Equity release plans (for over 55's only)As many of us are living longer, we are finding more and more equity tied up in our own properties. Equity release (also known as lifetime mortgages) allow for the equity to be released and used for many purposes. For people over the age of 55 you may have the option of releasing some equity to be used for other things without the need to give your home up.
It’s always better to talk your requirements though face to face along with any family members or friends that you’d like to be with you. We also offer you the option to do this over the phone should that be your preference.
From our initial conversation, we will always give you open and honest advice. We would also look into any alternative options which may be available to you and very importantly, if Equity Release is not for you, we would let you know.
There are many variants of Equity Release and we would talk you through all these in clear and simple to understand communication. For example, you would have the option to make monthly interest payments, pay off lump sums each year or simply let the interest roll-up. We can also look to ring-fence some equity to guarantee some inheritance for your loved ones.
How we can help you with equity release:
- Full assessment of your situation so that we give the best possible advice
- Discuss in the comfort of your own home or by phone
- Based on you age, health and property value, we will let you know how much you can borrow
- You may want to build an extension or make some home improvements
- Gift funds to children to help them with a new home purchase
- Pay off your existing mortgage and increase monthly disposable income
- Pay for care in your own home and avoid going into a care home
- Buy a dream holiday home or go on a holiday of a lifetime
- Option to pay monthly interest to avoid rolled-up interest
- Reduce inheritance tax exposure
- Buy a new home if you do not quite have enough cash