Equity release

Equity release products are either lifetime mortgages or home reversion plans. We offer a comprehensive range of equity release products from across the market but not deals that you can only obtain by going direct to a product provider.

Equity release is typically available to people who are over the age of 55 and have their own home with a significant amount of equity, but don’t have enough money or income for their needs.

By releasing equity in the form of a lifetime mortgage or home reversion plan, it enables the individual(s) to remain in their home and raise money for things such as:

  • Generating a capital lump sum
  • Providing an additional income
  • Provide for lifetime gifts to relatives
  • Cash for home improvements
  • Cash for holiday home purchase
  • Funding for long term care

Where equity release is a suitable solution and you take out a lifetime mortgage or home reversion plan, the money does not usually need to be paid back or the home sold until the last remaining borrower dies or moves into care, although this may not be the case, for example if you make repayments to preserve as much of the inheritable estate as possible.

Is equity release right for me?

While there are benefits equity release isn’t for everyone and the advantages need to be weighed up alongside drawbacks:

  • Is it deemed to be expensive?
  • Will releasing equity impact on you being able to claim certain state benefits and effect your personal tax position?
  • What about the impact on local authority grants / other grants (i.e. for essential home improvements)?
  • How important is the potential of any inheritance passed down to loved ones?

Also, there may be alternative options available that need to be explored before taking the equity release route:

  • Consideration of a conventional mortgage as an alternative
  • Moving to a smaller home
  • Using any savings or investments
  • Selling the home and moving into rented accommodation or living with children or other relatives.

Don’t worry as we can help you understand all the features and drawbacks so you can make a fully informed decision.

Expert financial advice on what is right for you

As financial advisers with the required equity release qualification and training, we can assess your individual circumstances and needs, and then give you expert advice on the right course of action for you.

The benefits need to outweigh the drawbacks to ensure equity release is more suitable than alternative methods of raising funds.

It’s often said that you can’t buy peace of mind; however that’s exactly what our financial service does, as you can rest assured knowing you have the right solution for you.

Do note the following:

Equity Release – This form of lending is most suitable for those over 65, however, it’s possible to do this if you are over 55. It is important to understand that these are lifetime mortgages and to understand their features and risks, you will need to have a personalised illustration.

It is advised that customers seek independent legal advice before entering into a legally binding equity release contract.

What our clients say…

“My brother and I consider ourselves incredibly fortunate to have been advised by Floyd on a complex equity
release transaction to fund live-in care for a family member. We are indebted to him for his expertise,
professionalism, pro-activism, optimism and guidance throughout the whole process.”

Mrs W.

Avon, 12/2023

Contact us today to book your initial consultation