The advantage of Equity Release for your parents.

Are your parents/grandparents 55 and over? Do they need extra cash for their holidays and for home repairs?

They could consider looking for an Equity release.

What is equity release?

The term equity release is a generic term for products that let homeowners 55+ release the tax-free cash they have locked up in their home.

 

The Equity release mortgage is an option that provides them with more freedom and a higher standard of living in their later years, as they're able to access equity from their property; often with no monthly payments to make.

If they don’t want to sell their home, they could be able to access a large portion of their money from the property they own. They can consider an equity release arrangement to repay their existing residential mortgage and help funds not only their retirement but also to help their loved ones onto the property ladder.

 

Equity release can help them raise funds to spend while enabling them to continue living in their home. It can be used for any reason they wish and is particularly useful for covering large expenses.

Are your parents at retirement age and want the most value to get equity out of their home and help you to get on property lader?

Pat Traynor
Pat Traynor
2022-10-15
Paul was very helpful in sourcing the best equity release deal at a time of sudden increases in interest rates. He kept me Informed during the process and was always available to answer questions. I raised the money to help my daughter buy a bigger flat.
Tim Whitcher
Tim Whitcher
2022-10-09
Very professional and personable, Paul always had the time to ensure that we understood everything and that we got the best deal possible that was right for us.
Cally Bravington-Smith
Cally Bravington-Smith
2022-09-21
Paul has been exceptional during the course of this year helping us buy our next property, his support and guidance through a lengthy and tricky transaction was second to none. Paul is very personable, and unlike many other brokers would work outside the normal 9-5. Always had our best interests in the forefront. Highly recommend :-)
Charlotte Faucher
Charlotte Faucher
2022-09-19
Benefiting from Paul's expertise to help us secure our first mortgage was very precious. Paul was always available to answer any query we had, and he submitted our application very quickly once we had gathered our documentation. I've already recommended the company's services to friends!
Louisa Smurthwaite
Louisa Smurthwaite
2022-08-03
Paul helped me find a new mortgage. His knowledge was invaluable. Adding to this, he was extremely patient with me while we navigated some complex decisions. Thanks Paul, amazing service!
Sinead Ennis
Sinead Ennis
2022-07-18
The whole process of getting the right mortgage was made easy, with continued support all the way through. Highly recommended.
Daniel Lee
Daniel Lee
2022-06-17
My girlfriend and I are buying our first home and Paul has been absolutely fantastic every step of the way. He’s knowledgable, friendly and very approachable, regardless of the time of day, even replying to emails at gone 9 o’clock at night! Would definately recommend and will definately be using in the future!
Chris Healy
Chris Healy
2022-06-13
Paul has been incredibly helpful and informative every step of the process of me owning a property, as a first time buyer there was I lot I didn't know and he's really gone the extra mile for me.
Paul Ho
Paul Ho
2022-04-15
Paul's dedication, expertise and attention to detail was instrumental in securing the deal for my house purchase. In my opinion his fees was money very well spent, and would recommend him without hesitation.
Panos Savvas
Panos Savvas
2022-04-01
Paul worked with me and my wife to find the right mortgage and insurances needed for our new home. He's is very knowledgeable and professional. I never felt rushed or uniformed. He really went out of his way to ensure we had all the information we needed and guided us through the process. Beyond that Paul went above and beyond in working with our conveyancer and the estate agent to assist in our exchange and completion. I would not hesitate to recommend him or use him again in the future.

You should seek professional advice before proceeding to take out any equity release mortgage as it could impact your entitlement to state benefits.

How does equity release work?

An equity release provider will provide you with either a lump sum or an income in exchange for part of the value of your home. This is achieved either using a type of mortgage or by selling that portion of your home on the condition that you can continue to live there as long as you wish.

Consult with a professional

As independent advisers we provide you with a written recommendation and will let you know if equity release doesn't meet your needs.

