Equity Release
What is Equity Release?
Equity release is a process that allows you to release money stored up in your home without the need to move. A homeowner of any age can release equity from their home by re-mortgaging; however there are specialist equity release plans available to homeowners aged 55 or older that allow you to release money without having to make any monthly repayments.
The Benefits of Equity Release
Equity release could enable you to:
- Boost your retirement income
- Fund home improvements
- Take the holiday of a lifetime
- Repay credit cards/loans/mortgage
- Make a gift to your family
- Fund health care costs
- Reduce inheritance tax liability
The list can continue because with equity release the monies can be used to enhance your life in which ever way you desire.
There are two main types of Equity Release schemes:
Equity release schemes can be helpful in certain circumstances but are not suitable for everyone. Increases in capital or income resulting from an equity release plan may affect your right to state benefits.
For further information please contact our equity release specialist, Heidi Nuthall, on 01603 218381 or use our mortgage enquiry form.
Initial consultations are free. Should you then wish to act upon our advice a fee is charged. Our standard fee for equity release plans is £500 payable on completion of your plan. The lender or mortgage provider will normally pay us an introducer fee providing your plan completes.
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Financial Services Authority.
