Equity Release will reduce the value of your estate and can affect your eligibility for means tested benefits.
For home-owners aged 55+ with a property and minimal mortgage, equity release offers a full remit of options to enjoy your property’s equity (cash) whilst still living in your home. For home owners considering this option, they can be assured of Samantha’s expertise as she is a member of the Equity Release Council and a ‘whole of market equity release’ adviser.
ALL plans offer a ‘NO NEGATIVE EQUITY GUARANTEE’.
If wanting to savour a dream holiday, purchase an exciting car, extend your property or to financially support children/grandchildren with home deposits, payment of weddings or to help alleviate monetary concerns about university fees, there are various equity release options. You have the wonderful opportunity to ascertain how you could enjoy the value of your property during your live years.
However, for many people, the realities of long-standing debts which have accumulated over the years, are now causing sleepless nights due to the worry of supporting these responsibilities when the only income might be a state pension. Samantha ensures there is a realistic approach to this issue and one which is viable for the long-term and reassures her clients of sustainability without worry and especially fear.
Dependent upon your circumstances and why you would like to release equity, it is essential to be fully aware of all the important points and in order to make an informed and appropriate decision.
Currently, there are two options available:
The repayment of the equity release is made when the last
borrower either goes into long-term care or passes away.
The benefits for Equity Release plans include:
- Removing the stress of significant debt which may feel insurmountable.
- Ability for home improvements or building work as may be required or necessary.
- Continued enjoyment and benefit from your home.
- Being able to enjoy and watch your family’s financial support.
You should only take out the amount you need, as any surplus cash left in a deposit account will earn you less than the interest being charged by the equity release provider.
In addition, the client may wish to include a guaranteed inheritance amount to ensure a certain percentage will definitely be passed to their beneficiaries such as family, close friends or perhaps charities. With the option to add the interest to the equity release plan or to make interest payments through the term, with potentially additional capital repayments (dependent upon agreement and criteria), facilitates flexibility which is increasing the lifetime mortgage’s popularity.
All Equity Release options necessitate a full, detailed and personal consultation with Samantha. She will explain every aspect of the criteria as required by the lender and the home owners’ responsibility. It is always recommended to have a close friend or family member present for any questions that may arise which will therefore facilitate an informed decision from multiple perspectives.
Equity Release plans are fully regulated by the Financial Conduct Authority and a Key Facts Illustration and Financial Report is prepared and discussed in detail before any contract or agreement is signed.
Do you ever wonder how yours and your family’s lives could potentially change -
If you had access to your property’s equity?...
For further information or to arrange a consultation, please contact Samantha direct on
01277 633 123