However you picture your retirement, whether it's enjoying a few more holidays, pursuing your hobbies or simply maintaining your standard of living, equity release could be the answer.Get FREE equity release quote
With different schemes available and with an increasing number of lenders coming into the market, it's crucial you get expert advice.
Contact a qualified adviser who specialises in the provision of equity release advice to ensure you get all the information and guidance you need.Get FREE no obligation advice
People are retiring with smaller pension pots and often their income is not conducive to a good standard of living.
Using equity release can be a way or topping up a pension, or providing a lump sum to fund home improvements, a dream holiday, new car or it can be used to clear debts including any outstanding mortgage or supplement the costs of long term care.Get FREE equity release quote
Whether you are nearing retirement or planning for the future, it can't have escaped your attention that pensions have fallen short of satisfying the financial needs of the UK's retired population in recent years. While property values are no longer racing ahead as they did, most people find their home is worth considerably more than they paid for it. The result of these circumstances is that we have a nation of pensioners who may not have much cash, but a lot of money tied up in their property.
If this applies to you, or a member of your family, you may be frustrated that you appear to be financial comfortable on paper, but don't have much money in your pocket.
This is where equity release comes in. If you are aged 55 or over, some lenders will lend you a sum of money against the equity in your home. You can receive this either as a lump sum or a regular income, and remain living in your home as long as you like. Also, you don't have to worry about making repayments on the loan for the rest of your life.
Equity release could improve your quality of life during your later years, but it can be complicated and it is vital that you understand exactly what is involved. There are lots of providers in the UK, so it's important not to miss out on the best equity release deals. You can contact an adviser through this website for FREE no obligation advice.
A specialist equity release broker will research the whole market to find the most appropriate plan for you. Due to the sheer number of different products available, this is the only way you can be sure you're getting the best deal and best rates for your individual needs.
There are two main types equity release scheme: lifetime mortgages and home reversions.
Speak to one of our friendly regulated advisers. Our service can help you find out more and allow you to establish whether equity release could be right for you.
You'll get advice at to which equity release providers offer the best deals for you.
Release money from your home to spend as you want
Continue to live in your home for the rest of your life or as long as you choose
No monthly payments
No negative equity guarantee
Continue to benefit fully from any future rise in house prices
You can often borrow up to 30 to 40 per cent of the value of your home with a lifetime mortgage and the typical age of people doing so is 65 to 75.
With a home reversion you actually sell your home or part of it to a specialist company, which then allows you to live there until you die or go into care.You can generally sell up to 100 per cent of your home and people aged 75 or older can raise more cash, as their life expectancy is shorter. However, there are reversion plans around available to people aged as young as 50.
You should seek expert advice. As independent financial advisers who specialise in equity release, we will be able to take a look at your individual circumstances and explain what the best options are for you. Don't be tempted to make a decision in your own. Many people have regretted taking out an equity release plan because they can be very inflexible, which can cause problems if your circumstances change.
One size definitely does not fit all with equity release - it all depends on your individual needs and circumstances.
The Equity Release Council's SHIP (Safe Home Income Plans) standards ensures a safe, clear and understandable range of products from which recommendations can be made.
The industry body represents the vast majority of providers and the code of conduct means the market now conforms to standard principles that protect customers and encourage best practice across the field.