There are now over 121-lifetime mortgages on the market offering more flexibility than ever before.
Equity release allows the over fifty fives to release cash from their home but still allows allow you to continue living there. The funds can be taken as a lump sum or in stages, or a mix. You retain ownership of your home and the loan is repaid back with interest when you die or move into long-term care. As the interest is compounding care needs to be taken. As a rule of thumb, the interest owned can roughly double every ten years.
Peter Anstee, Business Development Manager at Anstee & Co said
“Equity release should not be entered into lightly. This is a long-term arrangement that should be talked through with your family. However in the right circumstances the money released from your home can help you enjoy your retirement.”
When you look at the figures, downsizing can offer to prove a better option. Even when you take into account the cost of moving and the cost of stamp duty. Practical consideration also needs to be considered. Will a smaller house suite your need or do you like the space of your current home? Will you be moving away from friend and family to find something smaller? Many people find that they have an emotional attachment to their home. The place that they brought up their family.
We are independent financial advisers (IFA’s) offering unbiased financial advice. Our team of financial advisers have taken additional professional qualification to be able to advise you on lifetime mortgages. We are also members of the Equity Release Council and work to their high professional standards.
To find out more follow this link to our website
To find out if equity release is right for you why not arrange a meeting today. The first meeting is free and we will not undertake any work for you until you are aware of the costs involved.
Our advisers cover Northamptonshire, Lincolnshire, Bedfordshire, Warwickshire and the West Midlands. Meetings can be arranged at a location that is convenient for you and your family. This maybe your home. We also have offices in Kettering, Stamford, Towcester, Birmingham and London. So when the time is right, give us a call.