Equity Release

Equity release can be welcome solution to many people who are enjoying retirement but may wish to use some of the equity in their home for many reasons. There are different types of equity release available come under these 2 categories:

• Lifetime Mortgage
• Home Reversion

We offer advice on Lifetime Mortgages only, we do not offer advice on Home Reversion schemes.

With the Lifetime Mortgage you retain ownership of your home, you can raise some of the cash tied up in your home for any legal purpose, it may be that you have no one to leave your home to so wish to make the most of the money in your home, you may wish to raise a sum of money to give to your children or grandchildren to put a towards a mortgage, it's up to you.

Many lenders offer the ability to draw an initial amount and the facility to draw additional amounts as and when you need - this way the interest is only charged on the amount you have actually used. You will have options to either let the interest roll up so you do not have to make any monthly payments - this way the interest is added to the mortgage at the end of the term when you either pass away, move into residential care or sell the property, or pay the monthly interest which ensures the loan remains the same amount as you borrowed; some even let you pay just a proportion of the interest so the interest does not roll up as fast. In all instances we will only deal with lenders that offer a 'no negative equity guarantee' this means that under no circumstance will the amount you owe on the mortgage be more than the value of your home.

With the Home Reversion schemes you actually sell all or part of your home to the reversion company in exchange for a sum of money or regular income, you can then live in the property for the rest of your life rent free but must ensure the property is well maintained and insured. Upon your death any remaining share of the property will form part of your estate. We do not offer advice on Home Reversion schemes.

As equity release is such a big decision to make we insist that this is done face to face, we also strongly recommend that family members attend the meetings to ensure they fully understand your financial situation and your plans.

Many people have said they have felt pressured by some companies when discussing equity release, we assure you that will never happen with ourselves, please read our Testimonials to see how we have helped people with equity release.