Personable equity release brokers in Wisbech, Cambridgeshire
Would you like to fund a new car or holiday? Are you thinking of ways to enjoy a better standard of living? Trusted Equity Release provides homeowners in Wisbech or Leverington with advice about equity release and later-life mortgages.
Lifetime mortgages in Wisbech
Equity release unlocks the value of your home in exchange for tax-free money. Hundreds of products are available, and our independent specialists can search the whole market to find the right product to suit your needs. Our team take time to understand your circumstances so we can advise you on whether we think equity release is the right option.
Our team of experienced and friendly equity release advisers will help you understand what is involved in equity release so you can make an informed decision. We also have access to other financial products, including residential and retirement interest-only mortgages. We can meet with you to review all the available choices.
- Free initial consultation
- Face-to-face meetings at your home or phone/video consultations
- Personal, friendly and bespoke service
- Whole of the market research - we are not tied to any equity release providers
- Support at every stage of the process
We are members of the Equity Release Council (ERC), which was established to promote high standards of conduct and practice. We are fully qualified and FCA-regulated and follow the ERC's best practice guidelines. This includes only recommending products with a no-negative equity guarantee. This prevents you from ever owing more than your home is worth, regardless of any change in market conditions.
To find out more, please call our local equity release company on 01354 688 018.
Are you considering releasing equity in Wisbech, PE13 or PE14?
Wisbech is known for being the capital of the Fens and for its stunning Georgian architecture, particularly for the row of houses along the North Brink. This includes the National Trust property of Peckover House.
Wisbech is a thriving market town, and property prices have sharply increased in recent years. Property site Rightmove states that in 2021 the average property price was over £230,000. The majority of property sales during the previous year were detached homes that fetched an average of £293,000, whilst semi-detached houses sold for an average of £197,000. Terraced homes sold for an average of £150,000. Overall, prices were up 6 per cent on 2020 and 25 per cent on 2019.
How do Lifetime Mortgages in Wisbech or Leverington work?
The most common type of equity release plan in Wisbech or Leverington is a lifetime mortgage.
A lifetime mortgage works very similarly to a regular mortgage. However, rather than having a fixed term by which you have repaid the debt, you do not repay the loan until you move into long-term care or pass away. When this happens, your home is sold, and the amount you owe your equity release provider is repaid from the proceeds of the sale.
There are different types of equity release mortgages available. A drawdown lifetime mortgage allows you to take a small initial lump sum of money paid tax-free and can be spent as you wish. At this time, a cash reserve is set up for an amount of your choice, subject to your provider. You do not have to use it, and most providers do not charge anything if you do not. As and when you need this money, it is released, and then you pay interest on the amount of money which can be far more cost-effective than traditional schemes.
There are options to pay the interest monthly to prevent the borrowed amount from growing over time. You can also choose to ringfence some money to be used as an inheritance by your beneficiaries.
A home reversion plan is the other type of equity release plan. With a lifetime mortgage, you borrow against the cost of your home, but with a home reversion plan, you can sell all or part of your home to a provider for less than the market value. These type of plans account for less than 1% of Equity Release plans.
Book an equity release consultation with Jeremy. No obligation consultations can be held in the comfort of your own home in any of the following locations:-
- Coldham
- Elm
- Emneth
- Gedney Hill
- Godney Hill
- Gorfield
- Guyhirn
- Guyhirne
- Marshland
- Murrow
- Newton
- Outwell
- Sutton Bridge
- Sutton Saint James
- Terrington Saint John
- Tilney
- Tilney Saint Lawrence
- Tydd
- Tydd Saint Giles
- Tydd Saint Mary
- Upwell
- Walpole
- Walpole Saint Andrew
- Walpole Saint Peter
- Walsoken
- Walton
- West Walton
- Wisbech
- Wisbech Saint Mary
Reasons for over 55 home loans in Wisbech
Did you know that in the first half of 2021, the ERC announced that over 35,000 customers unlocked more than £2.3 billion of property wealth between them? As a result, equity release is an increasingly popular option for older borrowers in Wisbech. But what are the main reasons it might be the right choice for you?
One of the top reasons people consider equity release is to clear their existing mortgage and to help fund their retirement. As homeowners have built up significant equity as house prices have increased. This frees them from the burden of monthly repayments and means they can boost their retirement income.
Another reason to release equity is to fund home and garden improvements, so people can stay in their homes for life and improve their quality of life while there.
Equity release can boost income for everyday costs and provide a cash cushion for later life. Many people choose equity release for inheritance gifts and planning purposes. This means they can offer financial help to family whilst they still have the opportunity to see them enjoy it.
Please see our FAQs.
To speak to our qualified equity release advisers in Wisbech, call our local equity release company
Call us now to discuss equity release and retirement mortgages in Wisbech. We can be reached on 01354 688 018 or 07768 972 861 or via email at jeremy@trustedequityrelease.co.uk
We can also provide advice about lifetime mortgages in Downham Market.
