiaries.
You need to discuss your situation with a suitably qualified financial adviser as they’ll be able to listen to your needs and research your options amongst a wide range of mortgage providers. It may be that a OneFamily Lifetime Mortgage isn’t right for you. Only your financial adviser will be able to tell you this.