Equity Release
Lifetime Mortgage
A percentage of property value is released as cash or income, you continue to live in and own the property; until death or you go into long term care. Interest is charged on the amount released.
- Suited to homeowners over the age of 55.
- Who wish to retain ownership
- Money for any purpose
- No monthly repayments
- Right to remain in the property
- Portable to another property
- Secured by a charge on the property
You take out a Lifetime mortgage no repayments are required, interest rolls up and is repaid either by sale of the home or other means any balances will go to you or your estate. You might choose to repay the interest.
You benefit from capital value growth in the property as you still own the property.
Releasing capital may affect your entitlement to means tested state benefits.
It is a long-term commitment and will reduce the inheritance available to your family. This can be a benefit for some who might be subjected to Inheritance Tax charges.
Home reversion scheme
Home reversion involves the sale of all or part of the property in exchange for cash or income and the right to reside for as long as you wish rent free. Till death or long term care is needed.
- Suited homeowners over age 65
- Money for any purpose
- Right to remain in the property
- You will not own the property
- Generally a larger lump sum paid
- Can retain a share of the property
- Portable to another property
You sell all or part of the property, no repayments are required and no interest is rolled up. House is sold on death / entering into long-term care or at your request the remaining share if any will then pass to your estate.
No benefits from growth unless you have a percentage share ownership.
Releasing capital may affect your entitlement to means tested state benefits.
This can affect the inheritance you leave behind and can in some cases be used to reduce tax burdens through timely disposal of assets.
These plans may appear very much the same, but the differences are great and can be suited to very differing situations. We offer independent advice and guidance in what will be a massive decision, reviewing the whole market to assure you of the best deal suited to your situation. Making the decision easier and considering all the alternatives. You can continue to enjoy your home and your lifestyle without the worry.
SHIP means that if prices fall you will never owe more than the value of your home.(No negative equity guarantee)
Useful Links
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info@b-advised.co.uk |
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There will be a fee for Equity Release advice. The amount will depend on your circumstances. A typical fee would be £450
TO UNDERSTAND THE FEATURES AND RISKS ASK FOR A PERSONALISED ILLUSTRATION. AN EQUTY RELEASE PLAN WILL REDUCE THE VALUE OF YOUR ESTATE, WILL NOT BE SUITABLE FOR EVERYONE AND MAY AFFECT YOUR ENTITLEMENT TO STATE BENEFIT .
