What is equity release?
Equity release is a product for people aged over 55 who wish to release equity which is currently locked up in the bricks & mortar of their own home. There are a few different products to achieve this, but for most of the products there is no requirement to make any monthly repayments and the outstanding amount is then repaid by your estate when you are no longer around.
How can equity release help in my retirement?
Retirement isn’t what is used to be – many people now wish to use their retirement to do the things they’ve always wanted to do. However those things can come at a cost and with a potentially reduced income and a majority of their net worth tied up in property, the funds are not readily available to do the things they want to do.
This is where equity release can help. It offers the opportunity to release some of the value of your home to fund the things you want to do, and without the overhead of a monthly repayment amount as you would find with a normal mortgage.
There are a wide variety of things you can use the cash for - these can include things such as:
• A once in a lifetime holiday
• A dream car
• Home refurbishments
It can also be used to release inheritance early should you wish – maybe you want to help your children get onto the housing ladder, or pay for their dream wedding. There are many ways the cash can be used to enrich your lives, or those of your family.
Why Future Balance Finance?
At Future Balance Finance your wellbeing is at the heart of everything we do, and we understand that deciding whether to release equity isn’t a straight forward decision. That’s why we’ll spend the time to understand your thinking to work out firstly whether equity release is right for you. If it is something you wish to pursue then we will ensure you understand the process entirely as well making sure everything is completed as stress-free as possible.
We will keep you updated every step of the way and if there is anything you don’t understand or wish to know more about, we will ensure that we explain in detail and answer every one of your questions until you are comfortable everything makes sense.
We are also proud members of the Equity Release Council which means we have to agree to strict council rules as well as adhering to their statement of principles. All of this is designed to protect our clients and give you the peace of mind that we are doing everything we can to work in your best interests.
If you want some more information about equity release then get in touch today on 0330 122 9760 or by e-mailing us on [email protected].
*Equity release may involve a lifetime mortgage which is secured against your property or a home reversion plan which requires the sale of property for a discounted price. To understand the features and risks, ask for a personalised illustration. You only continue to own your own home with a lifetime mortgage.*