Equity Release

Many simply don’t want to sell the family home, with the emotional attachment, comfortable living, a settled environment and established local network. Further, poor selling conditions and a lack of supply of property to move to make this simply unappealing, if not impossible. Lastly the cost and hassle factor are enormous. All of these can be overcome via equity release. However, if you chose to (or need to) downsize later in life your options on suitable properties may be limited as a result of the loan and accrued interest.

It’s not news that it’s very challenging for the young to get their first step on the property ladder nor that private schooling remains very popular. A Lifetime Mortgage enables funds to be released either for a deposit on a property or school fees for children or grandchildren.

Many find their wealth tied up in the equity in their property. Unless through a dramatic downsizing operation, this can create a sense of being asset rich: cash poor.

Whilst releasing funds from your property will potentially reduce the size of a beneficiary’s inheritance, most beneficiaries would wish their family to enjoy a prosperous retirement.

Why not? Whether it is to escape the UK winter climate, a city at for more cosmopolitan living or a country/seaside retreat, many release funds tied up in their main residence to expand their horizons in retirement.

In addition to all of these reasons, many people look to raise additional funds to enhance their current property and have time to enjoy the bene ts of those home improvements.

Replacing an old residential mortgage with a Lifetime Mortgage can extend the term beyond traditional limits of age 65 / 70. Further, it provides a solution to interest only mortgages, loans and other debts that cannot be repaid and still could allow capacity for further funds to be released for other purposes mentioned here.

Although consolidating debts in a Lifetime Mortgage may reduce the regular outgoings to make them more affordable, it is likely to mean that you will be incurring interest on the loans for a longer term and are likely to pay a greater amount over the term of the debt – particularly if you choose to roll- up the interest on the loan

Contact us today to discuss purchasing a residential property