Equity Release
Later Life Lending
Equity release is designed for the over 55s who wish to raise tax-free funds to either enhance their retirement by using the equity in their home, or refinancing an interest only mortgage which may be come due while continuing to live in your home. We do not offer Home Reversion Plans where you sell part or all of your property
Life Time Mortgages
Lifetime Mortgages, the most popular form of equity release, allow you to retain 100% ownership of your home. This type of mortgage is particularly advantageous as it does not typically require income or credit history checks but is instead based on your property’s market value and personal factors like age and health. This flexibility often enables you to borrow more as you age or if your health deteriorates, providing crucial financial relief when needed.
No Negative Equity
One of the safest aspects of opting for a Lifetime Mortgage is the ‘no negative equity’ guarantee. This ensures that neither you nor your estate will ever owe more than the value of your home, regardless of property market fluctuations or the amount accumulated through rolled-up interest. This guarantee protects your beneficiaries from any unforeseen financial burdens.
Tax-Free Funds
With a Lifetime Mortgage, you can release equity in the form of a lump sum or through a drawdown facility that lets you access smaller amounts over time as required. The funds are entirely tax-free and can be used for any purpose, providing significant financial flexibility. There’s no obligation to make repayments during your lifetime as long as you remain in your home, allowing you peace of mind and financial stability.
Inheritance Protection
Many plans offer the option to include ‘inheritance protection’, which guarantees that a predetermined percentage of your home’s value will be passed down to your heirs, regardless of how much interest accumulates. This feature allows you to safeguard a portion of your estate for future generations, providing you with control over your legacy while benefiting from the released equity during your lifetime.