Equity Release

Understanding Equity Release: Unlocking the Value in Your Home

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Equity release is a financial solution that allows homeowners to access the equity tied up in their property without having to sell or move. This can be a valuable option for those looking to supplement their income, fund home improvements, or manage debt in retirement. ​

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Benefits of Equity Release:

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• Access to Funds: Equity release provides access to the money tied up in your home, which can be used for various purposes such as home improvements, travel, healthcare, or supporting family members.

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• No Need to Move: You can stay in your home and continue to benefit from any future increases in its value.

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• Flexible Options: Lifetime mortgages offer flexibility in how you receive and use the funds.

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• Tax-Free Cash: The money you release is tax-free, as it’s considered a loan rather than income.

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Equity release can be a suitable solution for homeowners looking to improve their quality of life in retirement without the need to downsize.

 

However, it’s not the right choice for everyone. Consider your long-term financial needs, the impact on your estate, and explore all available options before making a decision.

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Get in touch for more information where I can refer you on to an equity release specialist.

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A Lifetime Mortgage is not suitable for everyone and may affect your entitlement to means tested benefits, so it is important to seek financial advice before taking any action. If you are considering releasing equity from your home, you should consider all options available before equity release.

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The interest that may be accrued over the long term with a Lifetime Mortgage, may mean it is not the cheapest solution. As interest is charged on both the original loan and the interest that has been added, the amount you owe will increase over time, reducing the equity left in your home and the value of any inheritance, potentially to nothing.

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Although the final decision is yours, you are encouraged to discuss your plans with your family and beneficiaries, as a Lifetime Mortgage could have an impact on any potential inheritance. We would also encourage you to invite them to join any meetings with your Financial Adviser so they can ask questions and join in the decision, as we believe it is better to discuss your decision with them before you go ahead. This is a referral service.