For most people one of their highest financial priorities in life is likely to have been ensuring the mortgage is fully paid off. But, on reaching retirement many people find that whilst their house is their greatest asset, they don’t have the capital they need to make life more comfortable and enjoyable. If you are a homeowner and over 55, Equity Release schemes (otherwise known as Lifetime Mortgages) can turn some of the value of your property into cash without the need to take out a traditional mortgage or moving.

If you are under 55 we can still help you with a more conventional Remortgage.

Equity Release schemes allow you to choose how much money you want to release. This is capped at a maximum which is dependent upon your age and property value. The money can be used for whatever you want, whether that is to replace your car, do home improvements or provide extra income, the choice is yours.

With increases in house prices over the past few years, and coupled with changes in family attitudes, this means people are discovering just how Equity Release schemes can improve their lives by:

Enhancing their Income
Making home improvements
Fulfilling lifetime aspirations
Potentially Reducing liabilities to Inheritance Tax
And so on…

All equity release products involve borrowing against, or selling all or part of your home, and may work out more expensive in the long term than downsizing to a smaller property, and may affect your entitlement to State benefits and grants. There may be more suitable methods of raising the funds you need.

We would be pleased to assess this before recommending a scheme for you. For more information and advice please contact us on 0121 744 4886 or click here <hyperlink to enquiry form>