Release the Money Tied Up in Your Home with Top Rate Lifetime Mortgage Advice
Stay in your own home for as long as you like without the worry of rising interest rates or leaving a debt to your loved ones. Live a more comfortable retirement, fix up your home or help the ones you love with a cash gift
In Your Home
Done Now
Or Regular Payment
Relieve The Worry
Repaying your mortgage for many, many years takes a lot of hard work and commitment, perhaps struggling from one month to the next, aiming to ensure you meet the payment, sometimes going without the nicer things just to meet the mortgage payment. It’s a life’s work.
Having paid your mortgage for most of your working life, it can be quite frustrating having all that value surrounding you, thinking you’ll never be able to get your hands on the money.
Banks will often be very reluctant to lend to those of you who are perhaps retired or nearing retirement or those of you without sufficient income to meet their seemingly strict lending criteria.
You could be looking for £5,000 or £500,000, if you don’t fit what the lender feels is a good risk then its simply a sorry but no.
Thankfully there is an answer to this problem.
Release Freedom, have great relationships with lenders who specialise in freeing up the money locked in your home.
This means that we can arrange for you to get hold of your money now, so that you can enjoy it how you want to.
Home repairs or improvements needed, get them done. Garden needing a makeover, enjoy the fruits of your labour. Feel like jetting off on holidays you’ve only dreamed of, why wait any longer. Gifting loved ones money so you can help now, why wait.
Access money tied up in your home, giving you freedom to spend the money on the things you want to.
Lifetime mortgages are designed for the over 55s irrespective of your level of income.
We are also members of the Equity Release Council which means any mortgage we recommend will give you:
- Rates that are fixed or capped for the life of the loan so never worry about rates changing again
- You don’t need to sell your home to release money. You also have the right to remain in your home for life or until you need to move into long term care, which means all the time you live in it, you own it
- If you have itchy feet in the future, you have the right to move to another property
- All lifetime mortgages we arrange come with a no negative equity guarantee, so your loved ones will never pay back more than the value of your home
- You do not make any payments to the mortgage unless you want to. You have the right to make penalty free payments, reducing the effect of interest on the equity in your home, subject to lending criteria
To find out which Lifetime Mortgage is best for you, fill in our contact form and we will call you back to discuss how you can access your money. If you prefer, call us on 01227 730800.
A lifetime mortgage is not suitable for everyone and may affect your entitlement to means tested benefits, so it is important to seek financial advice before taking any action. If you are considering releasing equity from your home, you should consider all options available before equity release.
The interest that may be accrued over the long term with a Lifetime Mortgage, may mean it is not the cheapest solution. As interest is charged on both the original loan and the interest that has been added, the amount you owe will increase over time, reducing the equity left in your home and the value of any inheritance, potentially to nothing.
Although the final decision is yours, you are encouraged to discuss your plans with your family and beneficiaries, as a Lifetime Mortgage could have an impact on any potential inheritance. We would also encourage you to invite them to join any meetings with your Financial Adviser so they can ask questions and join in the decision, as we believe it is better to discuss your decision with them before you go ahead.
Get a Fee Free Lifetime Mortgage Consultation
Fill out your details and one of our lifetime mortgage brokers will call you back.
Why Choose Us?
Great Reputation
Join the many other clients who have benefited from the help and advice of Simon Bridgland, a Top Rated mortgage broker with over 20 years experience advising clients with their financial needs and featured in the VouchedFor supplement published in the Sunday Times.
Get Your Money Quickly
The way we work means your local adviser can help speed up the process of accessing your money, let us deal with the task of finding you the right mortgage and handle the application process for you, saving you hours of paperwork and phone calls
No Upfront Fee
Our no obligation advice comes with no upfront broker fees, any broker fee can deducted from the initial advance.
How Would You Like Your Money
You can choose when to take your money, receive it as a lump sum or regular payment, tax free.
Trusted Advisers
Being part of The Openwork Partnership, one of the UKs largest and long-established financial advice and investment companies means you are in safe hands. You also have the additional protection which comes from the fact that we will only recommend products approved by the Equity Release Council, ultimate protection as a standard.
Meet The Person You Are Dealing With
You will see a local adviser (yes, a human being) in your own home or if appropriate by video call, this means you will have the same point of contact throughout the whole mortgage application.
How It Works
Contact Us
Fill out the form and one of our brokers will call you back.
We’ll search for the right deal
Right after we take a few details, we will start your mortgage search.
We’ll guide you through the process
We’ll help you choose the right product and then handle the application for you.
… to completion of your mortgage
We’ll increase your chances of being accepted and help you each step of the way.
It Has Never Been Easier to Access Your Money
Leading rates
Clear Troublesome Debts
Make your retirement what you want it to be
No obligation service
Access competitive deals from one of the UKs Top Rated Advisers
Fill out your details and one of our lifetime mortgage brokers will call you back.
- Pay off your mortgage
- Gift money to loved ones now
- Clear troublesome debts
- Overhaul the garden, make it easier to enjoy
- Get home improvements or repairs done
- Take those holidays you've always wanted to
- Make your retirement what you want it to be by simply boosting your regular income
Equity release is a way for some homeowners in the UK to get access to the money (equity) in the value of their homes.
Lifetime Mortgages are so called as they are designed to last for the whole of your lifetime. Just like a traditional mortgage, they allow you to borrow money against the value of your home, while still owning it. This loan can be taken as a lump sum or paid in stages as you need. As with any mortgage, interest is charged. However, the loan and the interest do not have to be paid during the term of the loan. The interest is usually 'rolled up' and added to the loan, and the total amount is repaid from the sale of the property when you (or you and your partner if a joint mortgage) pass away or move into long term care. If you feel you want to, you can service the interest on the loan in part or in full so that it reduces the impact the interest will have on the equity remaining in your home. For example, if you have always fully serviced the mortgage (pay the interest payments each month) the loan will be the same at the end as the amount you have borrowed. If you wanted to, you can ringfence part of the equity in your home to make sure for certain that you can leave an inheritance to your beneficiaries.
Home Reversion PlanThe other type of equity release product available is a Home Reversion Plan. This is where you sell all or part of your home in exchange for a lump sum or a monthly income.
You are no longer the sole owner of your home and you typically get far less than the true market value for the part of the home you sell. If your adviser thinks a Home Reversion Plan is the most suitable product for you – and there will be occasions when this is the case - they will refer you to a specialist company to provide the appropriate advice.
If you are considering releasing value from your home, there are many options available and it is important to get sound financial advice before making this decision. Your adviser will guide you through the options and the process and make sure you find a solution that works for you.
Certain criteria need to be met; you can access a lifetime mortgage from the minimum age of 55. Property type and the amount of money requested are all elements which need to be taken into account. Our advisers will run though things with you to check your eligibility
Money can then be used for a particular purpose such as supplementing your retirement income, spending on home improvements or alterations. Perhaps gifting money to grandchildren to use towards a house purchase. You can even use the money to take all those special trips you've wanted to, the choice is yours.
The money you borrow using equity release it is tax free in the hands of the borrower as it is a capital withdrawal, in some circumstances certain taxes could become payable such as when gifting funds to other people. We would recommend that specialist tax advice is taken in these circumstances. Drawing funds using equity release can also affect any means tested benefits you may be eligible for or in receipt of, again specialist benefit advice would be recommended in those circumstances. HM Revenue and Customs practice and the law relating to taxation are complex and subject to individual circumstances and changes which cannot be foreseen.
Yes, you can. Simply get in touch using any of the contact forms and we will call you back with no pressure whatsoever. If you would rather call us, you can reach us on 01227 730800