What is Equity Release

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Equity release can be used for:

  • To purchase a property
  • Repaying existing debts
  • Home Improvements
  • Buy / replace a car
  • Holiday
  • Buy a second property
  • School / University fees
  • Children / Grandchildren property purchase
  • Gifts to Family
  • Residential or Hospital care
What is equity release

Equity release is not right for everyone, and there are alternatives that you can consider, including:

  • State benefits and grants
  • Home reversion schemes (sell all or part of your home)
  • Sell up and move to a smaller property / rent / move in with family
  • Help from family
  • Use existing assets (e.g. investments)
  • Rent-a-room
  • Re-structure finances (budgeting)
  • Re-mortgage
  • Continue working
Equity release

To qualify for equity release, you need to meet the below criteria:

  • You need to own your own property
  • All those on the mortgage  title deeds must be aged 55 or over
  • Any outstanding mortgage has to be paid off first (some lenders will pay off your existing mortgage as part of the equity release plan)
Equity qualification

REMEMBER

Equity release isn’t for everyone – I would be delighted to help you decide whether it might be right for you. If it is, I will identify your priorities and recommend the most suitable plan to meet your circumstances. But most importantly, if it is not, I will explain why it is not right for you.

Why not give me a call for a friendly no-obligation chat.

Please do not hesitate to contact me in the first instance on 020 8462 0497 or 07966 299247 or email robert.white@mortgagelifetime.com

Contact me