As an independent equity release provider, we offer a full range of options by searching the entire market. Our goal is to provide you with the most suitable plan, and we take full responsibility for ensuring that we recommend only safe plans that are protected by the Financial Conduct Authority (FCA) and the Equity Release Council. We offer a free initial consultation with a fully qualified specialist adviser, and we are qualified to offer advice on both Lifetime Mortgages and Drawdown Lifetime Mortgages. Our advice is unbiased, as we are not tied to any one provider.
After the consultation, you will receive a personalised illustration and report detailing our recommendations. There is no obligation to proceed, and there are no fees charged until an offer is made. We handle all the work involved, from start to finish, including completing paperwork and applications, communicating with the provider and solicitors, and keeping you informed throughout the process.
A lifetime mortgage is a type of equity release for homeowners over 55 that allows them to access their home equity through a loan secured against their property, receiving either a lump sum or a regular income.
A drawdown lifetime mortgage is a loan secured against a property, allowing homeowners over the age of 55 the flexibility to access funds as they require them as needed and pay interest only on the withdrawn amount.
You will usually qualify for an equity release scheme if:
This depends on your age, health, property value and the type of equity release scheme. A typical lifetime mortgage will allow you to raise between 25% and 57% of the property value however the percentage will be restricted by the youngest applicant or enhanced by specific health conditions. The older you are when you take out any plan, the more you will receive.
Yes, however your new property will need to be approved by the plan provider and they will have their own set of terms to be met.
Releasing cash from your home could affect your entitlement to state benefits. Means tested benefits such as Pension Credit and Universal Credit entitlement may be reassessed. Capital held in savings or an increased income could affect these benefits. We will notify you if releasing capital from your home is likely to affect any state benefits that you receive.
If the value of your home should fall you would be protected by a ‘no negative equity’ guarantee which ensures that you would never owe more than the value of your home. If house prices rise you would benefit unless you had transferred 100% of your property under a home reversion plan.