Making Cents: Do your research before taking out a lifetime loan

A lifetime loan can have dramatic implications for your next of kin and family members 

Have all the facts before you take out a lifetime loan

Earlier this year, a provider of Lifetime Loans reopened to new applicants in Ireland but consumers who may be considering one are warned that these are complex products that require careful consideration.

The loans are offered by Seniors Money Mortgages (Ireland) DAC, and information and guidance is provided by its retail division Spry Finance. A Lifetime Loan or Lifetime Mortgage is a type of equity release scheme.