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Tip of the week: Life loans

These are loans for the over 65s where no interest or capital is repaid on home loans until you pass away.

At that point, your executor sorts out any surplus with the lender for distribution as per your will. They can be useful if: you have no income other than the State benefit (€230.30 per week); your home could do with refurbishment or you have other capital needs; and you have no alternatives, no family or family already fully financially committed There is no point in bequeathing it and living in squalor. Take professional paid advice on your options.