Equity Release Mortgage Brokers
Equity Release Mortgage Brokers
There are a number of equity release mortgage brokers which provide varying offers, such as different interest rates, so that you can compare a number of deals before deciding which one to go with. Equity release allows you to borrow against the value of your home, but unlike a standard mortgage, it is not repaid until the house is sold upon death and the lender takes their cut plus interest. Advantages of equity release mortgages include:
- Unlocking tax-free cash from your home
- No need to move house to boost retirement income
- Retain ownership of your home
- Leave remaining value of the house to your heirs
- The capital can be used for any purpose you choose
To ensure you make an educated decision, compare the offers available. Fill in our short form and an advisor will contact you to talk about your options and see if equity release is the right step for you. If yes, then your advisor can take you through all the different schemes on the market and help you find the right deal for you.
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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.
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