What is Equity Release?
Equity Release can give eligible homeowners aged 55 or older access to some of the money tied up in the value of their property.
These plans could allow you to take cash from the value of your home, without having to move out. If you own your property outright or if your property’s worth more than any loans you have secured against it, then you’ve more than likely got equity tied up in your home.
Why Consider Equity Release?
Get funds for home improvements or adaptions
Have enough to pay-off existing loans and debts (eg: interest-only mortgage)
You want additional retirement income
Funds for later life care at home
You want to help family and friends get on the housing ladder
Retirement is something to be celebrated
The kind of Equity Release we offer is LIFETIME MORTGAGE.
A lifetime mortgage allows you to take out a mortgage against your main residence while retaining ownership
Benefits of a Lifetime Mortgage
Are you elligible?
To apply for Lifetime Mortgage:
You must be aged 55+
The property must be your own residence
You keep ownership of your home
The amount of equity you can release depends on several factors such as age, property value and property type.
How to Apply?
Equity release may involve a lifetime mortgage which is secured against your property or a home reversion plan which requires the sale of property for a discounted price. To understand the features and risks, ask for a personalised illustration. You only continue to own your own home with a lifetime mortgage.
Equity release may impact the size of your estate and it could affect your entitlement to current and future means-tested benefits.