Equity release advisers in Stevenage

Equity release is a means of retaining use of a house or other object which has capital value, while also obtaining a lump sum or a steady stream of income, using the value of the house.

These mortgages are sometimes referred to as retirement mortgages, however you do not need to be retired to benefit from this type of mortgage. Although the interest rate can be higher than a comparable standard mortgage, this is due to the fact that the lender does not know when they will get their money back. You can access equity release mortgages from the age of 55 and there is a scale of what percentage of your property can be borrowed relating to your age.

Using equity release you can draw a regular income or a lump sum. If you cannot afford the monthly interest payments, there is an option to roll this up into the debt. An equity release mortgage can help you stay in your property rather than having to move away from family and friends.

What purposes can you borrow for:

• Pay off an existing mortgage
• Supplement income
• Improve, adapt or repair your home
• New car holiday or family event.
• House deposit for sons, daughters or grandchildren
• Private health operations or treatment.
• If your reason is not on the list please give us a ring to discuss.

Are you looking to release equity from your property? Call 01438 359300 for a FREE, no-obligation initial consultation today!

Equity release plans are not right for everyone and it is important that you fully consider your options and receive impartial financial advice before making a decision. It is also important that, if you do decide to use an equity release product, you need to be sure it is one that meets your needs. If you would like to end your lifetime mortgage early, then you may have to pay a substantial early repayment charge. A professional adviser can help you to choose the plan that is right for you. To understand the features and risks, ask for a personalised illustration.