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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.
Are You Eligible?
Equity Release allows homeowners over the age of 55 to release the equity in their homes, but still allowing them to live there for as long as they wish.
To be eligible to take out an Equity Release plan you need to be:
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 Aged between 55 and 90.
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Own a home worth at least £50,000. (depending on provider)
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Want to  raise at least £10,000. (depending on provider)
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Mortgage Free (a small mortgage can however be repaid by the equity  you release).
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The owner of a freehold property or leasehold property with more than 75 years to run.
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Living within your property without tenants or others with rights under the Rent Act.
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Living in a home that is in good repair (however an equity release plan could assist you to carryout essential repairs to your property)
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Please refer to the individual product leaflet for specific details of each equity release plan.

 Please note that the criteria will vary between providers and you should contact your Independent Mortgage Broker for advice on 08458 381581 or complete the enquiry form.
Points to consider when taking out an equity release plan?
There are several points to consider carefully before taking out an equity release plan. These include:
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The cost of compounded interest over a long period.
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The impact on any inheritance you may wish to leave.
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The effect on any welfare or tax benefits you currently receive or may be entitled to receive in future.
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There may be alternative ways of releasing cash e.g. downsizing or obtaining grants for essential repairs or improvements.
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Participation in an equity release plan should be viewed as long-term.