Equity Release Specialist

Equity Release Specialist

An equity release specialist may be considered necessary for individuals who seek equity release mortgage, in order to free extra finances by securing a loan onto their property. Equity release products are typically complex, with numerous benefits as well risks as related to each mortgage product. Our equity release advisers have substantial experience in dealing with equity release mortgage plans and are ensured to find each client a suitable and cost-efficient scheme.

Equity release mortgages are available to individuals aged 55 or over, who are looking to generate extra funds in order to pursue personal aspirations, or ease any financial problems they may have. An equity release specialist can help clients arrange two varying equity release products; lifetime mortgages and home reversion plans. An equity release arrangement is ended when the plan holder dies, or is transferred to a care home, without the intention of returning to the house.

Lifetime mortgages require the borrower to repay the mortgage loan along with interest to the provider the equity release specialist recommends. There are three alternative formats, in which the borrower is able to repay the mortgage loan; either via an interest only scheme, an interest rollover scheme, or a home income plan.

Interest only schemes require an equity release specialist to receive the entire mortgage payment when the contract is terminated, however the borrower has to issue monthly payments of interest to the provider recommended by the equity release specialist. Interest rollover schemes permit the borrower to repay interest along with the mortgage loan at the end of the contract, yet variable interest is calculated every month throughout the arrangement. Home income plans require the equity release specialist to receive monthly instalments of mortgage and interest payments. Borrowers may use the newly found cash to buy an annuity, which will provide a fixed lifetime income and may be used to repay monthly costs of the mortgage. Interest may be fixed on a home income plan. Our expert advisers are equipped to offer each client advice on whether lifetime mortgages will be well suited to their financial and personal needs.

Home reversion mortgage plans cab be acquired by an equity release specialist. These plans are able to be arranged as a full home reversion or part home reversion, which both work on a sale and leaseback basis. The individual sells their home to the equity release provider, who then leases back the property to the plan holder for no charge, until death. As soon as the death of the plan holder occurs, the equity release provider sells the property and benefits from the proceeds of the sale. A part home reversion scheme entitles the beneficiaries of the borrower to receive a proportion of the proceeds from the sale of the property.

Although equity release provides beneficial offers for certain individuals, it ought to be specified that equity release schemes may not be suitable for all individuals seeking extra income. Considering that this plan is expected to affect the borrower’s inheritance upon death, it is advisable to discuss plans with beneficiaries involved in the individual’s will. Our expert equity release specialist advisers find the most competitive form of equity release, suited for each and every client.

If you are interested in speaking to an equity release specialist, contact our us 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.