The Benefits of an Equity Release Plan

Most plans now feature much more flexibility than in the past, here are just some of the features:

Lump sum of tax-free money
Continue to live in your own home (Lifetime mortgage only)
Choose to protect an inheritance
Choose to have no monthly repayments
Make repayments if you want to
Add a cash reserve facility
Maintain 100% home ownership
You can spend the money as you wish
Ability to still move home in the future
No-negative-equity guarantee feature
Low rates and you can fix for life
Higher cash release available

You could continue to own your home so you will benefit fully from any future increase in its value. There are also guarantees with some plans to make sure you never pass on any debt, or ‘negative equity’, in your estate and you can choose a plan that has an option to be ‘portable’. This means you could move home in the future

A life time mortgage allows you to take out a mortgage on your home which does not need to be repaid until you either die or go into long term care.

How does it work?

The amount of equity that you can release varies depending on age and the property value and has nothing to do with credit rating or income. They are becoming more and more popular with people over the age of 55 as, unlike traditional equity release schemes they allow you to retain full control and ownership of your home. For a free initial chat or meeting at your home to discuss the options available then either call us or request a call back below.

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