What is Equity Release?
An Equity Release scheme allows you to access the cash tied up in your home.
Historically, the main way of unlocking capital from your home has been to trade it down for a smaller property, or to move to a less expensive area. With an Equity Release mortgage you need not leave the family home with the added stress and expense that moving will bring.
With an Equity Release scheme you borrow against the value of your property to release cash for whatever purpose is appropriate for you. For example, it can be used to provide additional cash for an immediate requirement or to provide extra regular income in your retirement.
Why might Equity Release be appropriate for you?
Here are some of the benefits people find from Equity Release.
Reassurance
Equity Release can provide a cash sum or additional income to help improve quality of life. The lump sum Equity Release may be used to fund home improvements, purchase a new car, to meet other capital costs, to go on that dream holiday or simply to set aside a pot of cash as reassurance against those unexpected future expenses. The cash released can be invested in suitable investment products to generate extra monthly income to ease the worries of the recurring everyday bills or living expenses.
Planning for the future
With life expectancies increasing there is a greater chance of needing long term care into old age. Government statistics suggest that there is a one in three chance of a 65 year old woman needing to be admitted to a nursing home, and around one in five chance for men.
The cost of long term care can be expensive, current estimates put the average cost for nursing home care at over £19,000 a year. Some 40,000 homes are sold every year to pay for care bills but by using the capital from an Equity Release scheme, a suitable care plan can be purchased to ensure future needs are met whilst you are secure in the knowledge that you can remain in your home.
Inheritance Tax Planning
Equity release may be of value to your inheritance tax planning. Cash release schemes can move capital out of the home, which can then be protected by the use of trust, or be gifted for inheritance tax benefits.
What can Astute-Mortgages do for you?
Astute-Mortgages is an independent mortgage brokerage and has access to the widest possible choice of mortgages. Astute-Mortgages can help you to choose the Equity Release mortgage that best suits you and to safeguard your future. Astute-Mortgages will work with a suitably qualified independent financial advisor, so that the equity you have released really works best for you.
For independent advice from one of the country’s leading independent financial advisors click on the ‘call me back’ button below.
Your safe-guards
Today’s Equity Release plans offer a host of safeguards introduced to protect you against future changes in the financial markets. These protective features include fixed rates of interest, guaranteed income levels, no monthly repayments and ‘no-negative equity’ guarantees.
Astute-Mortgages observes Safe Home Income Plan’s (SHIP’s) code of practice. SHIP was established in 1991 to promote safe Equity Release plans. SHIP’s code of practice provides extra reassurance by ensuring that you:
Have the right to live in your property for life;
Have the freedom to move to a suitable alternative property without financial penalties
Receive either a cash sum or regular income payments
In addition Astute-Mortgages will only broker an equity release scheme on the understanding that you take legal advice before entering into the plan.
Tell us what you need by filling in our enquiry form.
A regulated mortgage advisor will contact you within 24 hours to help you to find the best equity release deal & realise extra cash from the value of your home.
Your home is at risk if you do not keep up with the payments on your mortgage or other loans secured on it.
