Why use Equity Release

Many retirees are finding themselves unable to maintain the lifestyle they wish to as they simply don’t have the funds to do so. It could be simply because their pensions are not paying what they thought they would. It could be due to interest rates on savings being so low. Or simply because costs have increased considerably.

If this sounds familiar, we could discuss ways to use your property to provide an income to you.

Why clients, over 55, use Equity Release

Man in care home

To raise funds to pay for “Care at Home” rather than having to go into Residential Care and sell their home.

Man in care home

Buy a new house –   move house and may need mortgage finance.

Man in care home

Help relatives, often children/grand-children, with a deposit on their first or next house purchase.

Man in care home

Downsize but still need a smaller mortgage.

Couple worried about bills

Personal expenditure- holidays, day to day living costs.

Stairlift

Home Improvements – to help with things like access to property or property alterations to help with medical conditions in later life.

Mortgage Application

Repay an existing Interest Only Mortgage that is about to expire.

Remortgage Document

Remortgage an existing Equity Release Mortgage.

Other ways clients can gain access to their equity

Retirement mortgage

This is a fairly new way of borrowing funds against your property. It is basically an interest only Mortgage for life. You can raise funds for any purpose. To date, our clients have used this to either repay an interest only mortgage or to purchase a property. The amount you can borrow depends on the value of your property and your current and future pension income.

We take our commitment to you very seriously, and we carry out in depth calculations to ensure that your retirement income, will support your monthly repayments as well as ensuring that you can maintain your normal standard of living.

Draw Down Plans

This is where you can take out an initial lump sum and have a further pre-agreed sum of funds for your use, if and when you require. You don’t pay for these funds unless you use them.

Clients who have used this facility tend to do so to top up their monthly or annual income. Alternatively, they use it for the luxuries that they couldn’t afford without having these funds available.

All products carry their own terms and conditions, all of which will be explained to you in detail before you’re committed to any application.

Learn more about Equity Release

What is Equity Release

Equity release is a “Tax Free” way of “unlocking” or “releasing” capital tied up in the property you own and live in, these funds can be used as you wish. Learn more about what Equity Release is and why you may need it.

What are Equity Release Mortgages

There are two main types of equity release schemes – reversions schemes and lifetime mortgages – and choosing the right one is absolutely crucial. Learn more about which may be best for you.

Is Equity Release right for you?

Equity release is not always suitable for everyone. We will explain to you and your family if we feel that equity release is not the right option for you and how equity release works. Learn more about your options.

Call us today to discuss your needs or send us your enquiry