The Voluntary Select Option from Stonehave has been designed to offer customers flexibility and choice, allowing voluntarty contributions of up to 10% of the initial loan amount each year.
Customers can make contributions of up to 10% of the initial loan amount each year, without facing early repayment charges (ERC).
An unlimited number of voluntary contributions is permitted with a minimum deposit amount is £50. Customer can also choose to add the completion fee to the loan balance instead of paying it at completion and this is included in their 10% allowance.
The annual allowance is renewed on the anniversary of their completion date. The annual allowance is not cumulative and if no contributions are made in a year there is no penalty and no impact on future annual allowances.
Stonehaven do not require any evidence of income with these products.
Call us now on 01204 884545 for more information on Equity Release Plans