Equity Release

Equity Release will reduce the value of your estate and can affect your eligibility for means tested benefits.

Equity Release is a lifetime mortgage or home reversion scheme. To understand the features and risks, ask for a personalised illustration.

We charge a fee of £795.00 for equity release arrangement.

Equity release schemes can be very helpful but are not suitable for everyone. It is important to understand the risks and to understand the cost, the level of flexibility (if you want to move home) and the possible impact on future state benefits.

Owning your own house and making it your home takes time and commitment. If your heart is set on staying in your home for as long as you can and downsizing really isn’t for you, then equity release may be the answer you are looking for if you want to release some of your hard earned capital.

This could give you a more comfortable retirement and you could use these monies to:

  • Top up your income
  • Make some home improvements
  • Pay off a mortgage or other debts
  • Go on a holiday of a lifetime
  • Help your children or grandchildren with their university fees or buy their first home

The choice is yours. We are here to advise you about the process and find the most appropriate solution for you.

There are two main ways to release money from your property:

1) Lifetime Mortgage:

This involves taking out a mortgage on your home. You still own your own home and you don’t make any monthly payments as the mortgage becomes repayable when you, or your executors, sell your home. Moving house is usually still an option, providing you transfer the plan to another suitable property. However, please note not all schemes offer this facility.

To understand the features and risks of such schemes ask for a personalised illustration.

2) Home Reversion Plan:

This involves selling some or all of your home to a 3rd Party and retaining the right to live in the property, rent free, for the rest of your life or until the house is sold. Growth in the value of the property belongs to the new owner.

Palmer & Associates do not recommend Home Reversion Plans except in exceptional circumstances; please contact us for further information.

3) Advice You Can Trust:

Thousands of people every year choose equity release. It is a lifetime commitment so it is crucial to select the right scheme and that is why good advice is so important.

At Palmer & Associates we do everything in our power to make sure we get the most appropriate equity release scheme for you and your circumstances. We have carried out considerable research and soul-searching, which means:

  • We only recommend lifetime mortgages
  • We only recommend Equity Release schemes offered by members of the Equity Release Council, an organisation dedicated to the protection of equity release customers. This ensures providers adhere to a strict code of practice.
  • Our fully qualified and experienced advisor will always go through your individual circumstances face to face and guide you through the options open to you.
  • Our advisor will answer all the questions you have and review all the equity release schemes that meet your needs and then make a formal recommendation in writing.
  • We insist that your solicitor goes through all the terms & conditions and implications of the equity release contract with you to make absolutely sure you understand the commitment you are making.

Please note: We strongly advise when considering any lifetime mortgage to discuss the implications with your immediate family. You are not obliged to do so but we strongly recommend that you do.

To understand the features and risks of a lifetime mortgage or home reversion plan ask for a personalised illustration.

If you would like us to help you release funds from your home, call us on 01452 541679 or email us today. We are here to help you.

Equity Release is a lifetime mortgage or home reversion scheme. To understand the features and risk, ask for a personalised illustration.