The INFORMED Overview

If you own your own home and are 55 or over, Equity Release could provide you with a lump sum payment or additional income without moving. There are two basic regulated schemes to chose from either Lifetime mortgages or Home Reversion Plans. However they are somewhat complicated and need careful consideration.

Equity Release – The key pointers

  • Equity Release is government regulated
  • There are two different schemes each with alternatives
  • Careful consideration is important with implication to your future beneficiaries so legal advice is critical

Equity Release

Equity Release allows you to release  equity  tied up in your home without moving. The schemes have no fixed term allowing you to stay in your home  without interruption unless you have to move  to long-term care or do not meet the terms of the contract, such as you letting your home fall into disrepair. Equity release schemes can be helpful in certain circumstances, but are not suitable for everyone.

You should consider:

Lifetime Mortgage

In which  the mortgage does not have to be paid  until  your death or move out. So at that time your home is sold to repay the mortgage. If there are insufficient funds then your nominated beneficiaries will be liable so most Home Reversion Scheme do have a no-negative-equity  guarantee. But it means you should also seek legal advice at the same time.
There are several types of Lifetime Mortgage to consider.

Home Reversion Plans

There are currently three different providers all of which mean in effect selling part of the value of your house. Costs can be more than lifetime mortgages.

Informed can guide you through the options and costs with the aim to achieve the right outcome of cash available with the optimum outcome and most suitable conditions. We can also help turn the lump sum into a regular income.

Capitalising on the value of your home without having to move can be advantageous but needs careful consideration

Of course our first meeting leaves you with no obligation or cost. We look forward to helping you to become informed.

Make your first step towards getting in touch

Simply call 01628 638822 or just use the reply email.

  • ‘Informed made the whole process easy and we are enjoying our new home’