What is Equity Release?

Access the equity in your home and enjoy financial freedom.

Equity Release as a Lifetime Mortgage allows older homeowners to access the equity (money)they’ve built up in their property, whilst still living in their home forever and owning it fully. You can receive up to 60% of the equity in your home as tax-free cash, and you can spend it however you wish – how much you’re eligible for will depend on your age, the value of your property, and where you live. You don’t have to pay any monthly repayments, you’ll never be in negative equity, and you can ring fence a part of your estate to be passed on to loved ones.

Equity Release has come along way in recent years and there are now plenty of options, allowing you to tailor a deal to suit your needs. We understand you probably have plenty of questions, so please scroll down for more information or book in for a FREE consultation where we can explain all your options and help you find the right deal for your situation. We don’t pressurize you, the choice is entirely yours, and we welcome your family and friends to join in the discussion.

EQUITY RELEASE CALCULATOR

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Why was Equity Release viewed negatively in the past?

The original Equity Release, called ‘Home Reversion’, had a bumpy start, mainly because the lender would own part or all of your home and usually at below market values. However, with the newer Equity Release product, called a ‘Lifetime Mortgage’, you can access the equity as a loan and retain full ownership of your property. Lifetime Mortgages are very flexible and fair, and you can choose a plan that suits your circumstances. These products are regulated by the Financial Conduct Authority, and they are designed to help over 55s access their hard-earned equity as tax-free cash whilst still living in, owning, and protecting their home. Thankfully, the negativity surrounding Equity Release is subsiding as more people learn about the benefits of taking out a Lifetime Mortgage. The market has doubled in size over the previous few years, as thousands of older homeowners are now taking advantage of this fantastic product to enjoy a better life.

Why has Equity Release become so popular?

Reaching later life and having most of your net worth tied up in your home can be restrictive. Imagine a world where you can still live in your home forever, own your home fully, and turn a large portion of your home’s value into tax-free cash to use however you wish. For many, it’s the best of both worlds, allowing them greater financial freedom to live life to the full whilst still enjoying their home forever. Some people wish to protect some of their equity to pass on as inheritance to loved ones, and this can also be done by paying off the interest on your loan as you go. Others are happy to let the interest roll-up into the loan so no monthly repayments are required – doing this can reduce the amount of equity available to pass on to loved ones, but any increase in the value of your property can help to offset this. Equity Release as a Lifetime Mortgage is becoming increasingly popular as it creates financial freedom, whilst allowing you to live in your home forever without going into negative equity. Lifetime Mortgages are truly transforming the lives of older homeowners, and we’re proud to be specialists in this fair, trusted, and regulated form of Equity Release.

How can I use Equity Release to live a better life?

Being able to access up to 60% of the equity in your home as tax-free cash can be truly life-changing. You can spend the money however you wish, allowing you to live the retirement you’ve always dreamed of. We believe, after working hard all your life, you deserve to enjoy your home and your money to the full. If you want to ensure some of your estate is still preserved to pass on to loved ones, there are plans to help you to do that as well.

Here are some of the reasons more and more people are taking advantage of Equity Release:

Travelling or buying a holiday home – You can use Equity Release to explore the world, or you could even purchase your dream holiday retreat and have somewhere to rest and unwind.

Helping your children–You can release a lump sum for your children to use towards their first home, a new car, a wedding, or further education. Passing on some inheritance to your children can be even more rewarding when you’re alive to see it!

Paying off mortgage and debts–Retirement should be your time to relax and enjoy life without worrying about endless repayments. Equity Release can allow you to pay off your mortgage or debts, so you can spend your money on the things you really love.

Buying an investment property–Using Equity Release to purchase a Buy To Let property can be a smart move. You can off-set your interest payments using the rental income, build up an extra income, and pass on a profitable investment property to your loved ones.

Moving house–You can use Equity Release to move house, even to a more expensive property. If you’re hoping to move but you’re restricted by a lack of funds, Equity Release could be used to make up any shortfall and get you that dream home.

How does Equity Release work?

Typically you’ll receive a lump sum and the interest will roll-up into the loan, so you won’t have to pay any monthly repayments – the lender will only be paid the final balance when you die (or move into permanent care) and your house is sold. However, you can choose to pay back the interest and/or loan as you go to prevent the balance from compounding over time. Equity Release is very flexible and you can tailor a deal to suit your needs. Click on the button below to find out more about how Equity Release works and what options are available to you.

EQUITY RELEASE CALCULATOR

Find out how much cash you could release

It takes less than 60 seconds…

It’s completely free to chat with us and discuss your situation. We understand that due to coronavirus you may be nervous about meeting us in person, but the good news, is we can now carry out all our services remotely. We’ll explain everything you need to know during your free chat, so call us today or book your free consultation below.

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