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| Equity Release Guru | 01924 792182 | info@equityreleaseguru.co.uk | https://equityreleaseguru.co.uk/ |
| Responsible Equity Release Wakefield | 01924 210682 | info@responsiblelife.co.uk | https://www.responsibleequityrelease.co.uk/ |
| MCAL Equity Release | 0800 612 9213 | info@mcalequityrelease.co.uk | https://prnt.sc/umjs89 |
| Giraffe Equity Release | 01872 859414 | hello@life-time-mortgage.co.uk | https://www.life-time-mortgage.co.uk/ |
| Paxton Equity Release | 01892 617070 | martin@paxtonuk.com | https://www.paxtonequityrelease.co.uk/ |
| Equity Release Mortgage Advice Ltd | 01462 341241 | info@er-ma.org | https://equityreleasemortgageadvice.org/ |
| JBM Equity Release Mortgages | 01792 81 48 88 | admin@jbmmortgages.co.uk | http://www.jbmmortgagebrokers.co.uk/ |
| Responsible Equity Release | 0800 012 4180 | info@responsiblelife.co.uk | https://prnt.sc/u22dfw |
| Equity Release Scotland | 0141 887 8786 | info@equityreleasescotland.com | https://www.equityreleasescotland.com/ |
| Alan Rait Equity Release Advice | 07747 056788 | https://isequityreleasesafe.co.uk/ | |
| Equanimity Independent Financial Advisers | 020 7713 9356 | info@eq-ifa.co.uk | http://www.eq-ifa.co.uk/index.html |
| Equity Release Sussex | 01903 890660 | john.whyte@equityreleasesussex.co.uk | https://www.equityreleasesussex.co.uk/ |
| Equity Release Advice | 01202 896 037 | bob.ducker@mortgagemarketplace.net | https://www.theequityreleaseadvice.co.uk/ |
If you are looking for Equity Release Brokers then you have come to the right place. Mortgage brokers network have one of the largest selection of mortgage brokers and mortgage advisers waiting to help you. Mortgage brokers and mortgage advisers can find the best mortgage for you and apply for the mortgage on your behalf.
The equity release Mortgage advisers will review the options available to you based on your personal financial situation. They can save you a lot of time by telling you which companies are likely to accept you. They will also show you if you could improve your application, and could help speed up the process by dealing with some of the paperwork.
The equity release mortgage advisers could actually save you a lot of time and stress. They will handle everything from start to finish. Firstly searching for the right deal to applying and communicating with the company on your behalf.
Firstly, you should check that your adviser is authorised to give advice by consulting the Financial Services Register. Before you actually formally apply for a product. The adviser should thoroughly explore your financial circumstances. They should thoroughly explain what types of products there are and the different deals available. They should advise you on which deals they feel meet your needs and give you clear justifiable reasons why they’re recommending a particular deal.
If for any reason you think you’ve received bad advice, you can make a formal complaint. Firstly speak with adviser that advised you to see if they can offer a solution to the problem. If they don’t resolve your complaint satisfactorily within eight weeks from the date you complain. Then take your complaint to the Financial Ombudsman Service (0800 023 4567).
Equity release refers to a range of products letting you access the equity (cash) tied up in your home if you are older. You can take the money you release as a lump sum or, in several smaller amounts or as a combination of both.
The main disadvantage of equity release is that it does not pay you the full market value for your home. You will receive far less money than you would from selling the property on the open market – although of course in that situation you would still have to find somewhere else to live.
Equity release can be a good idea for older people who would like to gain some extra cash in retirement. Equity release can help you make home improvements, pay for the costs of care, help a loved one who is struggling financially, or pay off other debt. However, the release of equity is not suitable for everyone
Equity release is a way of taking out cash from the value of your home, if you’re aged 55 or over, without having to move. It’s a long-term loan that’s eventually repaid using your home once you pass away, or if you need to go into long-term care. Until then, you’ll remain a homeowner and won’t need to move out
What are the interest rates for equity release? The average equity release interest rate was approximately 4% on 11 January 2022. The interest on your lifetime mortgage will depend on how long it runs for and what type of plan you choose
There are many alternatives to Equity Release. These include: Selling assets, remortgaging, asking for help from family and friends, grants, moving to a cheaper home, state benefits, renting a room, budgeting, changing employment, or simply doing nothing.
The most popular age bracket for taking out equity release has risen over the past decade from 65 to 69, to 70 to 74. But, as the popularity of these loans has grown, more borrowers aged 55 to 59 are also taking out the costly debt
Yes, you can sell your house if you have equity release. An equity release product, such as a lifetime mortgage, can be repaid at any point and by any means
With equity release you can borrow around 20% to 60% of the value of your home with a lifetime mortgage, or as much as 80% to 100% of the property’s value if it is a home reversion scheme. Equity release is commonly used to release money that is tied up in your home and the minimum age requirement is 55 years old
The lowest Equity Release interest rate is currently 3.67% (AER) fixed for life. The highest interest rate in the market is 7.10% (AER). In the Spring 2021 Market Report, the Equity Release Council stated that average interest rates for Equity Release were 3.95%
As long as you meet all the equity release criteria set out below, you’re unlikely to be refused equity release, particularly if you have a specialist adviser to support you. However, be aware that you could be refused if: you don’t have buildings insurance in place.
Equity release enables homeowners to retain the use of their home while obtaining an income or funds from it. A lifetime mortgage is one of the two main types of equity release products, the other being a home reversion plan.
Equity Release does not impact your State Pension entitlement. As the money released is a loan, it is not income, so there is no tax to pay. However, if you receive Pension Credit (a means-tested benefit), your entitlement and the amount you can claim may be impacted if you exceed the savings threshold (£10,000)
It usually takes around eight weeks for an equity release application to complete and for you to receive your funds. Some applications complete in as little as three weeks, however, some complicated cases can take many months
There are two main types of equity release scheme: lifetime mortgages and home reversion plans
Equity release funds are tax-free and can be used for anything you wish (providing it is legal). The most popular uses of equity release funds are: repaying mortgages and unsecured debt, home improvements, supplementing income, purchasing properties, and helping family
Under current rules, all firms offering equity release products must offer you advice. You might also want to get impartial advice on your options from an independent financial adviser
Equity release could be a good idea if you’re 55 or older and want extra money for retirement, home or garden improvements or perhaps to help family financially. An equity release mortgage has no monthly repayments and lets you access tax-free cash from your home without having to move
Equity release plans are available to homeowners from age 55, and there is no upper age limit. Not all providers lend at all ages, but most plans are available to applicants aged 60 to 85.
Equity release may mean your family receive less inheritance when you pass away. The lifetime mortgage is repaid through the proceeds of the sale of your property, meaning there could be little, or no inheritance left for your family.
What’s the difference between equity release and a lifetime mortgage? Equity release enables homeowners to retain the use of their home while obtaining an income or funds from it. A lifetime mortgage is one of the two main types of equity release products, the other being a home reversion plan
Speak to expert equity release advisers and brokers for help and advice. By using Mortgage Brokers Network we can connect you with over 2,500 Mortgage brokers throughout the UK, a lot of whom are qualified in equity release advice. Please use our ‘Get Mortgage Advice’ quote form to receive advice from local Equity Release brokers and mortgage advisers or scroll through the companies listed and contact the mortgage advisers directly.
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