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WHY RELEASE EQUITY?

Retirement is a time to enjoy the benefits of our working life. It’s a time to enjoy extended holidays or doing the things that make us happy. We are all living longer these days which is no bad thing, but the downside is that we have to make our money last longer. In the past this has meant we have had to avoid doing the things we enjoy, simply to make the finances last. We can’t rely on our pensions providing enough to carry on the lifestyle we are used to.

Speak to one of our equity release advisers in Stockport at Release My Equity today!

Our equity release advisers in Stockport only endorse equity release schemes which are approved by ERC (Equity Release Council). The Equity Release Council is the trade body for the industry and its purpose is to make sure that all products are accessible and safe for all clients. They stress that products must include certain guarantees as a minimum. For example, it is a requirement that the products must give you, the borrower, right of tenure in your property for life. They are obliged to give the client the freedom and choice to move home, subject to certain criteria, and commit to the loan never exceeding the value of the property which it is secured against. To further safeguard applicants, any person taking out such a plan must obtain independent legal advice from their solicitor before continuing. Equity Release is now completely regulated by the financial watchdog, the Financial Conduct Authority. This guarantees that all equity release schemes we propose must adhere to the strict standards set by ERC to your safety. ERC approved schemes will ensure that you will:

· Will never fall into negative equity. This means you will never owe more than the value of your home and no debt will ever be left to your estate.
· Will remain in your property for life, provided the property remains your main residence.

As independent equity release advisers in Stockport for equity release mortgage schemes, Release My Equity can impartially advise you on the finer details of lifetime mortgages.

Use our Equity Release calculator to find out how much you could release from your property now. To discuss this further please give us a call on 01204 884545 or fill in the form on this page, and we’ll call you back.

Equity Release Calculator

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Why release equity from your home with an equity release mortgage?

Our equity release advisers in Stockport believe that retirement is a time when you should be able to enjoy the rewards of your working life. A time to slow down, relax and enjoy a leisurely pace of life, take extended holidays, and enjoy things that make us happy. We’re an ageing population, where people are living longer than they were 50 years ago. Whilst this is welcomed news and gives us longer to relish our retirement, the issue is that our money now must last us much longer.

State pensions undoubtedly don’t provide us with sufficient income to maintain the lifestyle we’d envisaged. This leaves many people with no choice but to put off the things they were waiting to do once they reached retirement, just to ensure their money lasts.

The good news is that by releasing money from your property with equity release mortgage schemes, you can enjoy retirement without any added financial pressure.

There are a number of plans which we can talk over with you to inform you what would be best suited to your needs.

The most common reasons that motivate people to release money from their home are listed below. This list isn’t exhaustive and you can use the money for anything you like. The choice is yours:

·         Home improvements e.g. conservatory, extensions, garden improvements
·         Clear mortgage debt, loans and credit cards
·         Purchase a holiday home or 2nd property
·         Gifts to your children for a house deposit
·         Maintain or improve your lifestyle income
·         Buy a new car or caravan
·         Reduce any potential inheritance tax liability
·         Afford life’s little luxuries
·         Pay for private medical care costs
·         Fund care in your home

These are just a few of the ways that people use funds tied up in their home to allow them to have the enhanced lifestyle they desire. How could the additional money help you?

Find out more, complete the form on this page or call 01204 884545 to book a free, no obligation initial consultation with Release My Equity today. One of our equity release advisers in Stockport can visit you in your home and will spend time with you to ensure you are fully informed regarding an equity release mortgage, empowering you to make the best decision for you and your future.

QUESTIONS & ANSWERS

Our equity release advisers in Stockport are here to answer any questions you may have such as:

.

Equity Release allows homeowners over the age of 55 to release the equity in their homes, but still allowing them to live there for as long as they wish. You can use the money for whatever purpose you like including home improvements, paying off debts, improving your lifestyle, financial security and funding care in the home.

Equity Release is available to homeowners aged 55 and over. Feel free to contact us on 01204 884545 if you would like further details. Alternatively use our Equity Release calculator.

Your home may qualify for a Lifetime Mortgage or a Home Reversion Plan providing it is of standard construction and you live in England or Wales. Lifetime Mortgages are available to residents of Scotland and Northern Ireland.

The amount of equity you can release will depend on the current value of your property and the age of the youngest applicant. Please use our Equity Release calculator to get an estimated figure of how much you could release from your home.

With the Lifetime Mortgage plan you will retain full ownership of your property. With the Home Reversion plan you effectively sell all or part of your home to the lender. We will spend time with you to help you decide which plan best suits your needs.

One of the main benefits of Equity Release is that you can remain living in your home until death or you both move out into a care facility. One of the guarantees that ERC provides (this is an independent organisation that specialises in equity release and sets strict standards to protect customers) is that you will never find yourself in a “negative equity” situation. This means that even if the interest accumulates up to the value of the property, you will never owe more than what your property is worth at the time of sale. We will discuss this in detail with you during our meeting.

With a Lifetime Mortgage you may be able to borrow more at a later date depending on lending criteria at the time. With a Home Reversion plan, providing you haven’t sold 100% of your home in the first instance you will likely be able to borrow more at a later date.

Equity Release is authorised and regulated by the Financial Conduct Authority for both Lifetime Mortgages and Home Reversion plans. All plans offered are regulated by ERC (Equity Release Council). This is an independent organisation that specialises in equity release and sets strict standards to protect customers. All ERC approved Equity Release plans come with a standard set of safety guarantees which include: – Stay in your property for life, as long as the property is your main residence. – Move your plan to another suitable property without any financial penalty, subject to criteria. – Guarantee you’ll never fall into negative equity. This means you will never owe more than the value of your home and no debt will ever be left to your estate.

We aim to offer you a solution that fits your personal circumstances from our panel of lenders. Even so, we recognise that equity release isn’t for everyone. Therefore we will take the time to listen to your needs and concerns and if we think it’s not right for you, we’ll tell you.

Equity Release could effect your family’s inheritance. With this in mind we take great care to ensure you are fully informed at every stage and you may wish to involve your family in the process so that they are aware of the implications. It is possible to guarantee a percentage of your inheritance. We will discuss this with you in detail.