Equity Release products are designed for people over 55 to take cash value from their homes without having to move.
Equity release schemes enable you to stay in your own home and benefit from the cash released from the equity of your property.
There is a wide range of Equity Release products which can provide a valuable source of income for some people.
There are different types of Equity Release schemes, some of which mean ownership or part-ownership of the property passes to the Equity Release provider and others where a cash sum is drawn from a promise to repay the lender on the sale of the property.
It is important if you are considering an Equity Release scheme to understand the differences between these scheme types and this is something we can help you with.
We understand that the process can feel a bit overwhelming, but as experts in this area, we’ll discuss with you exactly what you want to achieve by releasing equity from your property and find the best deal available for you.
We’ll guide you every step of the way and ensure you are personally looked after as we work through the equity release process.
Equity Release will reduce the value of your estate and may affect your entitlement to means tested benefits and tax status.
You are strongly advised to register a lasting power of attorney to mitigate the risks associated with managing financial affairs in the event of cognitive decline.