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Equity Release

Would you like to remain in your home
during your retirement?
Do you want to release tax free cash from your home?

What is Equity Release?

Equity release is a way of releasing the wealth that may be tied up in your home. It can provide you with a tax free cash lump sum without the need to move from your home. Equity release products, allow you to either borrow against the value of your home or sell all or part of it for a regular monthly income, a lump sum, or the facility to get at equity as and when you like, or a combination of these options. Equity release products are usually available to you if you are aged 55 or over and are a homeowner.

Equity release is not necessarily suitable for everyone, as equity release specialists we are qualified to advise you on these products before you make a decision. It's a good idea to involve your family in the decision-making process because releasing money from the home will affect the amount that you will be able to leave in inheritance.

What types of equity release are there?

There are two main types of equity release plan on the market, Lifetime Mortgages and Home Reversion Plans, both are regulated by the FCA – Financial Conduct Authority.

Equity release plans are not right for everyone and it is important that you fully consider your options and seek our advice before making a decision. It is also important that, if you do decide to use an equity release product, you choose one that meets your needs.

Can I release equity from my home if I have not yet paid off my mortgage?

If you still have an outstanding mortgage on your property you will need to pay it off in full, either by using some of the proceeds from the equity you release or from other funds. Once that is done, the rest of the money you release can be spent as you wish.

Is equity release right for me?

Remember that taking an equity release plan is generally a long term option. However, there are flexible plans available that may fit your varying needs and some will allow you to repay in the future without any penalties. We can help you to choose the plan that is right for you.

Common Reasons why people choose Equity Release:

• May require cash to spend on improving or adapting their home for their current needs
• May require cash to make their retirement more comfortable or improve their standard of living
• May wish to treat themselves to a holiday
• May wish to help family or friends with financial costs or university fees

How do I go about setting up an equity release plan?

You should always seek professional advice to set up an equity release plan. It is important to explore all the options that could meet your financial needs before choosing an equity release plan.

TO UNDERSTAND THE FEATURES AND RISKS ASK FOR A PERSONALISED ILLUSTRATION.