WHAT IS EQUITY RELEASE?
If you are a UK homeowner aged 55 or over, equity release could offer you a way to access money tied up in your home without moving.
The schemes are designed to allow you to;
- To release a tax-free lump sum, a regular income or both.
- The ability to release funds when you need it.
- The freedom to spend your money on almost anything you choose.
Before considering Equity Release or Home Reversion plans it is recommended that you consider all your other potential options first to achieve your aims. These include, but are not limited to those listed below;
• Savings & Investments
• Pension Credit / Council Tax Benefit
• Grants for repair or modifications to a property
• Moving to a smaller home
• Selling the home and renting
You must also consider how your State Benefits entitlement may be affected by equity release.
Equity release products are either lifetime mortgages or home reversion plans.
We offer a comprehensive range of equity release products from across the market but not deal’s that you can only obtain by going direct to a product provider.
For Equity Release Mortgage we charge a fee of £1,295. We will also be paid commission from the product provider for arranging the lifetime mortgage or home reversion plan on your behalf.