Equity release
Equity release is a specialist type of mortgage aimed mainly at people over 55 years of age, to release a lump sum. But you’ll want to be sure equity release is right for you - talk to the experts.
Equity release - specialist legal advice
What is equity release?
Equity release is a specialist type of mortgage aimed mainly at people over 55 years of age. Maybe you’re looking for a lump sum so that you can do some home improvements, or maybe you’d like to use your home as a source of income so that you can enjoy life to the full. Or maybe you want to pay for school fees or care home fees? Whatever you're planning, equity release could be the way forward. But you should take expert advice to choose whether it's right for you and which product and which provider will meet your needs best.
Equity release is complex and if you take out a plan, make sure it’s with a lender approved by the Equity Release Council. Tees’ own equity release advisers, Toni Chalmers-Smith and Catherine Banks are both approved by the Equity Release Council.
Equity release advice services
Our specialist advisers in our financial advice team and our residential property team will:
- explain how equity release works and the many different equity release products on the market
- listen to what you want to achieve
- help you to understand the financial implications of any decision for your future
- work out which is the best product with a view also to minimising costs, for example, interest rates and charges
- explain how to maximise the value of your estate with regard to leaving an inheritance for your family
- help you plan how to discuss your plans with family members (an alternative option may be for them to help you financially to preserve their future inheritance)
- consider other options such as downsizing or other forms of borrowing such as remortgaging your home or getting help from your family.
If you think equity release could be for you, give us a call and let’s talk about how we can help.Y ou can come in and see us for a FREE 20 minute face-to-face consultation about your options.
