Equity Release Loans
Equity release loans – the facts
An equity release loan is a financial product that allows you to realise the equity in your home as cash. The cash that is freed up through equity release loans can be paid to you as a lump sum or regular monthly income. Before considering an equity release loan the Financial Services Authority suggests that you consult an independent financial adviser.
Our in-house, fully independent financial advisers have a great deal of experience of advising on equity release loans and can advise if this is the best option for you. If you are interested in finding out more about equity release loans, please contact us by >Clicking here.
Equity release loan process
Equity release loans lend you a part of a home’s value in return for a share of the proceeds when the property is sold. Equity release loans are complicated products and it is therefore advisable to seek advice from an independent financial adviser.
Our fully regulated financial advisers discuss the entire process to investigate whether an equity release loan is suitable in your particular circumstances. As part of this process we take into account your complete financial circumstances to ensure that you are fully protected. To contact us regarding equity release loans, please >Click here.
Equity release loans – the benefits
Equity release loans can give a lump sum, a regular income or both. Money released from the value of your principle residence is free of tax, although if the cash is then invested there may be tax to pay on any income or growth. There is no requirement for you to move house or sell your home as a result of entering into an equity release loan agreement.
Equity release loans – tax advantages
Equity release loans can contribute to cutting inheritance tax bills. In 2009 / 10, inheritance tax thresholds apply to everything remaining in the estate valued in excess of £325,000. Importantly, the figure includes the value of your home. Equity release loans are often utilised to mitigate the amount of this inheritance tax. They could be used, for example, to give a child or grandchild the deposit to buy their own property.
Types of equity release loan
There are two different types of Equity Release schemes. A lifetime mortgage or home reversion plan. Our advisers are able to discuss the merits of both types of equity release plans and recommend the solution that best fits your needs. To find out more, please contact us by >Clicking here.
Free equity release loan consultation
Our advisers offer everyone a free consultation to discuss the merits of equity release loans to allow you to make a decision as to whether this is the right decision for you. To arrange a free consultation please >click here.