What is equity release?
Equity release is designed for homeowners aged 55 and over to release money from the property they live in without having to make any regular repayments. There are two types of equity release-
Lifetime Mortgages and Home Reversion plans.
Both are regulated by the Financial Conduct Authority. Using any of these products allows you to draw down a lump sum or regular smaller sums from the value of your property. Above all, you can still do this while remaining in your home.
It can play a role in retirement funding and the money, which is tax-free, can be spent on anything you like:
- Paying off existing debts including your mortgage.
- Gifts to the family to help them get onto the property ladder.
- It can be used just to help with day to day living.
- Maintaining your independence by improving your home.
- Special treats such as a nice holiday or a new car.
- Literally, anything you like (as long as it’s legal).
How Anstee & Co can help you with equity release.
We are Independent Financial Advisers (IFA’s). All our equity release advisers have taken additional qualifications in this field.
Being independent means that we look at all the financial options available to you from the whole of market. Also, some financial advisers offer just their own companies products or work from a limited panel of providers.
As equity release is long term lending we would recommend that it is something that you do not rush into. Maybe talking this through with your family may be a good idea.
Meetings can be arranged at a time and location that is convenient for you including your home. We also have offices located at:
- Kettering, Northamptonshire
- Stamford, Lincolnshire
- Towcester, Northamptonshire
- Birmingham, Snow Hill Queensway
- London, Pall Mall
Additionally, our financial advisers live and make use of meeting rooms in
- Bedford, Bedfordshire
- Droitwich, Worcestershire
- Northampton and Wellingborough in Northamptonshire
Find out more about equity release and to see is it right for you, visit our website for more information.
Points to consider.
The initial fact-finding meeting is free and without obligation.
- Our fee of £895.00 is paid by your solicitor to us from the money released from your home on completion. We only charge a fee if we have been able to obtain a loan for you.
- The plans we recommend have a no negative equity guarantee. This means that you will never owe more than your home’s value
- Equity release will reduce your estate’s value and may affect any means-tested benefits that you are eligible for.
- A Lifetime mortgage is a loan secured against your home. It is the most popular form of equity release. With a Lifetime mortgage, you will still own your home.