Our initial consultation with you is completely free of charge and designed to help us get to know each other. Youâll learn more about how we can support you through the equity release process, and weâll discover more about your position and reasons for considering equity release.
If youâre happy to go ahead, our experienced advisers will search the whole market to find the equity release product that meets your needs. Then weâll liaise with providers and solicitors to complete the application on your behalf, so you can enjoy the freedom and happiness you deserve.
Clients ask usâŚ
How does equity release work?
Equity release is a financial product available to homeowners aged 55 and over that allows them to access the equity tied up in their property. Through equity release, cash is released to you as either a lump sum or regular payments.
What types of equity release are there?
The main types of equity release are lifetime mortgages and home reversion plans. With lifetime mortgages, you borrow money with interest that rolls up over time, repaid from the sale of your home when you pass away or move into long-term care. Under a home reversion plan, you sell a portion of your home equity upfront for a lump sum, with ownership decreasing over time.
How much equity can I release?
The amount depends on your age, property value, and lender criteria. Typically, you can release between 20% and 60% of your home's value, with older homeowners eligible for larger amounts.
Will equity release affect my benefits?
Large lump sums from equity release could affect your entitlement to means-tested benefits. Your adviser will carefully assess your position, and help you make the correct decision.
What happens to my inheritance?
Equity release can reduce the value of your estate, so you might leave less behind for loved ones and beneficiaries than youâd hoped. Our experts will explore strategies to mitigate this, but itâs important to discuss equity release with your family before proceeding.
Are there any alternatives?
Depending on your circumstances, other options, such as downsizing to a smaller property or using savings or other assets, might be more suitable for you. With our specialist help, youâll weigh up all the pros and cons so that youâre confident about your decision, whatever you choose to do.
Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
Any products we recommend will meet the Equity Release Councilâs product standards, including their âno negative equity guaranteeâ. Visit the Equity Release Councilâs website for more details.
How we can help you with equity release
Through clear, down-to-earth advice based on years of specialist experience, weâll make your later-life dreams a reality:
- Weâll help you understand the long-term implications of equity release and things to bear in mind if your circumstances change in the future
- Weâll explain all charges and costs in detail, so youâre clear about what youâre paying for and what youâll get in return
- Weâll provide trustworthy advice that follows all the necessary rules and regulations
- Weâll be there to hold your hand every step of the way.
Unfortunately, if any of the following circumstances apply to you, then we wonât be able to help:
- You are looking for an equity release product for less than ÂŁ50,000
- You are looking for a self-build mortgage or bridging loan
- The property from which youâre releasing equity is a (or above a) commercial property
- You have an adverse credit history, such as:
- A County Court Judgment (CCJ) in the past three yearsA default of more than ÂŁ500 in the past three years
- A Debt Relief Order (DRO) or Individual Voluntary arrangement (IVA) in the past six years
- A history of bankruptcy
- Any unsatisfied default.
