Equity Release
What Is Equity Release?
Equity release is a way to unlock the value of your property and turn it into a cash lump sum or receive several smaller amounts so if you are thinking about equity release, it needs careful consideration.
If you are 55 or over you could be able to release equity using a lifetime mortgage, which is a loan taken out against your home. You continue to own your home and you can stay living in it for as long as you like.
The loan is then repaid from the sale of your property when you die or enter long term care or even downsize.
Get In Touch
Tel: 01603 300 995 / 07739 641337
Email: info@anglianmortgages.co.uk
Visit Us:
16 Station Road
Salhouse
Norwich
NR13 6NX
Making An Informed Decision
There is much to consider when thinking about equity release, and to help you make the right decision our advice is tailored to meet your needs, we will also make sure that you have the information and time required to make an informed choice before your decision to proceed.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Our Advice
We strongly recommend you discuss your plans and involve your family, however If you decide not to involve them, you may wish to let them know that any future inheritance will either be reduced or eliminated.
If you chose not to involve family members, then we would suggest discussing your plans with a trusted friend. It is also good to inform the executors of your estate, as they may have to deal with the equity release provider when the house is sold.
Home reversion plans and lifetime mortgages are complex products. To understand the features and risks, ask for a personalised illustration. Equity release will reduce the value of your estate and may affect your entitlement to means tested benefits.
