JC Equity Release
It’s easy to overlook your property as part of your finances, but your home is probably the biggest asset you have.
Unless the value of your property has fallen, the many years you spent paying off your mortgage - along with the overall increase in house prices over the last few years - will have likely increased your home equity and therefore the financial potential in your property.
Equity release is a way to unlock this potential and access the money in your home.
Is Equity Release Right for You?
If you’re aged 55 and over and are considering later life lending options, equity release could be the solution you’re looking for.
One popular way to release equity is by taking out a lifetime mortgage. With this option, you borrow a percentage of the value of your home from a lender. You still own your property, but you have a loan secured against it. This loan is repaid when you pass away or move into long-term care with no prospects of returning to the residence.
Lifetime mortgages are flexible products.
Some options include:
- Interest roll-up
- Early repayments
- Ring-Fencing equity for inheritance
- Drawdown facilities
- Income products
It’s worth noting that equity release has changed dramatically over the past 20 years. It was once seen as a “distress purchase” or a last resort, but the market has seen recent innovations and rapidly changed for the better. Equity release is now a mainstream lending option.
There are also now certain safeguards in place, like the no negative equity guarantee which means you’ll never pay more than the value of your home, a governing body established with clear guidelines from the Equity Release Council and really competitive later life products with flexible new features – like ring-fencing for inheritance, the ability to drawdown cash when you need it and even income payment plans.
You’ll need expert equity release advice before you can go about releasing equity. It’s a regulatory requirement.
A qualified, specialist adviser will be able to talk you through all of the options available and find a product that suits your needs.
Our Equity Release Partner
Our partners Key Patnerships will compare products from across the market to find the one that’s best for you. They’ll discuss all the options available and explain exactly how your plan will reduce the value of your estate and affect certain benefits.
Your initial consultation with Key Partnerships is free with no obligation to proceed. If you decide to go ahead with an equity release plan, you’ll usually be required to pay an advice fee, which is normally a percentage of the amount released and is only payable upon completion. This will vary depending on the provider.
If you would like to know more information about equity release, please fill in your details using our arrange a callback feature below and one of our team will happily discuss all the options available to you.