Equity release
Your complete guide to equity release
Equity release with lifetime mortgages
A lifetime mortgage is the most popular way for UK homeowners to release equity. Contact The Mortgage Shop and discover if equity release could be right for you.
Your complete guide to equity release
Join the tens of thousands of people who are already enjoying the benefits equity release could offer.
What are the top reasons for releasing equity?
Getting the best advice
What is equity release?
Equity release allows homeowners who are aged 55 or over to release some of the equity tied up in their home and turn it into tax-free cash.
The value of your home, minus any mortgage you may owe, can be described as your ‘equity’.
With favourable equity release market conditions including CURRENTLY low-interest rates and increasing UK property prices, more and more people aged 55 and over are now choosing to release some of this equity and turn it into tax-free cash.
The amount of equity you can release is based on your age and how much your home is worth.
Whether you are looking for funds to buy a new car, help family members get on the property ladder, make home improvements or to just simply improve your lifestyle, equity release could be the answer.
Some benefits of equity release can include:
Lump sum of tax-free cash
Spend the cash on anything you like
Maintain 100% homeownership*
No monthly repayments
Continue to live in your home
* You only continue to own your own home with a lifetime mortgage, secured against your property.
Those who are considering releasing the cash locked up in their home should seek independent, impartial advice to ensure that it is the best option for them.
To find out more about equity release including how much money you could release from your home, call 07971 242 045.
Contact
Mandy Vicary
Manager
In order to provide you with the best help and advice, please contact Mandy by telephone anytime. Alternatively send an email to let Mandy know the most convenient time to contact you to discuss your requirements in more detail.
Open for enquires 7 days a week
from 9am until 5pm.
Frequently asked questions
1. Can I still benefit from any future increase in my property’s value?
With a lifetime mortgage, the most popular type of equity release plan, you continue to own your entire home, so you can still benefit from any future increase in its value.
3. Can I still move home after I have released equity?
All lifetime mortgages and drawdown lifetime mortgages are ‘portable’, which means that you can still move home in the future, taking the plan with you, as long as your new property also meets the lenders criteria.
2. How much can I release?
The amount of equity you can release depends on your age and the value of your property. Some lenders will also take into account your health and lifestyle to access you even more cash.
4. Can the plan provider taken my house away from me?
Whatever the plan you choose, you have the right to stay in your home, depending on the terms of the plan, until all homeowners either pass away or move into long-term care.