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Equity Release

RAISING CAPITAL AGAINST THE VALUE OF YOUR HOME

Raising money later on in life is often more difficult because you have assets rather than income; we are seeing increasing numbers of elderly people asset rich and cash poor. Some are even finding that their income is not sufficient enough for them to continue living comfortably in their much-loved family home. This is where Equity Release can really make the difference.

Equity Release enables you to withdraw money from the value of your home which may be used to supplement income, pay for that cruise you’ve always wanted, carry out those much-needed home refurbishments or even pay for the care you need in the confines of your own home.
It can also be a valuable tool for inheritance tax planning and in some instances, may also be appropriate for you to purchase a property.

By borrowing against the value of your home, you can gain access to capital lump sums. Typically, the older you are the more you can borrow; however, there are exceptions to this rule. In all instances that we recommend a “no negative equity guarantee” will apply, meaning that even if your house should decrease in value, your estate will not be required to repay any additional debt after your death.

To find out if Equity Release could work for you please get in touch, our expert advisers will be happy to help you choose the best course.

Are You Eligible?

Did you know?

For a lifetime mortgage you (and your partner) need to be at least 55 years old. You must own property in the UK. This property must be your main residence. Your property must be in a reasonable condition and over a certain value (depending on the lender). There may also be restrictions on the type of property accepted.

What Are The Benefits?

Did you know?

As well as the option to access a one off capital lump sum, it is possible for an equity release contract to be arranged with a drawdown facility. This type of arrangement allows you to draw funds as and when you need them (up to the predetermined limit) and only pay interest on the outstanding balance.

What Are The Risks?

Did you know?

Whilst equity release is a good way to gain access to a capital lump sum, it can be an expensive way to borrow. Equity Release can significantly reduce the value of an estate although this can be a bonus if used as an Inheritance Tax Planning tool. For these reasons it is essential that you seek advice to determine whether it is the right option for you.

Average UK house price
£0K
as of Feb 2017.
Since 1991 in the UK
0K
consumers have taken equity release.
Consumers have released
£0bn
of equity since 1991.
In the third quarter of 2016 alone
£0m
of equity was released.