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Category: Financial Advisers (Independent)

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Why release Equity?

Many retired people find themselves asset rich and cash poor. Maybe their pension is not as much as they had hoped. Maybe investments have not performed as well as they expected. At the same time property prices have soared. Equity Release provides the opportunity to access some of the capital tied up in your home. People release equity for a number of reasons. Home Improvements and Repairs Making a gift to a relative, with the growth of house prices, many first time buyers are struggling to get on the housing ladder. Healthcare Some people prefer to have an operation more quickly and in greater comfort in the private sector. Equity Release could provide the funds to do this if a waiting list is too long. Buying a car Holiday of a lifetime Supplementing income

How can I release equity?

A Lifetime Mortgage is a special kind of loan for homeowners aged sixty and over. Although it is secured on your property, there are no monthly payments to make and it is designed to help you remain in your home for as long as you wish. A Lifetime Mortgage allows you to benefit from the financial investment you have made in your house with absolutely no worries of having to give it up. Interest will be added to your loan and the full amount is paid back when your home is eventually sold following your death (or the death of the second borrower if it is a joint application) or if you move into long-term care or sheltered accommodation. This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration.

Sell your home, or part of it. This is called a Home Reversion Plan. A Home Reversion Plan involves you selling part or all of your property in return for a cash lump sum and the right to remain in your property rent free until you die (or the death of the second owner if it is a joint application) or if you move into long-term care or sheltered accommodation. Unlike a Lifetime Mortgage the money you receive is not a loan so you pay no interest on it. The reversion provider owns a proportion of your property and takes their share of the sale proceeds when the property is eventually sold.

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equity release, equity release plans, equity release specialist, financial advice, financial advisers, home reversion advice, independent financial advisers, lifetime mortgage advice, mortgage advice, retirement planning

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