Equity Release

If you are rich in equity in that you own a property but poor in terms of disposable income, equity release can help you to release cash from the value of your property. Structured in the right way, it can enable those aged over 55 to live comfortably.

Rather than working with a big business, with Complete Financial Solutions, your friendly local IFA can help you with equity release, finding the solution that works best for you in your particular circumstances, whether your goal is to pay off loans, make home improvements, travel the world, or simply to have enough money to enjoy your retirement.

There are two types of equity release.

In a home reversion scheme, you will sell all or part of your home but continue to live in the property as a tenant rent-free.

However, the most popular type of equity release is the lifetime mortgage. This offers a long-term loan secured against the value of your home while you continue to own the house and live in it.

When deciding on equity release, money can be received as a one-off lump sum or taken in several smaller amounts, whatever suits your particular needs. The interest rate is fixed: it will not increase. With equity release, you do not need to make any repayments until such time as your house is sold. This will be after your death or if you move into long-term care.

While equity release of any kind will reduce the inheritance you will leave, this should not deter anyone from enjoying their later years without severe financial constraints. Your home will be your home for as long as you want it to be, and the negative equity guarantee means that the money that will eventually need to be repaid will never be more than the value of your home.

Contact Paul or Angela to discuss whether equity release may be right for you and how best to structure it for your total peace of mind.

Want to know more?

Call us for a friendly chat on 01245 209100

or email: info@complete-financial-solutions.co.uk