Equity Release In Kent
Compare Equity Release Schemes For Home Owners In Kent
How your figure is calculated?
The primary factors used to determine the amount of cash you can raise with equity release are:
- Property value – A higher value property will result in a higher equity release calculation
- Age of youngest applicant – If you are applying as a couple the amount of equity you can release will be calculated based on the youngest applicant
- FREE initial consultation for UK Homeowners aged 55 plus
- Full assessment of your circumstances on whether Equity Release is right for you.
- Specialist advice for homeowners on equity release scheme options.
- High level of personal service.
Things to consider
Key Advice, specialist advisers search the whole market to find the right equity release plan for you. They’ll explain all the options available and that taking a plan reduces the value of your estate and may affect any means-tested benefits you’re eligible for.
You have to get specialist advice before releasing equity; it’s the only way to do it. The initial consultation is free with no obligation to proceed. If you decide to go ahead with an equity release plan our advice fee, usually 1.99% of the amount released, subject to a minimum of £1,499, is payable only on completion.
With a lifetime mortgage, the most popular form of equity release, you’ll still own your home. As with any kind of mortgage, it’s a loan secured against your home. All equity release plans we recommend have a no negative equity guarantee, which means you’ll never owe more than the value of your home.
Equity Release Options for Property Owners in Kent
If you are nearing retirement age, you may be thinking about how to supplement your income to ensure that you make the most out of your retirement.
For many people in Kent, an equity release could be an appropriate option for those who wish to raise funds for their retirement years. Using this agreement, equity that is stored in your property can be ‘unlocked’ and used as a secondary source of income, or converted into a cash lump sum.
If you are searching for an equity release quote, there are two sorts of policy available. The following is a brief explanation of each type:
This involves you taking out a loan against the value of your property. You would remain the owner of your house up until you either die or move in to a care home permanently. After this, your house would then be sold and the loan would be paid off with the proceeds.
Home Reversion Schemes
These agreements involve you selling a portion, or all of, your property to a reversion company. You would therefore no longer own the house outright, but would be allowed to live there as a tenant up until your death or until you move in to a care home. You could be required to pay rent to the reversion company, but this may not always be necessary. Upon your death or your moving to a care home, the property would be sold, with the reversion scheme taking their share of the sale price.
There are many different types of equity release deals that could be available to you, subject to your individual requirements. It is therefore strongly advisable that, if you are interested in equity release in Kent, you carefully consider a number of the options available to you, as equity release schemes tend to be irreversible.
If you have a property in Kent we could help you to locate the most competitive equity release quotes. Please see below for further information on this.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Equity release may affect your entitlement to state benefits and will reduce the value of your estate. It may involve a lifetime mortgage or home reversion plan. All content set out in this website is provided for information only and should not be considered as advice. It is strongly recommended that you seek advice of a qualified, independent financial advisor before making any decisions to take out an equity release product.
Homeowners access record £1 billion in equity release in the last three months