Over 60 Equity Release

If you want to boost your retirement income and you’re over 60, equity release is one option you could consider. It unlocks cash from your home by allowing you to borrow against its value. The lender does not get repaid until the house is sold upon death at which point the amount borrowed plus accrued interest is repaid. The money can be used for any purpose you choose, such as home improvements, a holiday, or just for making life more comfortable. Other features of over 60 equity release include:

The cash released from your home is tax-free
You retain ownership of your home
It is usually available to those aged 55 and older
Your heirs can inherit the remaining value of the property

Because no money is repaid until the house is sold, there are no monthly repayments. If you’re over 60, equity release could be for you but there are other options available to you in order to boost your income. Learn more about it and get free advice by filling out our simple form.

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.