Many people find that coping financially in retirement is difficult or that the extra things they would like to do such as special holidays or perhaps helping family is out of reach.
This is why more and more people are taking advantage of equity release plans and releasing some of the money held in their property to make their retirement years more pleasurable.
Plans could allow you to do the following:
- Release an initial amount followed by small amounts as and when needed
- Choose whether or not to make monthly interest payments
- Decide how much of your property that you wish to be guaranteed to be left to your beneficiaries
- Release larger sums if you suffer or have suffered from certain health conditions or are a smoker
- Have peace of mind as each plan comes with a ‘no negative equity’ guarantee
- Remain in your own home until you die or go into long-term care
- Spend the tax-free cash on anything you like such as holidays, home improvements or paying off debts
Plans are regulated by the Financial Conduct Authority and can only be advised upon by advisers who hold specific equity release qualifications so feel free to contact us and we will introduce you to the right person to help. They will recommended a plan that carries guarantees and features to ensure that you can release money from your home safely and securely and which will also be overseen by a solicitor.
Think carefully before securing other debts against your home.
A lifetime mortgage is a long term commitment which could accumulate interest and is secured against your home.
Equity release is not right for everyone and may reduce the value of your estate.
Lifetime mortgages are arranged by introduction only.