Equity Release Mortgages

Equity Release Mortgages are a means by which you can use the value of your home to obtain a cash lump sum or receive a regular income, depending on the type of equity release mortgage that you choose. They are usually limited to people over the age of sixty

Home Reversion Plans

With a Home Reversion Plan, the lender provides you with a lump sum payment and becomes the owner of your house. The lender buys your house from you for a percentage of its value and then allows you to live in your own home, rent free, until you die or go into long-term care, after which the lender will sell the property.

Lifetime Mortgage

With a Liftetime Mortgage, you receive an amount of money from the lender in exchange for a mortgage over your home. Again, you can then live in your own home, rent free, until you die or go into long-term care. Interest on the amount you have borrowed is only charged when the loan is repaid, meaning that there are usually no monthly payments to make (as you would expect with a regular mortgage).

There are risks and rewards associated with equity release mortgages and you will need a solicitor or legal adviser to advise you before the equity release can be completed. If you are thinking about obtaining an equity release mortgage, we can provide you with clear and practical guidance, as we have a large amount of specialist experience in this area. If you are local to us, we can also arrange for a home visit once the transaction is underway to go through all of the paperwork with you.

Please feel free to call us on 0113 236 2334 to discuss your needs or email us for a quote.