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Equity release adviceEquity release advice and later life lending options
Many people find themselves asset rich and cash poor, and house prices have risen a long way over the past decade. Equity release lets homeowners over the age of 55 free up money from their properties. If that might be you, I will tell you honestly whether it is the right option.
- Member of the Equity Release Council
- SOLLA Later Life Lending Advice Standard
- Authorised and regulated by the FCA, FRN 981845
What is equity release?
The equity in your property is the market value of your home, less any mortgage or other finance or loans secured against it. Equity release allows homeowners to unlock this value and release it as a tax-free sum of money or regular smaller amounts, using a drawdown facility.
Unlike a traditional mortgage, with equity release you do not have to make monthly payments unless you choose to do so. The loan's value, plus any accumulated interest, is paid off when the last borrower moves into long-term care or dies. New products encourage payments too, which enables larger borrowing and better interest rates. By making payments you can ensure your loved ones receive a bigger inheritance than expected.
You must seek independent equity release advice if you are considering whether equity release is the right choice for you. If you think that releasing equity is an attractive option, I can search across the whole of the market to find the right product for you.
Why do people choose to release equity?
There are many reasons people choose to release equity, and equity can be used for whatever you wish. Typical reasons include:
- To pay off existing debts or a residential mortgage
- To fund home improvements or adapt your home so you can continue living there
- To add to your retirement income for day-to-day living costs
- To help children or grandchildren with a 'living inheritance', usually for housing costs, a wedding or education
- To go on holiday or travel more
- To fund care at home or private medical bills
What are the different types of equity release?
There are two main types of equity release mortgage: home reversion plans and lifetime mortgages. The Financial Conduct Authority regulates both. The vast majority of the market now centres on lifetime mortgages, which have evolved over the years and now offer a safe and versatile way to access money tied up in your home. I do not advise on home reversion, as it does not fit with my ethos. I also advise on retirement interest-only mortgages, which are available from age 50; a dedicated page is coming, and in the meantime you can ask me about them directly.
Lifetime mortgages
The most popular type of equity release plan. A mortgage secured against your property whilst you keep full ownership of your home, with no monthly repayments unless you choose to make them.
Read moreWills and lasting power of attorney
Your wishes in death and in life. A properly drafted will and lasting powers of attorney, arranged together from the comfort of your own home.
Read moreIs equity release right for you?
Equity release is not always the right option for everyone. I will discuss the implications for any inheritance, your eligibility for means-tested benefits, and your tax position. There are hundreds of equity release products available on the market, and I can research them all to find the right one for you. If I believe that equity release is not the right choice, I will say this.
How much could you release from your home?
Three quick questions and an indicative figure straight away. No name, phone number or email needed to see it.
Access to the whole equity release market, and a carefully selected panel of reputable providers
Your questions answered
A few of the questions I am asked most often. The full list is on the FAQs page.
Are lifetime mortgages safe?
Can I take out equity release if I have not paid off my mortgage?
Am I eligible for equity release?
If I release equity, can I remain living in my home?
Will my family end up in debt because of equity release?
What clients say about Trusted Equity Release
"Many companies take advantage of the elderly, but this was clearly not the case with Jeremy. He thoroughly explained all options and even assisted my gran with completing complex application forms. Within a week of the initial visit, my gran secured funding from a reputable lender."
"Excellent, professional and friendly service, we highly recommend Jeremy. He was very quick to reply to our enquiry and kept us posted at all times during the process. Thanks so much for all your help."
"Would not hesitate to recommend this Company. Professional, honest and always available to help at any point of the procedure. Would absolutely recommend them to anyone needing their services."
Book your free initial consultation today.
Pick up the phone and speak to Jeremy directly. If equity release is not the right choice, I will say so.
07768 972861 Or try the quick calculator