Equity Release

Releasing Equity from your property.

There are two main types of Equity Release: 

Lifetime mortgages

The borrowing of a proportion of your home’s value to raise money for your various purposes. Interest is charged on the amount borrowed but often nothing has to be repaid until you die or sell your home. The interest is ‘rolled up’ over the period of the loan, which means your debt would almost double in 10 years at current rates. To understand the features and risks please ask for a personalized illustration.

A Lifetime Mortgage will reduce the value of your estate, it will not be suitable for everyone and may affect your entitlement to state  benefits.

We provide independent advice to check that a Lifetime Mortgage will meet your needs if you want to move or sell your home or you want your family to inherit it.

Home reversion schemes

The selling of a share of your property to the provider for less than the market value to raise money for your various purposes. You have the right to stay in your home for the rest of your life if you wish. When you die or move into long-term care and the property is sold, the provider gets the same share of the sale price. For example, if you sold 60% of your property to the provider, it would get 60% of the sale price.

A Home Reversion plan will reduce the value of your estate, it will not be suitable for everyone and may effect your entitlement to state benefits. To understand the features and risks please ask for a personalized illustration.

 

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Equity Release Council Guide

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Equity Release is a Lifetime Mortgage. To understand the features and risks please ask for a personalised illustration

Check that this mortgage will meet your needs if you want to move or sell your home or you want your family to inherit it. If you are in any doubt, seek independent advice

A Lifetime Mortgage will reduce the value of your estate, will not be suitable for everyone and may affect your entitlement to state benefits

We normally charge a fee for Equity Release advice, however this will be dependent on your circumstances. Our typical fee is £750

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