Equity Release & Retirement

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  • FCA Approved & stress free financial advice
  • Professional, fully managed service & single point of contact
  • Trusted & local knowledge from a property expert
  • Low Interest Rates Available
  • Let us take care of the entire application

Why Equity Release?

  • Equity Release allows individuals aged 55 and over to release money from the property they live in without having to make any monthly repayments. 
  • We will set up a face-to-face meeting with you to evaluate your circumstances.
  • Following an initial meeting, our equity release adviser will determine which type of product is best for you.
REMORTGAGE TO RELEASE EQUITY EASTBOURNE

The 10 Most common reasons for Equity Release

  • Care Costs For A Spouse Or Relative
  • Purchase An Investment Or Holiday Property
  • Clear Debts & Clean Up Poor Credit History
  • Aspirational Holidays & Large Purchases
  • Gifts & Inheritance Tax Planning
  • Supplement Retirement Income
  • Home Improvements
  • Repay Interest Only Mortgage
  • Help Grandchildren with Property Deposit or Tuition Fees
  • If you do not have any income, this is a great alternative method to afford daily expenses

 

If you wish to move to a more expensive home which requires a mortgage, equity release can enable you to make that happen. Just like with a normal mortgage, the lender will provide the shortfall of funds on the balance and execute the transfer to the solicitor on the day of completion. The mortgage will then begin and you can either have no repayments and let the debt roll up, or pay the interest or make lump sum repayments as and when you wish.

What are the terms for Equity Release?

Interest rates are fixed for life, with no affordability check, no payments required and no end date to the mortgage (it becomes payable on surviving applicants death or moving into residential care).

There are many different options available:

  • Interest can be served without penalty, thus stopping the debt from growing just like a normal interest only mortgage
  • You can even make payments to start reducing the debt owed which can mitigate or avoid roll up of the balance outstanding
  • Early redemption penalties vary on the amount owed depending on which scheme is ultimately available
  • All products are transferable subject to meeting criteria on the new property

 

No Negative Equity Guarantee 

For later life mortgages the risk is treated the same as a standard mortgage. Our Retirement Interest Only and Equity Release plans offer No Negative Equity Guarantee, which means if the debt rolled up is more than the property value, there is no further liability.