Equity Release Advisers

Equity Release Advisers

Equity release advisers are believed to be necessary for individuals who are considering an equity release mortgage product. Products are often complex and may appear confusing to some, however, equity release advisers work to find an affordable and beneficial long term solution, for the individual and their inheritors. Our equity release advisers are specialists in all equity release products and are assured to seek the best possible solution for each of our clients.

An equity release mortgage provides mature individuals, over the age of 55, the opportunity to free up finances within their residence in order to accomplish personal ambitions, or to aid their standard of living. Equity release mortgages may either be presented as a lifetime mortgage or home reversion plan.  

Lifetime mortgages are obtainable as three alternative arrangements; interest only, interest roll up and home income plans. The plan required by the potential equity release mortgager depends on the client’s monetary circumstances and what they hope to achieve from their arrangement. In addition, certain lifetime mortgage schemes may only be suitable for individuals within specific age range. For instance, a rolled up interest lifetime mortgages may be less appropriate for younger clients due to the debt likely to roll up over more years, whereas an home income plan option is more fitting for individuals over 80, as it provides a fixed lifetime income.

Although less familiar, home reversion plans may be appropriate for some individuals and can secure lasting financial steadiness for a mature individual. A cash figure is usually paid to the provider of the home reversion, with the intention of generating additional funds for an individual to reap from. The borrower is guaranteed lifetime occupancy within their property until death, hereafter the provider will benefit from a proportion of the proceeds from the sale of the property. Full home reversion and part home reversion schemes can be arranged for clients by equity release advisers, the difference being that the provider gains full ownership of the client’s property on a full home reversion, whilst the client is entitled to a share of the property in a part home reversion.

Equity release advisers can assist each client during the process of seeking the most suitable equity release; however it cannot be denied that equity release schemes come with by a number of risks. By receiving extra income, the client is affecting their own eligibility to be able to apply for further state benefits, meaning they will not be able to achieve the maximum amount of potential income. Therefore, the idea of an equity release arrangement may not be as striking as it appears at first. However most equity release products offer a no negative equity guarantee, ensuring the clients will not have to repay additional costs if the mortgage debt exceeds the properties value.
Our equity release specialists have the required skills to uncover the most efficient equity release product available.

Certain equity releases may demand the individual to make a certain number of sacrifices. The job of equity release advisers entails them to assist clients in achieving long term stability. Our group of equity release advisers are committed to finding the most cost-effective and beneficial equity release mortgage schemes for each client.

Considering an equity release mortgage? Call our team of equity release advisers today.

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This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration.

CHECK THAT THIS MORTGAGE WILL MEET YOUR NEEDS IF YOU WANT TO MOVE OR SELL YOUR HOME OR YOU WANT YOUR FAMILY TO INHERIT IT. IF YOU ARE IN ANY DOUBT, SEEK INDEPENDENT ADVICE.