Equity Release Companies

There are a number of equity release companies that offer you the opportunity to release cash from your home. It works by either selling an equity release company part of your house (more commonly known as home reversion plans) and they get a proportion of the value when it is sold upon your death. Alternatively you can effect a lifetime mortgage against your home which is paid back upon death, together with any interest, when the house is sold. Advantages of equity release include:

Releasing tax-free value from your home
Convert wealth into retirement income
Still having the remaining value to leave for heirs
Being able to retain ownership of your house
Financial Services Authority regulation that offers peace of mind
Good quality plans will be a member of “SHIP” the Safe Home Income Plan code of practice.

If you are 55 or older, you are eligible for an equity release loan to use as you wish – either for a holiday, a new car, home improvements, sending the grandchildren to university or anything else you can think of. Fill in our simple form and an advisor will contact you to and help you decide whether equity release is suitable for you and help you compare equity release companies to make sure you get the best deal.

Lifetime mortgages as from October 2004 are regulated by the Financial Services Authority. A lifetime mortgage is a loan secured on your home. The loan and interest are normally repaid from the proceeds of the sale of your home when you die or move into long term care. With a home reversion plan you sell all or part of your home for cash. However you do not get the full market return for doing so.

The above equity release mortgage detail is for information purposes only as does not constitute financial advice under the Financial Services and Markets Act 2000. When considering any type of equity release product, it is important that you seek independent legal advice.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.