Equity release & lifetime mortgages

What is an Equity Release

Equity release is the term used to describe the various ways you as a homeowner can financially benefit from the value of your home. Equity release enables you to raise capital, income or a combination of the two whilst continuing to live in the property.

At a time of serious economic instability, when pension and investment values are quite volatile, equity release can appear to many to be a viable option.

People consider Equity Release for many reasons - to raise a lump sum to help them improve their homes, to pay for a much needed holiday or a major purchase like a caravan, or holiday home.  A number wish to help their children and grandchildren who may be having financial difficulties.  standard of living in retirement, or to help another member of the family in need of financial assistance.   As investments have fallen in value and costs in fuel and other household bills have risen additional income is becoming more of a priority - this can be provided annually, half yearly or monthly.  Even a few thousand pounds a year can have a major impact on the quality of a persons life.

Equity Release can be complicated and is not a decision that should be taken lightly.  The CareMatters team have a wealth of experience working with homeowners over the age of 55 and always consider all of the options available thus allowing you to make an informed decision.

There are two types of Equity Relase, 'Lifetime Mortgages' and 'Home Reversion'. 

With a lifetime mortgage, you retain ownership of your property and do not have to make any payments during the life of the mortgage.  You can continue live in the property until you move into a care home or until your death. 

Most Lifetime Mortgage and Home Reversions are 'portable' which means that if you decide to move home then you can transfer the plan to that new home - subject to the Equity Release Company's conditions at that time.

With a Home Reversion, you sell a part or all of your home, and no interest payments are made. As with the Lifetime Mortgage, you can continue to live in the property until your death or you move into a care home.

These are Lifetime mortgages.  To understand their features and risks please ask for a personalised illustration. 

Clients have the option to pay for mortgage advice by fee only or by a combination of fee and commission from the product provider.  A typical example of fees is 1% of the value of the home.

To find out more about Equity Release or Lifetime Mortgage then please call FREEPHONE 0800 822 3385