What is equity release?
Equity release enables you to unlock money from your home whilst still living there. You do not have to repay any of the money borrowed until the property is sold either on your death or when you move into care.
To qualify for an equity release scheme you must be over a certain age, usually 60, and own a property.
Equity release can provide you with access to:
- a single cash lump sum
- a facility to take cash lump sums as and when you need them
- a regular income
The importance of advice
It is essential to take professional financial advice before opting for an equity release plan, as releasing equity will reduce the value of your estate and may affect your entitlement to state benefits. Also, if you choose to repay the loan early, you may incur early repayment charges.
At Just Retirement Solutions Limited we:-
- offer expert personal financial advice
- recommend the most suitable product for your circumstances
- will advise you of alternative options if equity release isn't suitable for you
- have access to a panel of leading providers
- carry out a full analyis of your state benefits to ensure you are receiving the maximum entitlement and the affect releasing equity may have
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.
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.