Equity Release

It has become more and more difficult to plan for retirement so as to ensure that you have enough money to live comfortably when you leave work. Equity release can help you to:

  • Gain access to money tied up in your house
  • Retire earlier without having to wait for your pension
  • Cover the rising cost of living
  • Clear a debt
  • Provide early inheritance to loved ones
  • Avoid an interest only mortgage

 

  • Carolyn Tilly
      • 01429 405091
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  • Martin  Brown
      • 01429 405066
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  • Nicola Dalzell
      • 01642 356407
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  • Helen Dexter
      • 01833 638326
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  • Annaliese Barber
      • 01429 405079
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  • Andrea Bradford
      • 01429 405085
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  • Joanne Tillotson
      • 01642 356422
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How Does It Work?

There are a number of different types of schemes. Such as:

Lifetime Mortgages

A loan secured for life on the house which is not repayable if you continue to reside there unless you want to sell. No repayments are made and interest accumulates and is usually repaid following death.  The amount owed gets larger as time passes.

Home Reversion Plans

The bank or insurance company buys a share of the house in return for a cash sum paid to you on the term that you can continue to live in the house until your death. This means that your estate is only entitled to a proportion of the growth in the house value at the date of your death.

Home Income Plans

A mortgage is taken out and used to buy an annuity. This provides an income for life from which interest is paid.  The capital of the mortgage is repaid on sale or death.

For help and advice on any of these schemes, please contact Andrew Steel.