Equity release providers we use...
Equity Release Isn't Suitable For Everyone
Please note that equity release is sometimes known as a lifetime mortgage, retirement home plan or home reversion.
Not everyone will qualify for equity release and it's not always the right solution. If you only read one page about equity release, please read this one.
1st Equity Release will help you discover which product is best for you. Not only do we help you compare equity release, but we also offer you complete guidance on all the schemes available.
We do this for FREE with absolutely no obligation. Exclusive offers could also save you hundreds.
Ethical, Professional Equity Release Advisers, Not Salesmen
Importantly, we're not a "here today, gone tomorrow" sales company - we are ethical Financial Conduct Authority Registered Independent Financial Advisers that have to adhere to stringent rules surrounding equity release.
Unlike many of our competitors, we also are fully qualified to advise on your pension, annuity or income drawdown. To make a decision on your equity release, it's vital that the whole picture is taken into account.
We've huge experience in this sector and will also tell you if equity release is not right for you.
The Financial Services Authority (FSA) have said, "If you don't want to move (or can't), another option could be equity release. Get advice from an Independent Financial Adviser specialising in equity release."
Consider This: Asset Rich, But Cash Poor? It Really Doesn't Make Sense
Over 55 and a homeowner? We may have excellent news for you!
Are you sitting in a property that's worth 100's of thousands of pounds?
Equity release schemes are aimed typically at homeowners who find themselves with little disposable income, but living in a property which may be worth a huge amount of money.
The Council of Mortgage Lenders say that retired homeowners are sitting on £1.1 trillion of unmortgaged equity.
With an equity release scheme, you're able to release a proportion of the value of your property in return for a lifetime income, tax-free cash lump sum or a combination of both... all with no risk of losing your home.
Still in Debt? Equity Release Could Be The Answer
In recent years, equity release is becoming increasingly popular as our older population is growing. It can relieve debt and substantially increase retirement income.
The highly respected debt charity, Consumer Credit Counselling Service (CCCS), suggests equity release to over 55s who owe money as a way to pay back borrowed money.
However, although many use equity release as a way of paying debt, commenting on their own research, Saga says "Our findings dispel the often held myth that equity release is just a last resort for cash strapped pensioners, when in fact people use the capital in their home to enjoy life, not just to get by."
What is Equity?
Equity is your current mortgage balance taken away from the current value of your house. If your mortgage is paid off and your house is worth, say, £200,000, then your equity is £200,000. Equity Release should not be confused with remortgaging.
The table below will give you a rough idea of the amount some equity release providers may be prepared to lend you. For example, using the table, Mrs Smith is 65 and owns a home worth £200,000. If she took an equity release lifetime mortgage plan, she could release a maximum of £62,000 in cash. That's 31% loan to value of £200,00. (£200,000 x 31% = £62,000)
Loan to value (LTV) is the amount of the equity as a percentage of the value of the property. Providers take loan to value percentages into consideration when considering your application for equity release.
|Maximum Loan to Value Equity Release||21%|
|Maximum Loan to Value Equity Release||26%|
|Maximum Loan to Value Equity Release||31%|
|Maximum Loan to Value Equity Release||37%|
|Maximum Loan to Value Equity Release||40%|
|Maximum Loan to Value Equity Release||42%|
|Maximum Loan to Value Equity Release||45%|
|Maximum Loan to Value Equity Release||47%|
(Figures quoted are indicative and for illustration purposes only)
Learn Which Is The Best Equity Release For Your Circumstances
1st Equity Release will provide all the information you need on the dozens of equity release schemes available.
We can also negotiate preferential equity release deals, including lower interest rates from some providers, that you may not achieve elsewhere.
YOU MAY WANT TO...
OR RELEASE EQUITY TO HELP OTHERS...
Depending on the plan you take you can...
• Own 100% of your home and continue to live in it
• Continue to benefit from any future rise in house prices
• Release a tax–free cash lump sum or an income for life
• Release additional cash when you need it and spend that cash as you wish
• Consolidate your debt
• Guaranteed your income for life
• Maintain an emergency fund
• Pay no valuation or set-up fee
• Most plans have a no negative equity guarantee
• Have no credit checks
Are You Eligible For Equity Release?
Complete the quick, easy enquiry below and learn if you qualify for equity release and if equity release is a suitable product for you.
If so, we'll give you full details of all the products available and advise which could be the best for your circumstances.
Simply take a minute to enter your details and you'll be called back as soon as possible with an answer. We'll also tell you how much money you should be able to release from your property.
Your enquiry is FREE and there's absolutely no obligation to proceed.