Equity Release
If you are a UK homeowner aged 55 or over, equity release could offer you a way to access money tied up in your home without moving.
The schemes are designed to allow you to;
- To release a tax-free lump sum, a regular income or both.
- The ability to release funds when you need it.
- The freedom to spend your money on almost anything you choose.
Before considering Equity Release or Home Reversion plans it is recommended that you consider all your other potential options first to achieve your aims. These include, but are not limited to those listed below;
- Savings & Investments
- Pension Credit / Council Tax Benefit
- Grants for repair or modifications to a property
- Moving to a smaller home
- Selling the home and renting
You must also consider how your State Benefits entitlement may be affected by equity release.
Equity release products are either lifetime mortgages or home reversion plans.
We offer a comprehensive range of lifetime mortgage products from across the market but not deal’s that you can only obtain by going direct to a product provider. Please note that we do not offer home reversion plans either. They are mentioned here for informational purposes only.
For Lifetime Mortgages we charge a fee of £1,490. We will also be paid commission from the product provider for arranging the lifetime mortgage on your behalf.
THERE ARE TWO MAIN TYPES OF EQUITY RELEASE SCHEMES
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A Lifetime Mortgage – Normally available from the age of 55
This is secured against your home and enables you to borrow a proportion of your home’s value. Interest will be charged on the amount.
There are 2 main types of Lifetime mortgage
Learn MoreHome Reversion Scheme – Normally available from the age of 65
This normally allows you to sell a share, or all of your property to the provider for less than the market value. You have the right to stay in your home for the rest of your life.
Learn MoreApple mortgage solutions have been extremely helpful throughout the mortgage and re-mortgage process. With their holistic view of the whole market they were able to always get me the best available deal and their knowledge and expertise guarantees a successful outcome. I regularly recommend them to family and friends and will certainly return for all my future mortgage needs.
Michael Barber – Bishop Stortford