Equity Release
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Equity release is a way for homeowners aged 55 or older to access the cash tied up in their home without selling it. It allows you to borrow against the value of your home, usually up to 60% of its value. The amount you can borrow depends on your age, the value of your home, and other factors.
It is usually repaid from its sale when you die or go into long-term care, subject to our terms and conditions. Until then, you’ll still own your home and won’t need to move out. You can receive either a one-off lump sum payment or a smaller lump sum with a cash reserve to draw from in future, which will reduce the amount you can leave as inheritance. It may also have a tax impact and affect whether you’re still eligible for welfare benefits.
How could a tax-free cash injection help you?
- Adapt your home, so you can continue to live independently
- Renovate or refurnish parts of your home
- Top up your retirement income
- Pay one-off private medical bills, or receive ongoing care at home
- Help children and grandchildren with house deposits, weddings or other major events
- Manage your estate, wealth and tax planning, and leave a living inheritance
- Pay off an outstanding mortgage, including the shortfall on an interest-only mortgage
- Fund leisure interests, a new car, a holiday, or visiting relatives abroad
Repay Mortgage
Buy A New/second Home
Supplement Income
Holidays
Debt Consolidation
Gifting Money To Family
Home Improvements
And Many Other Reasons.
How Are Lifetime Mortgage Could Be Used For Support Care At Home
Did you know that a lifetime mortgage could be used to help pay for care in the home, top up income in retirement or to pay for home improvements to make the home a safer place?
Whether it be a lump sum or a drawdown plan if funds are required over a longer period of time, we are here to help.
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.
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.
We are not authorised to provide advice on Equity Release and will refer you to an authorised specialist, who can assist you in this area.
