The Equity Release Hub

Have you already taken out an  equity release  plan and would still like to save more money? You can switch or release more. Contents The Possibility of Switching Equity Release Plan? Interest rates have shown some stability lately as new financial products are becoming available all the time. Therefore, it is right for you to keep exploring the market for more profitable, better deals which could save you money. For people that are already engaged in an equity release plan, their most common concern remains whether they can switch from one scheme to another with ease. Equity release mortgage is no longer a one-off transaction anymore, and older equity release customers must realise the fact that they can switch their current equity release scheme to a more competitive plan. Thinking of Switching Equity Release Mortgages? Switch to a more competitive equity rel

Contents 12 Practical Uses for Home Equity Release Older homeowners live to see the value of their estates multiply, and they earn thousands in tax-free money from each of their estates, making their estate wealth soar to record highs. With this in mind, you can imagine why  equity release  has risen to become the most popular retirement financial plan for many. Whilst some may still opt to downsize, it usually presents a challenge when it requires you to move away from your family. Equity release enables you, as a proprietor, if you are 55 and above, to borrow funds against the value of your home and repay it when you die or move into a care unit. The most popular equity release examples include  lifetime mortgages  and home reversion plans. These schemes offer a lifeline too many with debts or shortfalls in your pension income. What Can Equity Release Be Used For? This article will provide you with 12 of the most practica

Contents Equity Release Frequently Asked Questions Daily, people ask our adviser’s lots of important and exciting questions about  equity release . We’ve therefore compiled a comprehensive list of the most frequently asked questions that we’d like to share with you below. Can I take out equity release on a property with a trust registered to it? No, you cannot. The lender will have to agree to leave the trust in place (and we currently lack any knowledge of any lenders who can), You must wind up the trust before you can complete the equity release. The rules of a trust assert that all equity in a trust must go to the sole beneficiaries. The nature of equity release mortgages makes it necessary for lenders to require property free from preventatives such as trusts and loans secure before you complete the process. Perhaps your property has a trust registered in it. We recommend you get independent and

  Contents What is Equity Release? What remains from the total value of your property after you subtract the sum of your mortgage and other loans secured against it is what we refer to as equity. Therefore,  equity release  is a contract that enables you to access money from your equity without having to move out of your home. You may get the money as a lump sum or regular smaller payments, or both. Usually, this plan is available to people at least 55 years old. Be sure to access professional advice before getting an equity release scheme because you need to understand the terms and conditions. Some Important Facts About Equity Release Equity release may look like the best option if you need some extra money and don’t want to move house, but there are essential facts to consider: First, the  cost  of equity release may be higher than an ordinary mortgage. Especially when you take out a lifetime mortgage, you will t

  Contents Wonder How Long does the Equity Release Process Take? Are you a homeowner that is over 55 and still struggling to keep up with the needs of your lifestyle needs? Perhaps you need some more funding to cater for your desires? Then you must engage with your financial adviser immediately to make plans towards how you can take out a profitable  equity release . Equity release permits you as a homeowner to attain your future financial desires by enabling you to unlock the equity value that’s accumulated in your property. It’s a more sustainable means to gain money that you’ll only repay after you die or move into residential care. The process is to comprehend and aboveboard. This article will be your all-encompassing guide on the process you will undergo as you apply for equity release. What’s the Equity Release Application Process? First, you must get a transparent and customised service in which experienced frie

   Contents What Is The Equity Release Council? Initially known as the Safe Home Income Plans (SHIP), the Equity Release Council is an unregulated organizational body of trade that’s consumer centric and focuses on representative lobbying, leading and setting high standards of awareness and service for consumers on how housing wealth can help various financial challenges. The Equity Release Council has carried on to represent the  equity release  sector for over 30 years and it exists to promote higher qualities of practice when advising people on equity release, which has precautions safeguarding consumers at its core. The set standards and safeguards have enabled the sector to grow immensely, which has given financial advisers and their client’s enormous confidence in the products and dispelled contradictory myths regarding equity release. The public has sufficiently been getting educated about potential access to the

  Contents 4 Costs of Releasing Equity You Must Know Equity release  is a loan method of accessing the monetary value of your home whilst being able to still living in it. The loan typically gets once you die and they sell your home. It’s usually like a mortgage you get on your house that you only pay off when you die. Hence, if you’ve got no one to leave an inheritance for, it’s a decent but expensive way to raise cash. If you have people you want to inherit your assets, then an equity release will minimise what you can leave. What Are The Costs of an Equity Release? With people widely understanding  how these schemes can help  them in their financial challenges, equity release is presently receiving a lot of recognition and hype and widely turning into a mainstream mortgage lending product. It differs totally from conventional mortgage packages and offers more varieties to those living in retiremen

   Contents Which is the best equity release company? A lifetime mortgage remains to be a much more popular form of  equity release , as compared to its alternative: the home reversion plan. Depending on your circumstances and needs, you find the equity release plans on the market have varying benefits that range from the flexibility to cheaper plans. Here we’ll underline the best equity release provides for  lifetime mortgages  that are under regulation by the Financial Conduct Authority. Top Five Equity Release Providers More 2 Life: Best for flexibility If you need the most  flexible equity release plans  on the market, you might not have to look beyond More2Life. Because most of its products maintain a fixed early repayment charge, which will fall the more extended the loan period it. It has a capital choice range of products which have early repayment charges of 5% only in the first five years, and it fall

  Contents What are the Equity Release Options?  Even though there are thousands of people using equity release to fund things such as improvements in their homes and to repay debt- it’s not a preference for all. Financial freedom may be a desire for everyone, but you must weigh all your options before you pick equity release as your means to raise money. Below are the ten best alternatives to equity release: #1. Selling Your Assets Many people usually have their homes as the most significant asset. But perhaps you have other assets or belongings that you might rid of or release equity under to gather the funds you need. This option is not a suggestion to sell priceless family heritages, though there may be other assets you’d barely notice if they went. #2. Re-mortgage Consider contacting your lender and find out how flexible they are with extending the current mortgage agreement that you have. The other optio