Equity release or Lifetime Mortgages can enable you to release money tied up in your home by providing a loan secured against your property. It can mean you are able to extract cash from your home in the form of a lump sum or an additional income.
If you are considering equity release as a financial solution in later life, then getting independent and qualified advice could not be more important.
Whether you need to find additional sources of funds or boost your income, Equity release is a complicated area of mortgages and will not be suitable in every circumstance.
Clearly many older people have built up substantial equity in their property, especially as prices have risen over recent years but any amount you receive will depend on your age and your property’s value.
As with many aspects of financial planning there are distinct pros and cons to equity release.
Raising cash from your own home is a big decision and requires the support and guidance of later life financial advice and mortgage specialists. Our experienced equity release and mortgage advisers have knowledge of all equity release lenders and work alongside our Later Life Financial Advisers to ensure that equity release is the right thing for the client initially.
Our qualified later life team are members of the Society of Later Life Advisers and can provide clients with reassurance around important decisions surrounding equity release as they have specialist knowledge and understanding of financial matters in later life. Our team understands the often difficult decisions involved and sensitivities that can surround the family.
The team will look at any areas of eligibility for Local Authority grants and other state benefits and undertake a financial review.
- Our team will work with you and your family to:
- Provide independent financial advice on the best way to meet your financial requirements
- Analyse your eligibility to state benefits (or assist with applications where appropriate)
- Review your financial portfolio
- Provide inheritance tax advice
- Provide equity release advice
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.