Equity Release

Unlocking Your Home's Value: Exploring Equity Release Options

Discover the benefits and considerations of equity release, empowering you to make informed decisions about your financial well-being in later life.

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What is Equity Release

Equity release is the collective name for products that provide home owners aged 55 to 95 with a way of releasing some of the wealth tied up in their property without having to sell it and move to another home.

For many people, their property is their biggest asset. Unlocking this value via equity release is an option being considered by an increasing number of over 55s as a way to help financially plan for retirement.

Equity can be released via a lump sum or in stages via drawdown to help provide an additional source of funds or income in later life, with a growing choice of product features and flexibilities:

Tax free cash

Unlock cash from your home if you’re 55 or over.

Regular income

Get a tax-free lump sum or drawdown as a regular income.

Stay in your home

Live in your home throughout retirement.

Our Equity Release Advice Service

With over 20 years’ experience in helping clients of all backgrounds to improve their standard of living in retirement, our advice service is dedicated to providing a safe, sound, common sense approach to finding appropriate solutions for our clients to achieve their retirement goals.

We put your needs and interests at the core of our advice service, treating customers as family members, providing the right solution to support you in your retirement. And as part of our advice process, we encourage involvement from your own family/ beneficiaries to help you in your decisions should you wish.

Equity release is not a one size fits all product and is not suitable for everyone. As part of our advice service, we will discuss and review eligibility for alternative options, including conventional and later life mortgages, as these may be more appropriate for some clients.

Our advisers will take personal responsibility for your application and ensure you are updated each step of the way. We actively ask for and welcome customer feedback regarding our service which will help us to identify and address improvements opportunities. 

IMPORTANT INFORMATION ABOUT EQUITY RELEASE

Here’s the need to know info, so you have the full picture

  • Releasing cash from your home will reduce the value of your estate and may affect your entitlement to state benefits.
  • You are not required to make repayments, therefore the loan plus interest can grow very quickly.
  • These are lifetime mortgages. To understand the features and risks ask for a personalised illustration.

  • Choosing the most suitable product will depend on a number of considerations, including: 
    • How much equity needs to be released and in what form.

    The age of the homeowner.

    How much, if any, the homeowner wants to leave as an inheritance .

    The value of the property.

EQUITY RELEASE PRODUCTS

We know your home is important to you, that's why lifetime mortgages are clear and straightforward

Lifetime Mortgage Lump Sum

If you need to release equity for a specific one off expense such as home improvements or to pay university fees, it may be better to borrow a one off lump sum.

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Lifetime Mortgage Drawdown

Rather than just receiving a one-off lump sum, you have the option to release your cash over time, as and when you need it.

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CONSIDERING YOUR OPTIONS

Equity Release isn’t for everyone, so it’s important to understand the benefits and what to consider.

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Advantages of Equity Release

Get a tax-free cash lump sum

The tax-free cash can be taken as either a lump-sum or you can 'draw down' the money as income depending on the option you choose.

You still own 100% of your home with a Lifetime Mortgage.

If you pay off your current mortgage with the lump sum, you can choose to spend the leftover cash on whatever you want.

Things to Consider with Equity Release

The money you release from your home could affect any means-tested benefits you’re entitled to now or in the future.

The money you release is paid back after you die, from your estate. This means the size of your estate, and the amount you can pass on to your loved ones, could go down.

The money you release from your home is a loan, and interest will be repaid when you die or if you move into long-term care.

You have to take advice to release equity from your home. Initial advice is free, and there is no obligation. If you decide to go ahead the fee will be up to £1,295. 

If you're looking to find some extra money in retirement, Equity Release isn't the only option. There are lots of alternatives like downsizing your home or taking out a personal loan.

We're members of the Equity Release Council

All our advisers are members of the Equity Release Council and following strict guidelines, so you will be in safe hands. We will never suggest equity release, unless it’s right for you.

Equity Release Council

Need help?

our Advisors are here throughout the day to help with any questions you may have

01302 496 300
Mon to Fri - 9am - 5pm
Sat - 9am - 1pm
calls may be recorded for training and compliance purposes
 
help@futurewise.co.uk


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Pense is a trading style of Ashcroft Financial Solutions Ltd which is authorised and regulated by the Financial Conduct Authority number 231629. Find us on the FCA Website here