Equity Release
Equity release can help you realise your goals
Your property is an asset in more ways than one. With the release of equity, you can release cash from your home to tackle any extra bills, pay for a cruise or replace your car, pay off your interest-only mortgage which has reached the end of its term, to pay off the repayment mortgage early to bring forward retirement or just to provide additional funds to enhance your standard of living. You can also have a lifetime mortgage to help you buy a property. But what option is right for your needs? It's time to book a free initial consultation with John Earnshaw Independent Financial Advisers Ltd.
Make that property work for you
What option is right for you depends on what you're looking to do, as there are multiple options available to cover a range of needs. Do you need a lump sum for that special project? Do you just want a cash reserve that you can draw from as you see fit for a defined length of time? Whatever you're looking to do, our team can help facilitate it. All funds released are tax-free and there is no requirement to pay back any sum until the home is sold, you die, or you move into long-term care. There is the option to make repayments, however, should you choose to do so, but it will depend on the lender. Note that there may be a fee for any associated mortgage advice or research. This typically amounts to 1.5% of the loan amount but it will depend on the circumstances. Any equity release option will also reduce the value of the estate and affect your ability to access means-tested benefits. For more information, contact our team to book an appointment.
Is equity release right for you?
Are you prepared to use the value locked up in your home?
Please consider the following:
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Have you considered downsizing, grants, or use of savings?
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Have you considered your eligibility for state benefits and the effect equity release benefits may have?
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Have you considered your tax position?
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Have you spoken to your family and other beneficiaries of your will?
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Have you considered your health and life expectancy and the effect of changes in house values?
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Do you have an existing mortgage on your property which would need to be repaid?
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Equity release is not a vehicle to reinvest the funds into medium and long term investments.
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Any amount released should not exceed your current requirements and be appropriate to your attitude to risk.
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What are your future plans?
Your property is an asset - make the most of it and secure the funds you need with help from our team.
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