Investment/Second Home Loans.
Specialist provider New Life Mortgages has launched Landlord Loan, Holiday Home Loan and Second Home Lifetime Mortgage products. These provide opportunities for property investors to release equity from their properties without involving the principal residence.
The Landlord Loan and Holiday Home Loan are NOT regulated by the FSA, and therefore the SHIP Code of Practice cannot apply, but they are still non-serviced and do carry a no negative equity guarantee. The Second Home Lifetime Mortgage is regulated and is SHIP compliant.
New Life Mortgages Limited was formed with the sole objective of helping people to take advantage of the growing opportunities in the UK Equity Release market. They specialise in providing equity release mortgage loans in the form of Lifetime Mortgages to the over 60's. Enabling the over 60's to safely release equity from their properties is all they do.
They are a SHIP member. Safe Home Income Plans (SHIP) is a company supported by the leading providers of home income and equity release plans. All participating companies are pledged to observe the SHIP Code of Practice.