Equity Release

Home / Mortgages / Equity Release

Call us on 0808 231 1073, Lines open 24 hours, 7 days a week

0%
We’re 100% Independent!

We are fully independent which means we have access to the whole of the UK lender market.  We also have a number of experienced advisers who will advise you on what steps you need to take to either port your current mortgage to your new house, or to get a better deal during the move.

 

What is Equity Release?

Equity Release is for clients over 55.  It is a lifetime mortgage that allows clients to release the money tied up in their property to provide them with a regular monthly income, or a tax-free a lump-sum or smaller amounts that you can take as and when they are needed.

How does Equity Release work?

This product is designed to give clients the option of staying in their home until they either pass or go into long-term care.  Interest is added to the amount you owe each month, meaning that the lender will charge interest on the loan plus any interest already added. You may choose from either a lump-sum, or smaller amount, take a monthly income, or opt to pay the monthly interest payments.

YOU SHOULD THINK OF EQUITY RELEASE AS A LONG-TERM TRANSACTION. IF THINGS CHANGE AND YOU WANT TO PAY IT OFF SOONER, THERE MAY BE AN EARLY REPAYMENT CHARGE. CONSIDER WHETHER IT WILL BE RIGHT FOR YOU BOTH NOW AND IN THE FUTURE, AS WELL AS HOW MUCH IT WILL ULTIMATLEY COST.

TAKING CASH OUT OF YOUR HOME THROUGH A LIFETIME MORTGAGE COULD HAVE TAX IMPLICATIONS OR AFFECT WHETHER YOU’RE ELIGIBLE FOR CERTAIN WELFARE BENEFITS.