What is Equity Release?
If you are over the age of 55 and a homeowner, you are probably eligible to take out an equity release plan. The money you release is yours to spend on what you want. Popular choices are home improvements, repaying debts, helping children on to the property ladder or simply enjoying later life.
Equity release schemes are usually secured against your main residence. This is a mortgage designed to run for the lifetime of the homeowner, in which the property remains 100 per cent in your name.
How Can This Help Me?
Equity release schemes are usually secured against your main residence. This is a mortgage designed to run for the lifetime of the homeowner, in which the property remains 100 per cent in your name.
Unlike traditional mortgages, there are typically no month-to-month repayments to make, but most plans now have the facility to make voluntary repayments to help control the balance, if needed. There are many flexible options which can be included with lifetime mortgages, which provide the facility to:
- Make repayments either on an ad-hoc or regular basis via voluntary or monthly repayments which can help control the future mortgage balance.
- Protect an element of equity by including an Inheritance Protection Guarantee, which safeguards a percentage of your estate to pass onto your loved ones.
- Take future cash withdrawals on a drawdown lifetime mortgage basis, following the creation of an initial cash reserve facility.
- Include innovative features such as downsizing protection and compassionate early repayment, both helping
We have many years’ experience and are industry qualified to answer all your questions – no matter how big or small. We always suggest family members are part of any meeting, so you all understand the implications of equity release and ask any questions they may have.
Get a quote today and find out how we can help you invest for the future:
