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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.

Our lifetime mortgage providers can release money tied up in your property.

A lifetime mortgage is a type of equity release scheme which allows you to have financial freedom by releasing equity from your home to spend entirely as you wish. Our lifetime mortgage providers are LV, Legal & General, Aviva, Hodge Lifetime, More2life, to name but a few.

We only recommend equity release schemes by lifetime mortgage providers which are approved by ERC (Equity Release Council). The Equity Release Council is the trade body for the industry and its focus is to make sure that all products are accessible and safe for all customers. They insist that products must include certain guarantees as a minimum. For example, products must give you, the borrower, right of tenure in their home for life. They must give the client the choice to move home, subject to certain criteria, and must guarantee the loan can never exceed the value of the property which it is secured against. To further safeguard applicants, any person taking out such a plan must obtain impartial legal advice from their solicitor before continuing. Equity Release is now fully regulated by the financial watchdog, the Financial Conduct Authority. This means that every equity release scheme we propose must adhere to the strict standards set by ERC to your safety. ERC approved schemes will guarantee that you:

• Will stay in your property for life, if the property remains your primary residence.
• Will never descend into negative equity. This means you will not owe more than the value of your home and no debt will be left to your estate.

Release My Equity have a panel of lifetime mortgage providers, therefore; we can impartially advise you on the greater details of lifetime mortgages and equity release.

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

Equity Release Calculator

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Why release equity from your home with a lifetime mortgage?

Release My Equity and the lifetime mortgage providers we use, believe that retirement is a time when you should be able to enjoy the returns of your working life. A time to slow down to a laidback pace of life, relax, enjoy 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 good news and gives us longer to relish our retirement, the predominant concern is that our money now must last much longer.

State pensions don’t provide us with adequate income to maintain the lifestyle we’ve become accustomed too. 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 with the help from Release My Equity and our lifetime mortgage providers, you can relish retirement without any added financial pressure.

A lifetime mortgage lets you to have financial freedom by releasing equity from your property to use as you wish.

There are several plans, from various lifetime mortgage providers, which we can talk over with you to advise you what would be best suited to your needs. The most common reasons that prompt people to release money from their home is listed below. This list isn’t exhaustive and you can use the money for anything you desire. The choice is yours:

• Improve or maintain your lifestyle income
• Afford some of life’s little luxuries
• Clear mortgage debt, and other debt such as loans and credit cards
• Purchase a holiday home or 2nd property
• Buy a caravan or a new car
• Reduce any impending inheritance tax liability
• Gifts to your children for a house deposit
• Home improvements e.g. conservatory, landscaping, extensions
• Pay for private medical care costs
• Fund care in your home

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

Find out more from Release My Equity and our approved ERC lifetime mortgage providers. Complete the form on this page or call 01204 884545 to book a free, no obligation initial consultation with Release My Equity today. We can visit you in your home and will spend time with you to ensure you are fully educated, enabling you to make the best decision for your future.

QUESTIONS & ANSWERS

Find out more from Release My Equity and our approved ERC lifetime mortgage providers. Complete the form on this page or call 01204 884545 to book a free, no obligation initial consultation with Release My Equity today. We can visit you in your home and will spend time with you to ensure you are fully educated, enabling you to make the best decision for your future.

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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.