Equity Release Schemes
Equity release schemes are a range of products which allow homeowners aged 55+ and who have little or no mortgage, to safely release some equity from their property to improve their life without having to move.
If you are under 55 we may still be able to help you raise money from you home with an ordinary mortgage or re-mortgage. If you would like to discuss ordinary mortgages please complete our online enquiry form and indicate that you are interested in ordinary mortgages and we will call you back.
With a SHIP approved and Financial Services Authority regulated equity release scheme, you can unlock some of the value in your home whilst also:
The money raised from equity release schemes is tax free and can be used however you want, possibly to:
- Buy that new car.
- Pay for home improvements.
- Pay off debts.
- Help your children through the recession.
- Help your grandchildren buy their first home;
the choice is endless.
We would like to point out however, that all equity release products involve borrowing against, or selling all or part of your home, and may work out more expensive in the long term than downsizing to a smaller property, and may affect your entitlement to State benefits and grants. It will also reduce the amount of equity you can leave to beneficiaries.
Types of equity release schemes
Equity release schemes are either lifetime mortgages or home reversion plans. To find out more about each, click on either:
Which equity release scheme is right for me?
Whether equity release is right for you and which equity release scheme would be best, will depend on many factors including; your attitude to leaving equity for your beneficiaries, whether you can afford to make monthly repayments (see ordinary interest only lifetime mortgages), your age and the amount of money you need to raise.
The Equity Release Centre will help you choose the right equity release scheme to suit your specific needs and circumstances.
If you would like to arrange a free no obligation home consultation with an experienced equity release adviser, call us now on FREEPHONE 0800 970 4883 or complete our online enquiry form.
"Equity release" includes home reversion plans and lifetime mortgages. To understand the features and risks ask for a personalised illustration.