Equity release
Equity release may be helpful for people who are over 55, who are worried about the following:-
- They are short of money and need to increase their income or capital.
- They want to stay in their existing home and do not want to downsize.
- They want to retain some equity for their dependants.
People use the money for a variety of reasons:-
- to supplement their retirement income
- to improve their present property
- to buy a new house or retirement apartment
- to purchase a new car
- to go on a world cruise
- to buy a holiday home
- to provide a deposit for their childrens’ house
- to fund divorce settlements
- to pay for health care in their home
- to pay for medical treatment
Our experience of advising clients on equity release is that they receive a new financial lease of life and independence at a time of reduced outgoings as it helps them to do the things they want to do.
Advising you on Equity Release
The first meeting is at our cost, with no obligation, to discuss your circumstances. Our priority will be to establish whether equity release is right for you by carrying out a comprehensive fact find and looking at any possible impact on state benefits. Once we are happy that it is appropriate, then we will research all of the plan providers for both lifetime mortgages and home reversion plans to obtain the best scheme to suit you.
We are specially qualified in Equity Release as all Directors and consultants have qualified by examination. We are also members of PEER (Promoting Excellence in Equity Release), promoted and supported by the PFS (Personal Finance Society).
We can visit you in your home or you can visit us at our offices in Grey Friars, Chester.
How we are paid for our equity release service:
Our completion fee will be £1,750 or 1.25% of the amount raised if greater. Any commission received from the plan provider will be refunded to you. If you do not go ahead after you have applied we will charge you 50% of our fee. For example, if our completion fee is £1,750 then our fee will be £875 if you withdraw your application. On a lifetime mortgage of £50,000 the average commission refunded to you would be £750.
Please note
Downsizing may be cheaper. Your entitlement to benefits may be affected. Releasing equity will reduce your estate.
This is a lifetime mortgage or home reversion plan. To understand the features and risks ask for a personalised illustration.