Equity release puts money in your hand when you need it. You can pay for holidays, a car or for care. You can fund a deposit for a family member or even use the loan to reduce the value of your estate for inheritence tax.
The equity (value) you have in your home is its open market value less any other mortgage or other debt secured against it. Equity release is a way of extracting physical cash from the value of your home without having to move out of it.
We can help you release the cash tied up in your home by raising money:
- on your main home, or
- on a holiday or second home perhaps
- or a buy to let property – even if it is let on a shorthold tenancy…
Borrowing money to fund lifestyle is a big step and one that you should always seek advice on.
There are two types of product in this market:
- lifetime mortgages
- home reversion plans
Make sure you understand the difference and get advice on which is best for you.
We only work with companies that subscribe to the safe home income plan guarantee supported by the Equity Release Council. Follow this link for further information http://www.ship-ltd.org/
We are also members of the Equity Release Club.
For advising you, sourcing an appropriate product from the whole of the market, processing the case with the lender and liaising with your lawyer we normally charge a fee of £475. We will also receive introductory commission from the lender. This would come out of the lenders’ standard product charges.
To fully understand the features and risks of an equity release product ask for a personalised illustration and our expert advice.
M.D Simon Webster hosted a radio show on this topic. Check it out here:
Contact Us for further advice on equity release or call Simon on 01233 722922.
Follow this link to download our free Equity Release Calculator: Equity Release Calculator