Our team of experienced equity release mortgage brokers will guide you through the process of unlocking the equity in your home, so you can enjoy a more comfortable retirement or achieve your financial goals.
Don’t let your home’s value go to waste. Contact a trusted equity release broker today and discover how you can make the most of your property.
With our fully regulated, professional guidance on equity release in Hampshire and Basingstoke, we ensure you receive honest, straightforward advice from qualified equity release advisers who are here to support you.
If you’re looking for independent equity release brokers, we make the process smooth, secure, and stress-free.
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Finding the right equity release solution can feel overwhelming, but it doesn’t have to be. Our experienced equity release broker team in Basingstoke will take the time to understand your needs and guide you every step of the way, offering clarity and reassurance throughout the process.
Equity release schemes involve either a lifetime mortgage or a home reversion plan. With a lifetime mortgage, you take out a loan secured against your property, and the loan, plus interest, is repaid when you pass away or move into long-term care. With a home reversion plan, you sell a portion or all of your home to a provider in exchange for a lump sum or regular payments while retaining the right to live in the property.
To be eligible for equity release, you generally need to be at least 55 years old and own a property in the UK that meets certain criteria, such as being of a certain value and in reasonable condition. Lenders may also consider factors like your health and lifestyle.
The amount you can release through equity release depends on various factors, including your age, the value of your property, and the type of scheme you choose. Generally, the older you are and the higher the value of your property, the more you can potentially release.
With a lifetime mortgage, you retain ownership of your home. However, with a home reversion plan, you sell a portion or all of your home, but you still have the right to live in it until you pass away or move into long-term care.
No, there are usually no restrictions on how you can use the money released through equity release. You can use it to fund home improvements, pay off debts, support your lifestyle, or help your family financially.
Equity release is a long-term commitment that can have financial implications. The loan amount and accumulated interest can erode the equity in your property, affecting any inheritance you plan to leave behind. It’s crucial to seek independent financial advice and consider the potential impact on your finances, eligibility for means-tested benefits, and tax implications.
With a lifetime mortgage, you may be able to move home, but it’s essential to check whether the new property meets the lender’s criteria. Some lifetime mortgages are portable, allowing you to transfer the loan to a new property, while others may impose penalties or restrictions. Home reversion plans may have limitations on moving home.
Releasing equity from your home can affect your eligibility for means-tested benefits, as it could increase your overall assets and income. It’s advisable to consult with an independent financial advisor who can assess your specific circumstances and provide guidance on potential benefit implications.
It’s crucial to research and compare equity release providers to find the most suitable one for your needs. Consider factors such as interest rates, fees, reputation, customer reviews, and independent advice availability. Consulting with an independent financial advisor who specializes in equity release can also help you make an informed decision.
Your home may be repossessed if you do not keep up repayments on your mortgage.
A lifetime mortgage is a long term commitment which could accumulate interest and is secured against your home. Equity release is not right for everyone and may reduce the value of your estate.
