FAQs

The good thing about Equity Release you do not have to make any payments on a Lifetime Mortgage scheme. You can if you wish make payments on many of the schemes to stop the roll up of interest up to an agreed amount each year penalty free. If you have an existing mortgage that requires you to make a payment each month by paying off this mortgage with an Equity Release Lifetime Mortgage you could be payment free.

As long as you clear your existing mortgage on completion getting the capital tax free from your main residence then equity release could be for you. You do not sell your home with a lifetime mortgage but the lender will register a charge against the property.

You also benefit from a no negative equity guarantee which ensures you never owe more than the value of your home.

By having a mortgage that does not require a payment each month gives you more of your income for you to spend on Holidays, Home Improvements, enjoying life. If no payments are made the interest will build up over time and you don’t pay anything back until the last homeowner has died or entered permanent long term care. At this point the mortgage can be paid off with the sale of the property.

Equity Release www.equityreleasemoney.co.uk

01244 322199 or 07985903620

If you are aged 55 and over and you are a homeowner you may want to release some money from your home to help your family. Your children or grandchildren may be wanting a deposit to help them buy a home as if they are renting it is more difficult to save for a house deposit.

Lots of people are turning to equity release to access a portion of their homes value as a tax free cash lump sum. This has helped them help their loved ones buy their first home or to move up the property ladder.

If you make a gift while you are alive you can ensure that you see for yourselves that your gift has been used wisely. Getting on the property ladder will mean no longer paying rent. If you feel Equity Release is right for you it is important to seek out Independent Advice from an Equity Release specialist and to get a personalised illustration.

Please contact EQUITY RELEASE MONEY on 01244 322199 or 07985903620

who will put you in touch with a regulated Equity Release Independent Adviser

Are you a homeowner aged 55 and over and need some money?

You can release some of their property equity as tax free cash. You may want to pay off an existing mortgage which gives you more of your income to spend as you wish rather than the monthly mortgage commitment. You may want to do some home improvements, change your car or caravan for a newer model or help your children or grandchildren with their finances.

The minimum release is £10,000 and you could have a future drawdown facility if you do not take the maximum capital available to you. The most popular Equity Release schemes are lifetime mortgages which means you will still own your home.

If you are interested in Equity Release and you need some money tax free from your own home it is important to get Independent Advice from the whole market to ensure you get the plan best suited for your needs and future requirements and to get a personalised equity release quotation.

Equity Release Money will put you in touch with an Equity Release specialist.

Equity Release Money www.equityreleasemoney.co.uk

01244 322199 or 07985903620

Do you have family in a vulnerable financial situation at the moment? You may want to consider releasing equity from your home to provide them with financial support. If you release money with a lifetime mortgage it will provide you with a tax free cash lump sum which can be used as you wish.

You may want to gift some of the release to your family to help them in difficult times this could help them keep up with payments on their commitments like their mortgage or loan repayments. Lots of people who take out Equity Release may also find that they also have less income coming in they may still have money in pensions or investments which is affected by the stock market volatility.

You may want to take a single lump sum or release an initial lump sum with an additional reserve which you can take in stages if required in the future.

If you take the additional reserve you will only be charged interest on the amount that you have accessed this will help you keep the costs of interest roll up down. You can with most schemes pay ad hoc payments each year up to an agreed amount to stop the roll up of interest.

If you are over the age of 55 and a UK homeowner and your home is worth at least £70,000 and your main residence subject to the lenders acceptance Equity Release could be for you. The amount you can release is determined by your age and the value of your home and your health. The Financial Conduct Authority regulate Equity Release for your peace of mind. The minimum release is just £10,000.

If you need some money please contact for further information

EQUITY RELEASE MONEY www.equityreleasemoney

01244 322199 or 07985903620

Are you in retirement and short of money? If you are and over the minimum age of 55 and are a homeowner you could join the thousands of people who have used Equity Release to help meet your requirement needs.

You could use the money to pay off an existing mortgage, take early retirement, or to improve your lifestyle people are looking to release their equity built up from the increase in property values over the decades. The Equity Release market is regulated and includes a no negative equity guarantee ensuring that you will never owe more than the value of your home. And that you can release equity safe in the knowledge that your next of kin will never inherit any lifetime mortgage debt.

