Equity Release

Equity Release Advice

Whatever your reason for boosting your finances in retirement, equity release could be the answer. You can release a tax-free lump sum from the wealth tied up in your home and you are free to use the money in any way you choose. What’s more, you have the peace of mind of staying in your home for life, with no monthly repayments required. Why not talk to one of our adviser’s today.

 

Tax treatment varies according to individual circumastnces and is subject to change

 

What you can do

  • You can release some of the equity from your home now and some in the future.
  • You can release some money against the value of your home for things such as home improvements or a holiday.
  • You can choose to set up an initial amount and at the same time set up a maximum loan to draw from in the future.
  • You can usually borrow from £10,000.

• Each time you make a withdrawal it will be at the appropriate interest rate at the time the withdrawal is taken and will be based on your age at that time.

Important points to bear in mind

  • Available to those aged 60-95.
  • If you release cash from your home it may reduce your right to state benefits now and in the future.
  • Remember that the loan plus interest can grow very quickly
  • If you release equity from your home it will reduce your estate when you die.
  • You may not be able to borrow more money against your home in the future.

A fee of £200 payable at the outset and £600 payable when you apply receive the mortgage. We may also charge to reflect travelling time and costs if meetings not held at our offices. We will also be paid commission from the lender.

 

01296 381 382

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