Equity release, or a Lifetime mortgage, allows those who are over the age of 55 to release a lump sum/equity from their home without having to sell or move house.
There are no stipulations on what the equity released can be used for but below are some examples:
These are all scenarios where we can help.
To help with the general cost of living
You need a lump sum or income to cover care home fees
Require funds for urgent repairs or modifications to your home
If you want to release money to help family for any reason
Should you want the holiday of a lifetime
You want a new car or need to replace your existing one
Would just like a little extra each month to live more comfortably
You may need to clear an existing mortgage and want to stay in your current home
Equity release is a complex product, and it is essential that correct advice is received. Our brokers will explore all options with you to ensure the correct product and advise is provided. Other options, such a standard mortgage or a retirement interest only (RIO) mortgage, may be a more appropriate alternative, so after an initial meeting we can consider all options available to you.
If you want to discuss Equity Release or find out more about your options, please feel free to contact us 01920 821333.
Any initial conversation or meeting will carry no cost and we will ensure you are fully aware of all potential costs and commitments before progressing any application. We would also ask a friend or family member be present for any potential meetings if you would prefer this option.
A lifetime mortgage may impact the value of your estate and it could affect your entitlement to current and future means tested benefits. The loan plus accrued interest will repayable upon death or moving into long term care.