couple working in kitchen talking about equity releaseOriginally equity release was designed for older people who wanted to increase their income in retirement by releasing some of the equity tied up in their homes without downsizing.

The equity release market is very competitive with lenders bringing out more innovated products that can offer more flexibility than before.

These new products still offer tax-free lump sums. The money can be used whichever way you choose. This could be to pay off an existing mortgage or debts, to fund home improvements to make staying in your own home easier or to pay for private medical treatment. Some will pass the money onto the family to help them get onto the property ladder.

What needs to be considered?

retire, retirement logoFirst of all, equity release is a long-term commitment and needs to be considered carefully. Options such as moving to a less valuable property and ensuring that you are aware of all the help that the state can provide needs to be considered.

If you have a family, telling them what your plans are is always helpful and encouraged.

To apply for equity release you need to be a homeowner and be aged fifty-five plus.

Two types of equity release.

Logo for equity release CouncilEquity release is the umbrella term that covers both-

  • Lifetime Mortgages
  • Home Reversion schemes

To find out more about the difference you can find a fuller explanation by visiting our website. In reality, few people apply for Home Reversions scheme loans, with most opting for Lifetime Mortgages. Many feel that Lifetime Mortgages offer more flexibility and allow them to benefit from any increase in the value of their home.

How we can help you with equity release.

At Anstee & Co we have a team of specialist financial advisers that have passed additional professional exams allowing then to offer unbiased advice on equity release. Being independent allows us to look at all the options that are available not just equity release. Our experience covers all aspects of personal financial planning, including pensions, estate planning, protection insurance and investments.

We would welcome the opportunity to discuss how we may be able to provide you with financial advice. The first, ” getting to know you” meeting is at our cost and without obligation. Why not contact us today to see how we can help you? If you wish to include members of your family or a friend in the meeting that is not a problem.

call back logo for equity releaseWe have offices located at-

  • Kettering, Northamptonshire
  • Stamford, Lincolnshire
  • Towcester, Northamptonshire
  • London, Greater London

Additionally, our financial planners live at-

  • Northampton
  • Bedford
  • Market Harborough
  • Wellingborough

Due to the present government guidelines regarding COVID-19 (coronavirus) and social distancing we are making full use of video conferencing facilities such as-

  • Zoom
  • Microsoft Team
  • Skype
  • Facetime

We can also arrange a conference call. The choice is yours. There is no need to visit an office as all work can be handled remotely. So, the meeting can be arranged at a time that is convenient for you.

If you have any thoughts on this article, “Equity Release: Planning for Later Life.”, then we would love to hear from you.

Finally, entering into an equity release plan could change your life for the better, but as it is a long-term financial commitment, you must take professional independent advice. We are Independent Financial Advisers (IFA’s) and members of The Equity Release Council.

Financial Conduct AuthorityThe information contained in this article is for information purposes only and does not constitute financial advice. Anstee & Co. is authorised and regulated by the Financial Conduct Authority (FCA).