Why should you choose equity release?

You may be wondering why equity release could be the option for you. Whether you’re looking to increase your available funds for a dream holiday, home improvements or to help a family member with their school or university fees, equity release could be the solution you’ve been searching for.

Why equity release?

Equity release could help you get the things you want out of later life. Your home could hold the key to improving your quality of life or breaking down financial barriers facing you or your loved ones.

In times where finances are even tighter, it could be the ideal solution to help you with your regular monthly or quarterly bills too, allowing you to rest easy knowing they will be taken care of.

You may also be looking to help some of your nearest and dearest in their time of need – the equity in your home could result in the help they’re searching for.

By speaking to an expert equity release adviser, you could discover whether equity release could give you the freedom to do what matters most to you and your family.

What are the benefits of equity release?

Equity release plans are regulated by the Financial Conduct Authority (FCA) and offer a safe way to unlock some of the tax-free funds that may be tied up in your property. Whether you want to take this money as a one off lump sum or in instalments, after an initial release, will help to determine which plan you choose.

There are many reasons why you may decide to explore equity release.

It could be to pay off your remaining mortgage or any existing debts to free up money each month. You might have your eye on home improvements or a holiday, but require some extra funds before putting plans in place.

Another great benefit of equity release is that you’ll get to remain in your own home. There will be no need to downsize; you will be able to retire and live comfortably in the house without the hassle of packing and moving!

If you choose a lifetime mortgage, plans recommended by The Equity Release Experts meet the Equity Release Council standards and come with the ‘no negative equity’ guarantee. This protects you and makes sure your family aren’t left in debt from your lifetime mortgage when you pass away.

With so many features available with equity release schemes, why not speak to one of our advisers today to discover if it’s the right option for you or use our equity release calculator to see just how much you could have available.

Is equity release a good idea?

As with anything, there are some drawbacks with equity release. We understand that equity release isn’t for everyone, and we’ll never say it’s the right option for you unless we’re certain.

A lifetime mortgage, the most popular type of equity release, is a loan secured against your property. With a lifetime mortgage there are typically no monthly repayments to make as the loan, plus roll up interest, is repaid when the plan comes to an end. Usually, that’s when you, or the last-remaining applicant, either passes away or moves into long-term care. With a lifetime mortgage you’ll still retain full ownership of your home. You should always think carefully before securing a loan against your home.  

Equity release will reduce the value of your estate and may affect your entitlement to means tested benefits.

When you take advice from one of our expert equity release advisers, it’s vital that you explore the different equity release plans available to decide which is most suitabe for you and your circumstances.

You can discuss factors such as interest rates and the roll up of interest, known as compound interest, as well as set-up fees and other charges you may incur.

We pride ourselves on giving you all the information you need in a completely transparent way. This means there will not be any surprises down the line.

Come to the experts for your equity release needs

If you’re ready to find out more about equity release, our friendly and experienced team can be reached via our quick contact form or on 0800 188 4812. Lines are open Monday-Friday 9am-5.30pm.

Remember, it is crucial that you get advice before you take out any equity release product. If you want to learn more about equity release before picking up the phone, our guide is free to download and contains further information.

Unless you decide to go ahead with a plan, our service is completely free of charge, as our fixed advice fee of £1,499 is only payable on completion of a plan.