Equity Release Explained
You may have heard this term for several things such as remortgaging your house or selling and renting back your house, but for these purposes equity release is the phrase used to describe the regulated plans called Lifetime Mortgages and Home Reversion plans.
Both are regulated by the Financial Services Authority and are available to help people release the equity they have tied up in their homes without them having to move.
Regulated equity release has increased in popularity over the years and the flexibility and safeguards which are built into equity release plans have enabled thousands of home owners to tap safely into their biggest asset, their home, without having to worry about making monthly repayments.
If you are thinking of taking out an equity release plan then you need to find out as much as you can about your options and weigh up the advantages and disadvantages fully before you decide if equity release is right for you. Contact us today and take the first step towards releasing the capital you require.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Your initial consultation is free and without obligation. There maybe a charge a charge on submission of a full application, the precise amount will depend on your circumstances, typically this will be £299 for purchases and £199 for remortgages. Alternatively you could receive the commission from the lender and pay us a fee of 1% of the loan amount
Equity Release is a lifetime mortgage or home reversion scheme. To understand the features and risks, ask for a personalised illustration.
An equity release plan will reduce the value of your estate, will not be suitable for everyone and may affect your entitlement to state benefit.
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