For many older homeowners, their property is their biggest asset, and as they approach retirement, that wealth could be unlocked to ensure a happy future, topping up pensions for the small – and large – luxuries you deserve.
Equity release, sometimes called a Lifetime Mortgage, can provide a cash lump sum based on the property’s value, as well as your age and state of health. With around 850 products available, through numerous lenders, it is essential to precisely clarify exactly what you would like to achieve through discussion with independent advisers.
Should you decide to go ahead, you will still own your home, and can live there for as long as you wish, with repayments only due when you die or move into long term care and have to sell.
There are no limitations on what you can do with the cash sum and there’s plenty of uses for equity release, whether a home extension, garden redesign, a new car, world cruise or investing in a family project. The first stage to secure the funds is to start those discussions, and at Premier Equity Release, we can meet either in our office or your own home – always on a face to face basis.
You can be frank about personal circumstances, in the knowledge that any information will be treated in confidence. For example, current income, investments, details of any mortgage or other outstanding debts, as well as if you are in receipt of State benefits. Involving family members is usually helpful, so everyone understands the long term financial position.
With all relevant information, our advisers can research and recommend the most appropriate scheme to realise your ambitions, and, with your agreement make a formal application on your behalf. The lender will arrange to have the property valued and, when fully satisfied with all the data, the money should be released within 6 weeks via your solicitor.
For more information, give your experienced, friendly, advisers at Premier Equity Release a call to arrange a meeting, and enjoy your retirement to the full.