Equity Release
Equity release is becoming increasingly popular. It is available to homeowners aged 55 or over who are looking to access part of their property wealth, without the need to sell their home and downsize to a smaller property. It can also be used to help fund a property purchase.
The most popular equity release plan in the UK is a Lifetime Mortgage. Unlike some equity release plans in the past, a Lifetime Mortgage offers the borrower peace of mind that they will remain the sole owner of their home while having no obligation to make monthly payments if preferred.
These are some examples of why people may consider releasing equity in their home with a Lifetime Mortgage;
- Paying for home improvements
- To repay other debts they may have
- Repaying current mortgage
- To pay for holidays or lifestyle expenses
- Buying a new car
- Increasing disposable income
- To be used towards a purchase if needing additional funds
- Gifting money to family and friends
One of our advisers will be happy to talk through the options available to you and answer any questions you may have either over the phone or face-to-face in our office. We are also happy for you to bring a family member to the appointment if you would like.
Equity release requires paying off any existing mortgage. Any money released, plus accrued interest would be repaid upon death, or moving into long-term care.
