For some people the only asset available to draw from is the equity built up in their home. These people are asset rich but cash poor and have no other way of raising funds. For home owners who do not wish to move, downsize or have other assets to draw on, it is possible to release a value of capital from their property via an equity release scheme.
We only select lenders who comply with the SHIP (Safe Homes Income Plan) standards board and who are recognised by the Equity Release Council and can advise on the following two types of equity release schemes.
Lifetime mortgage – where a loan is secured upon your home, and the capital advanced plus interest becomes repayable when the home is sold.
To understand the features and risks of a lifetime mortgage please ask for a personalised illustration.
Reversion scheme – where you sell part of your home in return for a regular income or a cash lump sum or both.
CHECK THAT THIS MORTGAGE WILL MEET YOUR NEEDS IF YOU WANT TO MOVE OR SELL YOUR HOME OR YOU WANT YOUR FAMILY TO INHERIT IT. IF YOU ARE IN ANY DOUBT, SEEK INDEPENDENT ADVICE.
We charge a minimum fee of £1,500 when you apply for an equity relase product, up to a maximum of £5,000 for a more complex equity release application.
A no obligation meeting can be arranged at our expense to see if we can be of assistance in this area, and this can be at your home, office/work place or our office.