It is a fact that most people’s financial wealth in the United Kingdom is tied up in their property.
Furthermore, many retired people in Northampton consider themselves “cash poor but property rich”. Equity release can be used in later life to supplement pension income or used to finance major items of expenditure.
These can include-
- Home improvements such as wet rooms and stairlifts
- Gifts to children and grandchildren to help them on the property ladder.
- Pay off mortgage debts
- A special holiday or a new car
In fact, you can do virtually anything you want with the money and it’s tax-free.
What is equity release?
Equity release allows homeowners aged fifty-five and over to release equity tied up in their property without the need to move house. Unlike a traditional mortgage, the plans do not have a set repayment term. They also allow you to remain in your home for the rest of your life.
There are two types of equity release schemes-
Home reversion plans.
These are less popular. You sell part or all of your home to a reversionary provider in exchange for a cash lump sum.
You can find out more on our website
This is the most popular type of plan. A key difference is that with a Lifetime Mortgage you retain full ownership of your property. The interest can be rolled up (compounded) and repaid in full from your estate or if you move into long-term care.
Is it right for me?
Equity release plans are not right for everyone and it is important that you fully consider your options. We are independent equity release advisers who will work with you and at your request, your family.
It is also important that, if you do decide to use an equity release product, you choose one that meets your needs. We feel that the need for independent advice is very important.
Taking an equity release plan is normally seen as a long term option. There are flexible plans available that may fit your needs and some will allow you to repay them in full in the future without any penalties.
Our team of financial advisers can help you to choose the plan that is right for you. We will get to know your financial position and what you are trying to achieve. When we fully understand your needs we will make a recommendation.
John Cossons, an adviser with Equity Release Northampton said-
“When designing a long term financial solution I always feel that you should take your time. Receiving professional, unbiased, independent financial advice is paramount.”
How Equity Release Northampton can help you.
We are a firm of Independent Financial Advisers. This means that we look at all the options available to you. Not just Equity Release. Our advice is unbiased and from the “whole of the market”. Also, we are members of The Equity Release Council.
The initial meeting is free of charge and without obligation. Meetings can be arranged at a time and location that is convenient for you. This includes home visits. Why not arrange a meeting today?
Alternatively, you can come to our Head Office in Kettering.
Finally, our advisers live and also make use of meeting rooms across Northamptonshire–
These products are lifetime mortgages or home reversion plans. Equity released from your home will be secured against it.