Equity Release and Lifetime Mortgages
With recent changes to how pensions can be accessed more people are exploring opportunities to retire early. This includes using Equity Release to unlock capital tied up in property.
Equity Release provides you with a way to unlock money tied up in your home as it allows you to release a tax free lump sum to spend as you wish.
You have the option of repaying some or all of the interest or you can choose to let the loan roll up with no repayments, particularly as interest rates remain at their lowest level for this type of product.
The product comes to an end on second death or if the surviving person has to go into care. In other words, both you and your partner are free to live in your home for the rest of your lives. The property also stays in your name.
What can Equity Release be used for
Equity release can be used for a variety of purposes. These can include:
- • Adapting/improving your home to enable you to remain living independently for longer
- • Paying off debts, such as outstanding mortgages or credit cards
- • Paying for help around the home, including domiciliary social care
- • Purchasing a new car or other “large ticket” item
- • Providing financial assistance to your children and grandchildren – perhaps with a deposit on a house or to help them through university
- • Taking a holiday of a lifetime, perhaps to visit family living overseas
I’m interested in Equity Release: what do I do next?
When considering Equity Release you should always seek independent advice. This will ensure that the Financial Adviser has access to all of the products available and can ensure that the best one to meet your needs is recommended. Here at Premier Financial Group we offer a free, no obligation meeting where we can explain all of the features of the plans and how they work. The feedback we have had has been superb simply by unlocking what's rightfully theirs and improving lifestyles.
For further information contact Mark Shubrook on 01603 750020.
Premier Financial Group are permitted and regulated by the Financial Conduct Authority (FCA) to advise and recommend equity release products.
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