Equity release can be a means to access the equity from your home in the form of a lump sum or an additional income.
Clearly many older people have built up substantial equity in their property, especially as prices have risen over recent years. However, it doesn’t automatically follow that equity release is the right answer if they do find themselves ‘property rich and cash poor.’ Indeed, they may be looking to take equity from their property to support younger generations.
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 financial advice and mortgage experts.
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.