If you took out an interest only mortgage years ago and it’s due to end soon, equity release could provide you with a lifeline if you don’t have the funds available to repay the capital, without needing to sell or move out of your home. 

 

 

If you’re looking to make home improvements or renovations, equity release is one way to fund them. 

 

 

You may find yourself asset rich but cash poor in later life but may not want the hassle of having to move home to free up your property wealth. 

 

 

Equity release can provide a TOP UP to your retirement income, if your pension doesn’t provide you with enough to live comfortably. 

 

 

Equity release can enable you to provide a ‘living inheritance’ for your family, which could help them buy a house, or contribute towards other costs. 

 

 

Whilst there are two types of equity release; Lifetime Mortgages and Home Reversion plans, which are both lending solutions that are regulated by the Financial Conduct Authority, we only advise on Lifetime Mortgages. By using equity release, a home owner can draw a lump sum or regular smaller sums from the value of their home, while remaining in their home. 

 

 

A Lifetime mortgage is a type of mortgage which does not require monthly repayments, although with some you can choose not to roll up the interest and make monthly interest payments. 

 

You retain ownership of your home and interest on the loan is rolled up (compounded). The loan and the rolled-up interest are repaid by your estate when you either die or move into long term care. If you are part of a couple and the property is in joint names, the repayment is not made until the last remaining person living in the home either dies or moves into care, meaning that both you and your partner are free to live in your home for the rest of your lives. 

 

 

 

To weigh up the advantages and disadvantages fully before you make a decision on whether equity release is right for you, speak to a specialist adviser. As a qualified adviser firm, we can help you to understand what’s involved and talk you through your options. 

 

There are many different options available and taking in to consideration your current and future needs we look to match those with the right solution. 

 

It is really important for you to find out as much as you can, to get qualified advice and, where possible, to talk it over with your family to ensure you choose the best plan to fit your needs. 

 

For your assured peace of mind, we are also members of the Equity Release Council and as members we abide by the Council rules and are signed up to their Statement of Principles.