) No I am not rich but I have a lifetime mortgage on my house with a drawdown which will get me that but I am in no hurry. Sod leaving a pile of cash to the kids let them earn it like I had too.Lifetime mortgages are for old codgers like me and my wife the older you get the more money they lend you and you don't pay it back they take their money when both of you are stiffs. The house is sold and they take their cut 5.95 compound interest each year. So far I have had £50,000 for home improvements and paying off a morgage and £20,000 more when I want it.
Worked out OK so far the house was valued at £275,000 and their bit after 2 years is £5,600 the house is now valued at £330,000 not that I care.
Yes I know its a thread drift and you lot are to young to take advantage of it but you may have relatives who are sitting on a property worth money and finding it hard to make ends meet. This idea might just help them.
