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To take out a lifetime mortgage with Key, you must be a UK homeowner:
|Product||Balance at the start of the year||MER¹||Interest added²||Balance at the end of the year³|
This example is for illustrative purposes only and uses the average release amount of £81,703 and MER (monthly equivalent rate) of 6.74% - Key Market Monitor, Q1 2023..
¹ With all Key lifetime mortgages, the interest rate is fixed throughout the life of the plan
² Interest is charged on balance as at the start of the year, not the original amount
³ The balance at the end of the year including compound interest
⁴ This cycle continues throughout the life of the plan
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