Equity Release
Your Home
Release Equity from your Home, without stress test, having to prove your Income or Credit Score checks.
If you are over 55 Years old, you are able to take monies from the Equity in your Home without having to make any repayments until 1 Year after you pass.
The monies you take can be used for more or less any thing you want to do like Home improvements, helping your Children or simply making your life more comfortable.
The Equity release Product is fully regulated by the Financial Conduct Authority, so why struggle to pay Bills, when you could release Monies from the Equity in your Home without having to make any repayments in your lifetime?
Have a FREE consultation with one of our Equity Release Experts, regulated by the Financial conduct Authority.
Common misunderstandings about Equity Release
.. I will no longer own my own Home.
You are not selling your Home 100% ownership is guaranteed.
.. I may end up owing more than my Property is worth.
You will never owe more than the value of your Property.
.. I cannot release equity because I still have a mortgage.
Equity release can be used to clear your existing mortgages.
.. I will have to make monthly payments with a lifetime mortgage.
There is no requirement to make monthly payments unless you choose to do so.
.. I will have nothing left to leave my love ones.
You can release equity and still leave an inheritance for you love ones.
Reason you might want equity release
- Buy second home
With equity release, you can access the funds needed to purchase a second home. Whether it's a cozy cottage by the sea or a chic apartment in the city, you can invest in a new place to create more cherished memories without the financial strain.
- Pay off mortgage
Equity release can provide the means to pay off your existing mortgage, relieving you of monthly payments and financial stress. This way, you can enjoy your retirement with greater peace of mind and more disposable income.
- Pay for care
If you need to cover the costs of personal or medical care, equity release offers a solution. By unlocking the value of your home, you can ensure you have the necessary funds to access high-quality care services while remaining financially secure.
- Purchase another property
Thinking of investing in additional real estate? Equity release can provide the capital required to purchase another property, whether for rental income, a family member, or simply a change of scenery. It's a great way to diversify your investments.
- Avoid care home fees
Stay in the comfort of your own home and avoid the high costs of care homes. Equity release can help cover the expenses of in-home care, allowing you to maintain your independence and live where you feel most comfortable.
- Avoid inheritance tax
Equity release can be used as a strategic financial tool to reduce the value of your estate, thereby lowering the potential inheritance tax your heirs might face. This allows you to pass on more of your wealth to your loved ones.
- Buy out partner
If you need to buy out a partner's share of your home, equity release can provide the necessary funds. This can be particularly useful in situations like divorce settlements, ensuring that you can retain ownership of your home without financial hardship.
- Pay off debt
Use equity release to clear existing debts, freeing you from high-interest payments and financial burden. This can significantly improve your quality of life, giving you the freedom to enjoy your retirement without the worry of debt hanging over you.
We can provide information on the following equity release scenarios
- Equity release without compound interest
Discover equity release options that avoid the accumulation of compound interest, ensuring that the amount you owe doesn't grow exponentially over time. This can help maintain more of your home's value for future use or inheritance.
- Equity release without a mortgage
If you own your home outright and are looking to access its value without taking on a new mortgage, equity release can provide a straightforward solution. This allows you to unlock funds without the complexities of traditional mortgages.
- Equity release without interest
Explore equity release plans that do not involve interest charges, which can be particularly advantageous for those looking to maximize the amount of money available from their home without accruing additional costs.
- Equity release without early repayment charges
Learn about equity release products that allow you to repay the loan early without incurring penalties. This flexibility can be valuable if your financial situation changes and you wish to settle the loan ahead of schedule.
- Equity release without rolled up interest
Choose equity release options that avoid the rolling up of interest, where interest is added to the loan balance. This can help in managing the overall cost of the loan and preserving more equity in your property.
- Equity release without using a broker
For those who prefer to handle their financial matters independently, there are equity release products available directly from lenders, eliminating the need for a broker and potentially reducing associated fees.
- Equity release without NHBC
Explore equity release options that do not require an NHBC warranty, particularly useful for homeowners whose properties may not have this type of coverage. This broadens the range of properties eligible for equity release.
- Equity release calculator without giving personal details
Use equity release calculators that allow you to get an estimate of the amount you could release from your home without needing to input personal details. This offers a convenient and private way to explore your options.
Common questions about equity release
- Equity release: is it a good idea?
Equity release can be a good idea if you need access to cash and want to stay in your home. It provides a way to unlock the value of your property without selling it, but it’s important to weigh the costs and benefits with professional advice.
- Equity release: is it a con?
Equity release is a legitimate financial product regulated by the Financial Conduct Authority (FCA). However, it’s crucial to understand the terms and choose a reputable provider to ensure it meets your financial needs without hidden pitfalls.
- Equity release: is it worth it?
Whether equity release is worth it depends on your individual circumstances. For many, it offers significant financial relief and enhances their quality of life. Consulting a financial advisor can help determine if it’s the right choice for you.
- Equity release: is it safe?
Equity release products are safe if taken from a regulated provider. They come with safeguards, such as a no negative equity guarantee, ensuring you won’t owe more than the value of your home. Always consult with a financial advisor for personalized advice.
- Equity release: is it good?
Equity release can be a beneficial solution for many homeowners needing extra funds during retirement. It allows access to home equity while still living in your home, providing financial flexibility and peace of mind.
- Is equity release tax-free?
Yes, the money you receive from equity release is tax-free. However, it’s wise to consider how this might affect your tax situation, especially regarding inheritance tax and benefits.
- Is equity release available in Ireland?
Equity release is available in Ireland, but the market and regulations differ from those in the UK. It’s important to seek advice from a financial expert familiar with Irish products and laws.
- Equity release: can I pay it back?
Some equity release products allow you to repay the loan or interest either partially or fully without penalties. This flexibility can help manage the total cost of the loan. Check the terms with your provider.
- Equity release: can I sell my house?
You can sell your house if you have an equity release plan, but the loan will need to be repaid from the sale proceeds. It’s important to discuss potential early repayment charges with your provider.
- Equity release: can you move house?
Yes, you can move house with most equity release plans, provided the new property meets the lender’s criteria. The loan is transferred to the new home, offering flexibility if your housing needs change.
- Equity release: can I pay the interest?
Some equity release plans, such as interest-only lifetime mortgages, allow you to pay the interest as you go, preventing the loan from growing over time. This can help maintain the equity in your home.
- Equity release: can I move house?
Yes, you can move house with an equity release plan, given that the new property is acceptable to the lender. This provides flexibility to relocate while keeping your financial arrangements intact.
- What equity release can I get?
The type of equity release you can get depends on factors like your age, the value of your home, and your financial needs. Common options include lifetime mortgages and home reversion plans. Consulting a specialist can help you find the best fit.
- Equity release that can be repaid?
Some equity release plans offer the flexibility to make repayments. These include flexible lifetime mortgages where you can choose to repay capital or interest, helping to manage the total amount owed over time.
- Equity release: how much can I borrow?
The amount you can borrow through equity release depends on your age, the value of your property, and the type of plan you choose. Generally, older homeowners can release a larger percentage of their home’s value. An equity release advisor can provide a personalized estimate.
If you are struggling to find answers to your questions about equity release, then give us a call or send us a message and we can arrange a meeting to discuss your concerns and setting up your equity release plan. Our team of professionals are here to help people like you.