Make an informed decision
Equity release – is it right for you?
If you are considering equity release/lifetime mortgages to improve your later life lifestyle, provide a ‘living inheritance’ for your children or need to clear your existing mortgage or debts…
It will be best to initially chat over your objectives and circumstances with an Equity Release mortgage adviser. They will be able to let you know how much you can borrow, and all the costs involved.
Your personal equity release adviser will research the whole of the market and present to you the best products tailored to your goals. This will allow you to make an informed decision that is best for you.
You could benefit from…
Tax-Free Lump Sum
Stay in the home you love
No monthly repayments
4 simple steps to get the best Equity Release mortgage for you
Call us on 01273 736536 or click here to be in touch with your personal equity release mortgage expert to chat over your circumstance and objectives.
Let your personal adviser save you time and money by researching the market to find the best options for you, and giving you the confidence to make decisions.
When you are confident and comfortable to progress, your personal specialist mortgage adviser will apply to the best provider for you.
We will communicate with the lender, keeping your informed along the way until your objectives are met and your equity release has completed.
Find out what you can borrow to improve your life, chat to an independent equity release adviser today!
What you need to know…
Am I eligible for an Equity Release/Lifetime mortgage?
You will need to be aged 55 or over (the youngest age if a couple) and own your home in the UK. The criteria on the amount that can be borrowed depends on the property and your age.
If you are aged under 65 it is typical for us to recommend more cost-effective lending solutions, this is a major benefit of working with independent mortgage experts instead of an Equity Release Specialist or a Financial Adviser.
What can I spend my money on?
You can spend the money for a variety of reasons. Most commonly the money is used for home improvements, to supplement income, to provide a gift to children to help them get them on the property ladder or repay interest only mortgages at the end of their term.
Is money received from equity release/lifetime mortgages taxed?
No, the cash lump sum released from the equity in your home is tax-free.
Is the amount I can borrow based on my income?
No, there is no minimum income requirement. The amount you can borrow is based on the age of the youngest applicant, potentially your health, the property type and value.
How much can I release?
The amount you can release does depend on the age of the youngest applicant, the property type and value. Equity Release/Later life lending is more complicated than it initially appears, it is always best to chat over your objectives and to consider the pros and cons of different options to make an informed decision.
We are independent therefore will find the best solution for your circumstance and objective.
Can equity release be used to clear an existing mortgage?
Yes, this is becoming increasingly common. There is no income assessment and allows you to stay in your home. Equity Release / Later life lending isn’t always the best solution. We are independent mortgage experts which means if it is more cost effective to secure alternative lending routes, we will offer you the option.
Will we leave our children with a debt?
No, it is a myth that taking out an equity release/lifetime mortgage means you will pass debt onto your children.
Taking a tax-free lump sum via an equity release/lifetime mortgage will be protected against this thanks to the regulation in place with plans approved by the Equity Release Council.
Will a lifetime mortgage/equity release affect my state benefits?
Yes, it can affect certain state benefits. Only means tested>benefits can be affected by taking a lifetime mortgage or home reversion plan. Those potentially affected benefits would include savings credit, income support and council tax reduction. We can provide guidance to allow an informed decision to be made.
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