equity release companies

equity release companies

Learn More. Ads: Ads appearing on any of our websites may be delivered to users by advertising partners, who may set cookies. A report last month from equity release adviser Key found that over-55s were borrowing lower sums with equity release, although the number of … The Equity Release Company. Your tax-free money is yours to spend as you wish, either as a lump sum or a series of drawdowns . Equity release. * Source UK Equity Release Market Monitor Quarter 3 2019. Some equity release companies will also have a maximum and a minimum age at which they will provide you with their equity release products. Equity release allows individuals aged 55 and over to release money from the property they live in without having to make any monthly repayments. You can do this via a number of policies which let you access – or 'release' – the equity (cash) tied up in your home, if you're 55+. Until then, you’ll remain a homeowner with no need to move out. There are two types of equity release; Lifetime Mortgages and Home Reversion plans. They are offered by big brand names that are best known for their insurance products or pension plans and specialists that have grown to become leading lifetime mortgage lenders. Equity release is a big step as it will reduce the value of your estate and can affect eligibility for means-tested state benefits. Britannia Financial (UK) Ltd t/a Equity Release Scotland may display this information publicly or provide it to others. Equity release allows people above the age of 55 to unlock the value in their property in return for cash. it may then own 50% of the property and then be entitled to 50% of the proceeds whenever the house is sold – a nice earner if house prices continue to rise. It is important to me that my clients understand the whole process, it is also important that we make sure that an Equity Release … Key Equity Release offer advice on lifetime mortgages only, the most popular form of equity release – there are other ways to unlock money from your home. An equity release mortgage isn’t the only way to use the equity in your home. Equity is the difference between the value of your property and what you owe on your mortgage loan. Our intention is to help you save money by finding the best equity release provider so that you can spend the money on something that … Equity Release. Equity release products let homeowners over the age of 55 borrow some of the value of their home. This can either be received as a regular income or as a lump sum, both of which are tax-free. Your adviser is fully independent and will search the whole market, ensuring they consider all elements of your existing policy to find the best deal for you. Having completed the initial forms we were contacted by a member of the team who guided us through the process. One of Britain’s largest equity release firms has reported that the market hit a new record in 2016, after a fifth year of growth, with retired homeowners withdrawing over £2.1 billion of property wealth last year via some 27,600 plans. You could consider: Remortgaging your home. Tips for choosing the right equity release scheme. This can be done as a lump sum, in regular smaller amounts which incur … Popular uses of Equity Release include clearing an outstanding mortgage, going on holiday, or treating family, although over half use the cash released for home improvements. A whole of market equity release broker service will compare all companies for a list of UK equity release providers, which are those listed above and return to you the best deals available, providing written information on each and a Key Facts Illustration document demonstrating everything you need to know before proceeding. Equity release is a way of unlocking some of the value of your home and turning it into a tax-free, cash lump-sum. Membership at Equity Release Council. Equity is the difference between the current value of your house and the amount you owe on it. A code of conduct was established where certain principles of ethics and plan inclusions needed to be adhered to. However, Equity Release Scotland does not disclose personally identifying information other than as described below. If you are concerned about if you will get the best equity release from the equity release companies available in the UK then you may want to speak to an equity release advisor. June and her now deceased husband had entered into an equity release contract in … However, after many hours reading through various providers offerings I decided to contact 'My Equity Release Expert'. Compare Equity Release is part of the Equity Release Supermarket family, which means you can rest assured that you’re in safe hands if and when you would like to speak to an adviser. Release My Equity is a marketing website which acts as an introducer to independent mortgage advice companies who offer specialist retirement mortgage advice. In return for receiving the equity – the lender takes the appropriate stake in the property i.e. Equity release enables them to invest in a financial product that generates an extra income without selling or moving home. Equity release is, in a nutshell, a way to unlock the value of your property and turn it into a cash lump sum. Home reversion plans include you selling all or part of your property to a reversion company for less than its market value to receive a cash lump sum. You will receive a cash lump sum, or a series of payments, giving you the freedom to spend the money as you wish, and you can stay in your home for however long you choose. Taking out a second mortgage. It’s essentially a long-term loan that’s repaid using your home once you pass away or require long-term care. Each company is authorised and regulated by the Financial Conduct Authority. It is often found to discover individuals looking for lifetime mortgage with flexible drawdown cash release, lump sum life time mortgages or lifetime mortgage with flexible drawdown cash release, however, the Telegraph like The Exeter Equity Release are keen to see paperwork to show your situation in the form of pension statements. Lifetime mortgage providers. Equity release companies include Aviva, Bridgewater, Liverpool Victoria, Just Life and New Life to name a few – many of which offer equity release deals to homeowners at the age of 55 and over. This is an independent marketing website which acts as an introducer to companies who offer specialist Independent Financial Advice. *Equity Release Council Spring Report, March 2019. The Equity Release Council was initially formed in 1991 and was then known as SHIP – Safe Home Income Plans. Equity Release Companies. Each company is authorised and regulated by the Financial Conduct Authority (FCA). But there was a lot of money in it for the equity release company. 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.. Blackberry Mortgage Services offer Equity Release mortgages from the whole market, which means I will find you the best mortgage for your circumstances. Established in 2015, The Equity Release Company are independent Equity Release specialists providing advice and recommendation level of service with whole of market access to all Equity Release providers and products. If the value of your home is greater than what you now owe on your mortgage, you may be able to ‘top up’ your mortgage through Equity Release, which is an additional mortgage loan secured on the property. Lifetime mortgages are by far the most popular types of equity release schemes. Lines are open Monday to Friday, 9am to 5pm (excluding bank holidays). Equity Release Broker/Advisor 20,000 - 30,000 - OTE 55,000 - 60,000 Cardiff Enjoy first rate back up and support which sees national average earnings in year two, in excess of 70,000 across the advisory team. 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