Martin Lewis advises that caution should be taken when considering lifetime mortgages. While they allow homeowners over 55 to release equity from their property, the compounding interest can significantly reduce inheritance. He recommends exploring alternatives first like downsizing or remortgaging, and consulting with a specialist to fully understand the long-term costs. At **My Later Life**, we support his advice, offering tailored guidance to ensure you make informed decisions. Lifetime mortgages may be suitable for some, but they require careful consideration and professional advice.
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