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Equity Release
Equity Release allows individuals aged 55 & over to release money from the property they live in without having to make any monthly payments. Instead of making payments interest is rolled up which means it is added to the loan.
Voluntary monthly payments are however allowed on many schemes to allow further flexibility should it be required.
People who take out a lifetime mortgage retain full ownership of their home.
Typically the loan is repaid by the sale of the property on death of the remaining owner or moving into long term care.
The Equity Release market continues to evolve allowing customers greater choice & control of their future plans.
As well as optional interest payments which can attract a discount on some schemes, there are also Downsizing options which allow you to move home without incurring any penalties. {Subject to any new property being suitable for mortgage purposes.}
Independent whole of market advice ensures we find you the right product for your current individual circumstances and your future plans.
We are proud to be a member of the Equity Release Council and uphold their standards.
The Council represents a customer-led market with rigorous Standards and safeguards that it’s members must adhere to.
“The key drivers for a later life market are consistent. People are living longer and retirement finances are increasingly squeezed as generous financial salary pensions edge further to extinction. Many older households are already facing a situation where their expenses outweigh their disposal income, which makes access to property wealth an important pillar to support later life living standards.”
David Burrowes
Chair, Equity Release Council