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Why Do I Need Equity Release Advice?

In the right circumstances releasing capital from your property through an Equity Release scheme can be an ideal way of raising money. However, it will not suit everyone and it is important to seek independent financial advice before making any decisions.

This is a lifetime mortgage. To understand the features and risks, please ask for a personalised illustration. Check that this mortgage will meet your needs if you want to move or sell your home or you want your family to inherit it. If you are in any doubt, seek independent advice.

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Generally suitable for:

Equity Release schemes can be beneficial in the following circumstances:-

1. People repaying an existing mortgage.

2. Boosting your income in retirement.

3. Raising money for that holiday of a lifetime or to help with home improvements.

4. Helping your family by gifting funds for a property purchase, home improvements or debt consolidation.

5. Those wishing to pay for domiciliary care.

6. Consolidating existing debts whilst not having to make any monthly repayments.

7. Inheritance Tax Planning.

8. Moving to a more expensive property such as a bungalow for those with concerns on their mobility.

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Not generally suitable for:

However, Equity Release will generally not be suitable in the following circumstances:-

1. People under the age of 55

2. People who receive means tested benefits as these could be lost if you release money from your property. Although the drawdown schemes can allow applicants to keep any savings below the level that would affect their benefits.

3. People with substantial savings as it is better to use any savings before considering an equity release.

4. People who want to leave the full value of their property to their loved ones on death.

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