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Active Retirement

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Lifetime Mortgages - This is a lifetime mortgage. To understand the features and risks, ask for personalised illustration.

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Guide to Equity Release

CONTACT US
Ring  08458 381581 to speak to an advisor

Or feel free to fill in the form below.
Understanding Equity Release.

What types are there.

Are you eligible.

Safeguards.

Is it right for you.

Claiming Benefits.

How do I proceed.

Mike Richards (CeMAP CeRER), Director  of Mortgage Concepts Associates,  is qualified to give advice on both Lifetime Mortgage and Home Reversion schemes
Call Mike on 08458 381581 or complete the form above.
Understanding Equity Release.
What types are there.
Are you eligible.
Safeguards.
Is it right for you.
Claiming Benefits.
How do I proceed.
Pensioners are entitled to more than 20 different types of State Benefit, according to the Department of Work and Pensions - not all of them means-tested. So even wealthier retirees can be entitled to some State help. Ensuring a retired parent or relative receives ail the benefits to which they are entitled - including Pension Credit, disability benefits and Council Tax benefit - is the easiest way to boost retirement income, after all they have contributed to the State all their lives and are entitled to receive these benefits. Pension credit is still failing to reach nearly a third of those entitled to it and the government is nowhere near its target to reach 3.2m pensioner households by 2008*
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Some benefit claims can be backdated
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Even £5 extra a week adds up - over a 25 year retirement that's £6,500 (not including annual increases).
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Many benefits - including Attendance Allowance and Council Tax benefit - are not taxable.
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It is possible to avoid hikes in Council Tax bills - 50% of those entitled to claim, nearly 2.2 million pensioners, are failing to claim up to £1.4 billion in Council tax benefits.*
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Claiming benefits can be time consuming complicated, intrusive and there can be penalties if forms are completed incorrectly or fall foul of the rules. The Citizens' Advice Bureau can be a source of assistance in completing these forms and so can the family.
Benefits and Grants
Grants or other financial assistance
 Retired homeowners who need money to pay for essential repairs to their home, may find that there is a grant or other scheme that could help (www.adviceguide.org.uk).
This can eliminate the need to raise capital from other sources.
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Grants not only provide financial assistance. Many schemes also provide approved contractors to do the work - for example, to insulate a loft - so elderly homeowners do not have to worry about finding a reputable firm.
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It only takes a phone call or two to find out if a person qualifies. For example, to find out about free loft insulation for those receiving Pension Credit call the Home Heat Helpline on 0800 33 66 99.
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Not everyone qualifies - most grants are means-tested. However, some - for  example, £300 towards the provision or replacement of certain heating systems - are available to all over 65 regardless of income.**
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Support of some kind is required to qualify for some schemes.
*    Source: Age Concern                      **Source: The Guardian