The good news with a lifetime mortgage scheme which is the most popular type of Equity Release is that you do not need to make any monthly payments at all. Instead the interest will be added to the loan amount each month and will roll up over time. If you wanted to make payments you can with a lot of the lifetime mortgage schemes on an ad hoc basis up to an agreed amount each year subject to minimum amounts and frequency of payments or if you wanted to you could pay regular monthly payments of interest.

With a lifetime mortgage you will not be selling your home but the lender will be registering a charge against the property as is the case with a residential mortgage. You will benefit from any property price increases and also need to understand property prices could fall.

The most important to think about in your retirement is do you have the money to do the things that you want to do? If you already have enough funds then Equity Release maybe is not needed but if you need to do some home improvements, travel, pay off debts, buy a newer car, help your family out and you do not have the money available to you then the equity built up over time in your home then Equity Release could be what you need.

EQUITY RELEASE MONEY 01244 322199 or 07985903620

www.equityreleasemoney.co.uk

For many people aged 55 or above who own a home with little or no outstanding mortgage they will have lots of value tied up in their home. Many others have interest only mortgages and have no way of repaying the capital. Equity Release could be ideal for people in either of these situations.

The Tax free cash can be released as a lump sum or taken as an initial capital lump sum and drawdowns of capital if further money is required up to an agreed amount. Equity Release could be a way for you to raise cash on your own home without having to move out.

If you have an existing mortgage this will need to be paid off which can be paid from the Equity Release scheme any extra money release is yours to spend as you wish. With a Lifetime Mortgage scheme the most popular type of Equity Release you will retain ownership of the home and you do not have to make any monthly payments but some providers allow you to make interest payments or ad hoc payments up to an agreed amount each year.

All of the Equity Release providers are regulated by the Financial Conduct Authority and be members of the Equity Release Council. Some of the main reasons to release money from your home are for Home Improvements, Holidays, New Car, repay an existing Mortgage, pay off other debts, Helping family children or grandchildren with a deposit for a home or with their general finances, pay for a private operation, care in your own home, buy a Holiday home or Inheritance tax planning.

The amount you can borrow on a Lifetime Mortgage is based on your age and the value of your home and could be increased depending on your health and lifestyle. It is important to seek Independent Advice from an adviser who can look at all of the providers to seek the best plan for your needs and requirements. Remember a Equity Release scheme will reduce the value of your estate.

If you are in need of funds and you own your own home and are aged 55 and above please contact EQUITY RELEASE MONEY for more information

01244322199 or 07985903620 www.equityreleasemoney.co.uk

Do you have an existing mortgage which needs to be paid off? In the next few years there are lots of interest only mortgages due to mature which will need to be repaid. Do you have a shortfall? You could release equity from your own property to clear your existing mortgage. This will mean you are free of the monthly commitment of monthly mortgage payments.

The money not spent on the mortgage can be used for your leisure, travel, hobbies or extra money to spend on your retirement. Being free of the mortgage payment can give you peace of mind.

With an Equity Release Lifetime Mortgage scheme which is by far the most popular method you release a tax free cash lump sum and has no required monthly payments, the interest rate can be fixed for life, and you will keep ownership of your home. If you make no payments at all the interest will roll up over the life of the scheme until the last owner has died or moved into permanent long term care. At this time the property is normally sold and the mortgage plus interest repaid.

If you are interested in Equity Release it is important to seek out Independent Equity Release advice from specialists in this area. They will check your personal circumstances to see if Equity Release would be right for you and if so make sure you understand the scheme. All the Equity Release providers will be members of the Equity Release Council as well as the adviser firm.

All Equity Release schemes will insist that you take Independent legal advice from a Solicitor to ensure your understanding of the plan.

If you are wanting more information on Equity Release please contact

EQUITY RELEASE MONEY on 07985903620 or 01244322199

www.equityreleasemoney.co.uk

Equity Release can mean you release money without having to move home. The Equity built up in your home can be released if you need some funds you can spend the tax free cash on your home for improvements, holidays, pay off debts, gift to your family to see them benefit from an early inheritance or a new car, a caravan, a campervan, a motorhome.

With Equity Release you will have peace of mind knowing that all plans meet the Equity Release Council standards which are

You have the right to remain in your home for as long as you choose

You have the freedom to move to another property without financial penalty (subject to criteria)

You will never owe more than the value of your home with a no negative equity guarantee.

If you are thinking of taking out Equity Release it is vital to get Independent Equity Release advice from the whole market to ensure you get the best terms for your needs.

