Equity Mortgages

How can equity mortgages help?

Equity mortgages offer home owners the opportunity to raise cash from the value of their homes, whilst still allowing them to remain living in the house. Currently equity mortgages are proving ever more popular as a result of many people living in a property worth several hundred thousand pounds, whilst requiring a cash injection for a wide range of reasons.

A range of equity mortgages

As with many other financial products, there are a range of equity mortgages available. The main types of equity mortgage are a home income plan where property is mortgaged and the cash raised is used to purchase an annuity, a lifetime mortgage where property is mortgaged and interest is added to the balance owing, which is paid off when the property is sold or a home reversion scheme where property is sold to a financial institution in exchange for a lump sum or monthly income.

Equity mortgage advice from the FSA

The Financial Services Authority (FSA) suggests that before you consider taking out an equity mortgage you consult an independent financial adviser. Our in-house, fully independent financial advisers have a great deal of experience of advising clients in relation to equity mortgages and can advise if this is the best option for you. If you are interested in finding out more about equity mortgages, please contact us.

Equity mortgage benefits

Depending on the plan, the funds received as a result of an equity mortgage can be as a lump sum or regular income. This can be used to supplement income, help other family members or pay for care costs. In addition equity mortgages are also used in inheritance tax planning. To find out more about equity mortgages please contact us.

Free equity mortgage consultation

Our financial advisers will discuss the options provided by equity mortgages to allow you to come to a decision as to whether a scheme is right for you. To arrange your free consultation please >click here.