Equity Release - Your Safeguards
You will quite rightly want to be reassured that if you take out an equity release plan you will be able to live in your property for the rest of your life or lives.
All specialist equity release schemes offered by us which require no monthly repayments are either approved by Safe Home Income Plan organisation (S.H.I.P) or at least meet the same standards. SHIP was set up in 1991 by leading equity release providers and is dedicated to the protection of planholders and promotion of safe home income and equity release schemes.
Such schemes offer you the following safeguards:
- You retain the right to remain in your home for as long as you choose.
- You have the freedom to move to another property, without financial penalty.
- You are guaranteed a cash lump sum payment or a regular income.
- In the case of lifetime mortgages, you will never fall into negative equity, meaning that on death or moving into care, the loan plus interest can never exceed the value of your home even if house prices drop in the future.
For your added peace of mind, the marketing and advice you receive on lifetime mortgages and home reversion plans are now regulated by the Financial Services Authority (FSA) which means that we must follow strict guidelines and the consultant you see will have had to pass specific specialist equity release exams and possess all of the necessary qualifications to advise you on equity release.
To find out what the FSA say about equity release and to download their free guide click here.
"Equity release" includes home reversion plans and lifetime mortgages. To understand the features and risks ask for a personalised illustration.
Further information about equity release
Clicking on any of the following links will allow you to find out more about key information on releasing equity from your home.
What types of schemes are there | How much can I release | How long does it take | What costs will I incur | How to request a brochure | How to book an appointment