Equity release options
Lots of homeowners plan to downsize at retirement, either to release funds for a better retirement, or simple because their home is too large once their children have moved on, and built their own lives.
However, when that time arrives, not everyone wants to leave their home full of family memories and sometimes that plan to downsize into a convenient flat doesn’t seem quite so attractive when it comes time to act.
One increasingly popular alternative is to release some of the equity locked up in your home, a lifetime mortgage, so you can have the ‘best of both worlds’ – access some of the money in your home, whilst continuing to live there.
Or maybe you still have some mortgage outstanding, and no ready means to clear it.
Whatever your situation, a lifetime mortgage may help you live the retirement you hoped for without having to make payments on a mortgage.
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What is equity release?
Equity release, a type of lifetime mortgage is simply releasing money from your home on a mortgage where you don’t have to make monthly payments and instead allow the interest to accrue over the rest of your life. The mortgage, inclduing interest, will be repaid from the sale of your home after you’ve died, or gone into long term care.
We’ve partnered with Money Alive to bring you a short video box set that will help you understand more about releasing equity from your home. Releasing equity from your home is a big decision and so understanding it, and some alternative options you might consider, will help you get the best outcome for you and your circumstances.
Equity release is complex, and our qualified experienced advisers will ensure you have sufficient information and advice to help you make the right decision.
Things you should think about before considering Equity Release
Please be aware that releasing equity from your home is likely to mean that your beneficiaries inherit less. Lifetime mortgages often have significant penalties if repaid early, and they are generally considered to be a lifetime commitment. You should also consider whether releasing capital from your home will affect any means tested state benefits that you receive now or in the future.
What our clients say about our Equity Release Service...
Review from Verified Client – October 2023
Review from Verified Client – October 2023
Review from Verified Client – October 2023
Want to learn more?
We are independent, our advice is impartial and our fee structure is transparent. Our approach is simple: we build trusted relationships and focus all our energies to build personalised strategic plans to meet our clients’ individual needs. Helping you achieve your life goals, whatever they may be.
If you’d like to find out more, or learn how we can help you reach your investment goals, get in touch.
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