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EQUITY RELEASE MORTGAGES

At Your Mortgage Expert, we are experts in helping you to access Equity Release Mortgages. These can help you unlock some of the equity from your home.

 

What is Equity Release?

If you’re a home owner aged over 55, you may want to unlock some of the money tied up in your home. This is where Equity Release Mortgages can be useful because they enable you to free up some of the equity held in your home without having to commit to a monthly mortgage payment.

They are designed to allow you to:

  • Release a tax-free lump sum, a regular income or both.
  • Release funds when you need it.
  • Spend your money on pretty much anything you choose.

Here are some of the reasons that you might consider an Equity Release Mortgage:

  • You are asset rich but cash poor but don’t want the stress of moving home.
  • You want to supplement your income in retirement.
  • You have debt to clear such as an outstanding mortgage.
  • You want to fund home improvements.
  • You want to help family and friends.

If any of these circumstances sound like you, then Your Mortgage Expert can help. The amount you can release depends on a range of factors such as your age and how much your house is worth. It is also important to remember that, by releasing the equity in your home, this will reduce the value of your estate. And, it may impact your state benefit allowance.

How Your Mortgage Expert can help

At Your Mortgage Expert we are experts in Equity Release Mortgages. As Equity Release does impact the value of your estate, it is always a prudent decision to seek mortgage advice.

The most common types of Equity Release plan are Lifetime Mortgage and Home Reversion plans. Both allow you to release equity from your home whilst you still live in it but both plans work in different ways. Both of these are designed to help you raise the money you need but there are a number of things to consider before you decide whether Equity Release is for you. 

Equity Release isn’t for everyone. You need to think carefully before you decide whether it’s for you – it’s all about weighing up the pros and cons. That’s why we have specialist knowledge on the subject and can give you all the facts, point out the features and the risks, and give you a personalised illustration.

We will talk you through all the options and help you to understand whether there are alternative options which might be more appropriate in your circumstances. We will also explain any fees that might be applicable and any other financial implications.

 

About Your Mortgage Expert

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At Your Mortgage Expert, we offer independent mortgage advice. We provide a personal and knowledgeable service. You can trust us to be on your side and to find the most appropriate deal for you. We are based in Salisbury but can help you no matter where you live in the UK.

 

 

A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

 

EQUITY RELEASE MAY REQUIRE A LIFETIME MORTGAGE OR HOME REVERSION PLAN. TO UNDERSTAND THE FEATURES AND RISKS, ASK FOR A PERSONALISED ILLUSTRATION.

EQUITY RELEASE IS NOT RIGHT FOR EVERYONE. IT MAY AFFECT YOUR ENTITLEMENT TO STATE BENEFITS AND WILL REDUCE THE VALUE OF YOUR ESTATE.