Equity Release Advice

Impartial advice on Equity Release from Independent Specialists

Are you and your partner over age 55?

If you own your own property and have a small or no mortgage on it an equity release plan may enable you to raise some money on it.

Equity release plans

These 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 of equity release 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.

Equity release release 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:

  • Take time to assess your current circumstances and needs.
  • Fully explain how equity release products work together with the advantages and disadvantages.
  • Discuss how this may impact on your tax position and on your entitlement to state benefits
  • Discuss how equity release products will impact on your estate and your beneficiaries.
  • Discuss all the alternatives to equity release products.
  • 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.

Equity release by Lifetime Mortgage or Home Reversion?

These are the two main methods of equity release -

Lifetime Mortgage

This type of equity release 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. We firmly believe quality equity release advice is important here.

The Next Step

But how do you find the right equity release method for you?

There are different lenders offering equity release mortgages and home reversions deals.. If you contact us, we can look at your circumstances in confidence. We have many years experience in providing equity release advice.

We have access to up to the minute information on the whole of this complicated market. Using this we and our many years of experience we can identify the most suitable equity release schemes that meet your particular needs.

Equity release is not necessarily the right thing for you, so professional advice is vital here. If you would like to know if equity release could be suitable for you, please call us for a confidential consultation.

Our service is not restricted to our local area. We provide equity release advice to 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 566526

 

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Equity Release Blog

Average Care Home Fees reach £30,000 pa


People needing to go into a care home now face average fees of £30,000pa. A study by Prestige Nursing, one of the UK's biggest care agencies, has found Care Fee costs are rising ten times faster than pensioner incomes

Read the full Article Here >

 

IHT receipts reach record high of £4.6bn


Inheritance tax receipts have reached record levels under the current system, as HM Revenue and Customs gathered £4.6bn during 2015/16.

Read the full Article Here >

Over one third of over-55s still have a mortgage


A study by Bower Retirement Solutions has highlighted the growing need for more retirement lending solutions.

Read the full Article Here >

Equity Release market continuing to grow?


Well that’s what Equity Release lender Just Retirement predicts!

The FCA Relaxes affordability tests for some equity release clients


The Financial Conduct Authority is considering allowing lifetime mortgage lenders to remove affordability tests for equity release borrowers on interest only loans that can be converted  to roll-up mortgages at some time in the future

Read the full Article Here >

Equity Release Business Grew in 2015. Most Equity release advances were by Drawdown

Read the full Article Here >

Demand for Equity release continues to grow. 7th January 2016

The Equity Release Council’s (ERC) has released some interesting insights into the demand for Equity Release.* Overall lending was up 11% to £710m to the first half of 2015. The total stood at £641m in the equivalent period last year.

Read the full article here >

 

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A lifetime mortgage is a loan secured against your home. Your home is at risk if you do not keep up the repayments on your mortgage or any other debt secured on it

Typically, our equity release fees may be £375. £75 is paid on application and the balance on completion.
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