If you're over the age of 55, Equity Release could offer you a way to use the value of your home to raise money, allowing you to tap into the wealth you've accumulated in your property without the hassle of having to move from your family home.
You can use equity release for different reasons, such as to generate additional income, clear debts, provide lifetime gifts to relatives, for home improvements or to fund long term care. You probably have your own ideas - there are no restrictions on how you use the funds. However, there are certain conditions that you must meet before taking out an equity release plan.
Generating income from your home is a big decision and we’ll help you understand the financial consequences, such as the impact on state benefits, before you make any decisions. We’ll also guide you through the process, and if possible we’ll involve your close family members to make sure you have the support you need to make the right choice.
A LIFETIME MORTGAGE COULD REDUCE THE VALUE OF THE BORROWER’S ESTATE AND MAY LEAVE NOTHING TO PASS ON AS AN INHERITANCE. TO UNDERSTAND THE FEATURES AND RISKS OF A LIFETIME MORTGAGE, ASK FOR A PERSONALISED ILLUSTRATION.
THERE WILL BE A FEE FOR LIFETIME MORTGAGE ADVICE. THE PRECISE AMOUNT WILL DEPEND UPON YOUR CIRCUMSTANCES, BUT WE ESTIMATE IT WILL BE £999.
"Later in life, home becomes even more of a haven"