Equity Release Mortgages

What are equity release mortgages?

Equity release 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 release 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.

Types of equity release mortgage

As with many other financial products, there are a range of equity release schemes available. The main types of equity release mortgages 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 release mortgage advice

The Financial Services Authority suggests that before you consider taking out an equity release mortgage you consult an independent financial adviser. Our in-house, fully independent financial advisers have a great deal of experience of this product and can advise if this is the best option for you. If you are interested in finding out more about equity release, please contact us by >clicking here.

The benefits of equity release mortgages

Equity release mortgages can provide a range of benefits. Depending on the plan, the funds received 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 release schemes are also used in inheritance tax planning. To find out more about equity release mortgages please contact us by >clicking here.

Free equity release mortgage consultation

Our financial advisers will discuss every element of equity release 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.