How Does It Work?

Just Retirement Solutions Limited offers full financial advice on all types of equity release schemes from a range of leading providers. There are two main types of equity release schemes available – lifetime mortgages and home reversion plans.
 

Lifetime mortgage

• is a type of loan secured against your home
• you remain in your home
• you can borrow a lump sum or take an income at an agreed interest rate
• the mortgage is repaid upon your death using the proceeds from the sale of the house
• the interest that is built up is repaid - along with the total loan amount - once you die or move permanently into care
   

Home reversion plan

• a home reverson plan gives you a cash lump sum or income in return for selling part, or all of you property to the product provider - though you will not receive the current market value
• you no longer own your home but continue to live there as a life long tenant
• there is no interest to pay because it is not a loan
• if your property increases in value you will only benefit from the increase to the proportion you still hold

As equity release is a lifelong commitment we recommend you involve your family in the decision making process because releasing money from the home will affect the amount that you will be able to leave them when you die. Equity release will reduce the value of your estate and may affect your entitlement to state benefits. If you choose to repay the loan early you may incur early repayment charges.

Call: 0800 015 0993 (Mon - Fri 9am - 5pm)

Advice is with no obligation and an administration fee of £749 will only be charged if you take out a plan.

Equity Release may involve a lifetime mortgage or a home reversion plan.To understand the features and risks, please ask for a personalised illustration.