Equity Release Options

For most people their home is the biggest value single asset that they own. Often the property was bought and paid for when income was much higher in relation to outgoings and so when money is short, or life isn’t as comfortable as it could be it is understandable why people would want to unlock some of the cash tied up in their property.

However it is important to understand that there is no such thing as a free lunch and that by borrowing against your home (as in the case of a lifetime mortgage) or selling all or part of your home that you still intend to live in (as in the case of a home reversion plan), that there are costs involved and it will reduce the value of any eventual inheritance.

In the past Equity Release has had some bad Press, but with the advent of SHIP (Safe Home Income Plans), now the Equity Release Council, it is more regulated and only advisers with the relevant specialist qualification can advise on it. Members of the Equity Release Council give a ‘no negative equity guarantee’ and insist that clients have their own independent legal adviser.

We will take you through the options and alternatives, ensuring you fully understand the costs and implications as well as the benefits before recommending a suitable plan.