Equity Release FAQ

Answers to some of the most frequently asked Equity Release questions

Questions & Answer


Will taking equity release affect my family?

Equity Release could affect your family’s inheritance. I take great care to ensure you are fully informed of how equity release will impact on your beneficiaries. I would always suggest having a family member involved with the process. There are plans that will allow you to guarantee a percentage of your inheritance if that is important to you.

Can I be confident if Equity Release is right for me?

I will go through a comprehensive fact find which will enable me to assess your personal circumstances. If equity release is not right for you, I will say so and explain why that is the case as equity release is not right for everyone.

Can I remain living in my own home?

Yes, you can remain living in your own home until the last survivor passes away or the last survivor moves in to long term care. This is one of several guarantees set out by the Equity Release Council along with a no negative equity guarantee.

How safe is Equity Release?

Equity release is authorised and regulated by the Financial Conduct Authority for lifetime mortgages and home reversion plans. The Equity Release council is an independent organisation that sets out strict standards that providers and Advisors have to follow. An independent solicitor will also be involved and they will need to witness and sign the Equity Release Council certificate. I am also a member of the Equity Release Council.

Can I make payments to offset the effect of the interest?

With a Lifetime Mortgage there are plans that allow you to either pay all of the interest or a percentage of the interest whilst affordable with no penalties. This is not the same with a Home Reversion plan but something we would cover off in our initial discussion.

How much can I release?

The amount you can release will depend on the youngest applicant’s name (minimum 55) and the value of your property. The attached calculator is only an estimate of what you could release. For a more accurate amount please click on the link.

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