Completing the equity release application

We will then submit the equity release application. We will also introduce you to suitably qualified and experienced solicitors to assist with the legal side of the transaction.

Completion / Receive your money

Once the provider has completed their checks, the property surveyed and the solicitors completed the legal work on behalf of you and the provider you will reach completion. The funds are then released directly to you.

What’s the benefit of Equity Release for your parents over 55?

With an Equity Release scheme, they are able to release funds from their property so they have access to them now and are able to spend them as they wish. They also have the choice of no monthly payments, so they can not only enjoy the funds they’ve raised but also do not have to worry about monthly payments when in retirement.

 

✅Lump-sum of tax-free money.

✅Keep living in their own home.

✅There is no monthly repayment option.

✅Make repayments if they wish.

✅Make a cash reserve available.

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Many people haven’t heard of the equity release yet, but it still remains one of the most cost-effective ways to have their mortgage set up and has multiple benefits to them.

How Equity Release can help your parents over 55?

Repay existing mortgage as they approach retirement.

Now they’re approaching retirement it’s a good time to repay their existing mortgage so they no longer have any monthly mortgage payment to make, as typically their monthly net surplus income will decrease as they reduce their hours or stop working altogether in retirement.

Raising funds to gift and support loved ones onto the property ladder.

Releasing funds to gift to their loved ones to help them onto the property ladder and by gifting now they get to see them enjoy that gift and help them with their financial future.

Fund travelling and holidays in retirement.

Wanted to always book that world cruise? Go travelling for 6 months? Now your parents can sit back, relax and unwind with the available funds to book those trips they’ve always wanted to do!

Provide funds to draw on to top up existing pension & savings income.

Typically as your parents retire their income drops, so by taking capital out of their property they can use that to pay for things and top up their income in retirement.

Reduce your parents' inheritance tax liability.

By gifting early there are potential inheritance tax advantages. We can introduce them to an accountant who can confirm their potential options relevant to their own individual circumstance.

Capital for home improvements.

Need to fix up the house? Need a new bathroom? New kitchen overdue? Now your parents can release the capital required to complete those works so they can enjoy their new home in retirement.

Are you looking for a deposit for your property purchase?

If your parents own their own home and 55+ they maybe able to help raise the deposit for you as a gift.

Even better they won't need to make any monthly repayments!

Let's see how equity release works to help with your property purchase?

Your parents can receive a percentage of the value of their property by doing an Equity Release and giving you part of the tax-free money they raise.

Why choose us

✅Relationships with the mortgage lenders and decision-makers so your application gets treated on merit and not just by a computer making the decision.

✅Qualified and experienced mortgage brokers who are here to help you get the most suitable possible deal - we work for you, not the banks!

✅Access to 90+ Banks, Building Societies and specialist lenders so whatever your circumstance we will know a lender who can consider your application.

✅Access to exclusive "Broker only" rates and products so we can get you the most suitable terms possible for your circumstance.

✅Face-to-face. After your initial inquiry, we will arrange a face-to-face meeting over Zoom.

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THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
 
This is a lifetime mortgage (home reversion plan). To understand the features and risks, ask for a personalised illustration.  
 
 
Your Property Financial Ltd (FCA Number:942504) which is an appointed representative of PRIMIS Mortgage Network. PRIMIS Mortgage Network is a trading style of Personal Touch Financial Services Ltd (FCA Number: 187834) which is authorised and regulated by the Financial Conduct Authority.
The Financial Conduct Authority does not regulate some forms of buy-to-let, overseas and commercial mortgages.
 
We usually charge a fee for mortgage advice. The amount of the fee will depend upon your circumstances and will be discussed and agreed with you at the earliest opportunity.
Your Property Financial Ltd. Registered in England and Wales company number 12940973. Registered office address 5 Ducketts Wharf, South Street, Bishop’s Stortford, Herts, CM23 3AR.
 
The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.
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