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Equity release plans enable you to release some of the capital tied up in your home to boost the quality of your life in retirement. There are two main types of equity release plans available - lifetime mortgages and home reversion plans. Both types allow you to:
- release cash from your home
- spend the cash as you wish
- make no monthly repayments
- stay in your home for life
By providing advice on equity release products we specialise in helping clients make the most of their retirement.
The money released allows you to do some of the following
- Pay off any mortgages that you may still have
- Pay off any loans that you may have
- Carry out some home improvements
- Upgrade your car
- take holidays and short breaks
- improve or maintain your lifestyle
How we can help.
As impartial financial advisers who use the whole of the market we are able to help in this complicated sector of the market. We will
1. take time to assess your current circumstances and needs.
2. fully explain how equity release products work together with the advantages and disadvantages.
3. discuss how this may impact on your tax position and on your entitlement to state benefits
4. discuss how equity release products will impact on your estate and your beneficiaries.
5. discuss all the alternatives to equity release products.
6 search the whole market on your behalf. We will provide you with impartial advice that is tailored to your unique circumstances. We guide you through the different types of equity release plans available to find the best possible plan for your needs.
If we do not think an equity release product is appropriate for you we will tell you so.
Lifetime Mortgage or Home Reversion?
Lifetime Mortgage
This type of mortgage is secured against the value of the home. There are no monthly repayments and interest is rolled up over the life of the loan and repaid upon leaving for long-term care or death; at this point the property is sold and the lender repaid. The loan can increase as interest is added over time to greater than the value of the property depending on how long the plan is in force for.
(This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration).
Home Reversion Plan
A home reversion plan involves selling a percentage of a property to a reversion company for a fixed amount. Homeowners will receive a certain percentage of the value of the property depending on their age. When the property is sold, the reversion company receives the same percentage of the sales proceeds, which was originally borrowed against the value of the home.(This is a home reversion plan. To understand the features and risks, ask for a personalised illustration)
There are currently many equity release plans to choose from. You can save your estate much money if you choose the right one.
The Next Step
But how do you find the right deal for you. There are different
lenders in graduate and professional mortgage market. We believe
all clients have a unique set of circumstances. If you contact
us, we can look at your circumstances in confidence. We have
powerful mortgage software which is updated daily over the
Internet. This means we have access to up to the minute information
on the whole of the mortgage market. Using this we can scour
the market for you and identify the most suitable deals that
meet your particular needs.
Our service is not restricted to our local area. We have
clients all over Great Britain. We are able to help wherever
you are in the UK. If you would like to discuss you circumstances
in confidence, please do not hesitate to get in touch on
Tel: 01244 317788
Email: info@cityinvestments.co.uk
S11a, Chester Enterprise Centre, Chester CH2 3NE.
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