The most popular method is a Lifetime Mortgage which is a loan secured on your main residence. It will reduce your value of your estate and may affect your entitlement to means tested benefits. You have the choice of letting the debt roll up over your lifetime or making monthly interest payments to paying ad hoc payments each year if you choose up to an agreed amount depending on the scheme you take out.

It is also wise to decide do you need an initial capital lump sum and future drawdowns up to an agreed amount or a one off lump sum. The most important thing to remember is to seek advice from an adviser who will look at all of the options available to you. If you do not need Equity Release it does not make sense to take money that you do not need but if you have the need for funds and remember it is your own property that you would be taking money out of then Equity Release may be what you need.

If you are interested in Equity Release please contact

EQUITY RELEASE MONEY on 07985903620 or 01244322199

www.equityreleasemoney.co.uk

Equity Release is your way of taking a portion of your property’s value as a tax free lump sum. The most popular method is with a lifetime mortgage which you retain 100pc ownership of your home. Unlike a traditional mortgage you do not have to make any monthly payments. If you make no payments interest will be added and roll up over time. This is not due to be paid back until the last homeowner on the deeds dies or moves into long term care. The amount to be paid back is usually on the sale of the home.

To be able to take Equity Release you must be a UK homeowner minimum age of 55 and your home worth at least £70,000. Your home must be your main residence. The amount you can release is by both your home’s value and your age with a minimum release of just £10,000.

Homeowners are taking Equity Release for many different reasons for example Home Improvements, Holidays in the UK and Overseas, Paying off an existing Mortgage or credit card debts, buy a new Car, Helping their Children or Grandchildren with a deposit to buy a home rather than seeing them paying rent. With a lifetime mortgage you can have a drawdown scheme where you can take an initial tax free lump sum but to have a further drawdown to be accessed at a later date if required. You do not pay interest in your reserve until you draw down this gives you better control over the roll up of interest.

You could if you choose make voluntary payments up to an agreed amount each year on some schemes this can be stopped at any time. Equity Release Independent advice will mean you will get advice from the whole of market and it is important to discuss your needs in detail to ensure Equity Release is right for you. It is also important to understand the potential effects on your estate’s value and any entitlement to means tested benefits.

Do you want to find out if Equity Release is right for you?

For a no obligation meeting with an Advisor please call 01244 322199 or 07985903620 www.equityreleasemoney.co.uk

Phone – 01244 322199 or 07985 903620

Shrewsbury, Ellesmere, Telford or Ludlow – Let Us Help You With Equity Release.

Are you looking for help with Equity Release in Shropshire? At Equity Release Money we know that it’s best to talk through all of your options in person with a trusted advisor, in the comfort of your own home. We put you in touch with a friendly whole of the market advisor who will travel out to your Shropshire home especially to speak to you.

There is no pressure to take out an equity release with the advisor, it’s also possible that you may not be eligible. The advisor will break down all of the options for you and help you understand how they work so you can decide what is best for you.

Whole Of The Market Equity Release Advisors In Shropshire.

There are so many companies and individuals offering Equity Release these days and even just in Shropshire, there are so many options to choose from and it can be quite confusing trying to work out what to do.

Rather than just working with one company the advisors we work with are what is called “Whole Of The Market” this means that they effectively shop around on your behalf and find you the best deal to suit your needs.

On top of being whole of the market advisors, they are all regulated members of Equity Release Council. You can rest assured that you are in safe hands.

Ideas On Spending Your Money:

What you do with your money is entirely up to you. For most people, it doesn’t take much thinking about! There are so many options of what you could do, some popular ideas include:

• Buying a Canal Boat – Shropshire has some lovely stretches of Canal perhaps you can treat yourself to your own floating holiday home and take in the natural beauty of the Salopian countryside.
• Home Improvements – Lots of houses in the Shrewsbury area are multi-storey and have lots of character. Why not extend your time in your home with a stairlift? If you live in the Shropshire Hills maybe a conservatory may be a perfect option?
• Go On A Holiday – While Shropshire is a beautiful place (we love the mere in Ellesmere) perhaps you have always wanted to see more of the world. You could treat yourself to a cruise (they even do world cruises). Is there a destination on your bucket list? With equity release, you may be able to go!
• Help Out Your Family – Give your family members a helping hand up the housing ladder and use your equity release to help them buy their first home. Perhaps you may want to treat them to a holiday if they have been through a tough time. Maybe you would like to treat your grandchildren to a fantastic experience, or maybe help them get into a good school which will help set them up for life.

Phone – 01244 322199 or 07985 903620