How does it work?
	Main Benefits?
	Do I qualify?
	How much does it cost me?
	When is it repaid?

You take a mortgage to raise the amount of money you need and repay the interest monthly. This means you are protecting the capital value of your home. Once you meet the income qualifications for repayments, monthly interest repayments are by direct debit.

The loan itself must be repaid within thirty years, or when the oldest person of a couple reaches 90 years of age, or when you pass away. You can choose a variable interest rate or a one, two or three year fixed interest rate. Please contact our offices for current interest rates*

• You are not eating into the capital value of your home as you are repaying the interest monthly, so you can still leave a substantial inheritance to your family

• When you pass away, your house does not have to be sold to repay the loan

• Your children or others, can make the monthly interest repayments for you as long as you qualify and meet the income criteria

• You can be away from your home for as long and as often as you want

• You can mortgage an Irish Holiday Home or Irish Investment Property

• You qualify for 20% income tax relief on the interest repayments, if you are liable for personal income tax

• You are free to move home if you wish – with no exit costs*

• You can repay the loan anytime you wish – with no exit costs*

• If you find that your income is reduced, you can switch to other equity release options any time you wish – with no exit costs*

*Depending on circumstances, small exit costs may apply

Yes, if you:

• Are both over 60 and own your own home or the property you wish to mortgage

• Take a loan above €30,000

• Take a loan up to a maximum of 30% of the value of your home

• Have a minimum annual income of €20,000 if you are single or €30,000 if you are a couple.

There are no costs until you have talked everything through with one of our consultants and are happy to go ahead. Then as well as your monthly interest payments your costs are:

• Your own solicitor’s fees

• Your valuation fee of approximately €160*

• A 0.5% arrangement fee up to a maximum of €1,800 payable to Start Mortgages Ltd as at 26th August 2008*

• An administration fee of €500 which is non refundable paid to Sixty Plus Finance at approval in principle stage *

*The arrangement fee can be deducted from the loan amount unless you wish to prepay same ten days in advance of drawdown

*Both fees are subject to change

All interest rates are correct as of 26th August 2008 and are subject to change on the 1st of a month, if applicable.

Please note:

1. This is a sample illustration only, and is not a formal quotation

2. The cost of your monthly interest repayments may increase – if you do not keep up your interest repayments you may lose your home.

3. The entire amount you have borrowed will still be outstanding at the end of the interest-only period

Because you are paying interest as you go along, only the loan itself has to be repaid within the term of the loan, or when the oldest person of a couple reaches 90 years of age, or when you pass away. At this time it can be repaid in several ways:

At the end of the loan term or when the oldest of couple is aged ninety you can choose to repay the loan by:

1. Converting to an equity release scheme with no repayments such as a home reversion plan or a lifetime mortgage

2. Selling your house and trading down

3. Asking family members or others to repay the loan for you

If you both pass away within the term of the loan or before you are aged ninety, your beneficiaries can choose to repay the loan by:

1. Putting the house up for sale

2. Using money from your estate if they do not wish to sell your house

3. Using money from their own resources if they do not wish to sell your house

This mortgage is underwritten by specialist mortgage provider START Mortgages Ltd., funded by Barclays Bank.

"The funds really help.. clearing existing bills, and having a little cash for the proverbial rainy day".

Couple, Dublin