Equity release can give an eligible homeowner aged 55 or older access to some of the money tied up in the value of their property. This allows you to draw cash from the value of your home, without having to move out.
There are two types of Equity Release, a Lifetime Mortgage or a Home Reversion Scheme, detailed below are the differences between the two, but don't worry you do not need to decide - We have been authorised and qualified to give advice since 2015 and the best bit is we don't charge a broker fee, so use the contact form or telephone on the number below if you would like more details or a quotation and advice.
A lifetime mortgage is a way to release equity from your home, as a loan secured against your home. The loan plus interest doesn't have to be paid until the last borrower dies or moves out of the home into long term care. You can chose to make monthly interest payments or let the interest roll-up.
Home Reversion Scheme
With a home reversion scheme you sell all or part of your property at less than it's market value in return for a tax free lump sum, regular income or both, but stay in your home as a tenant, usually paying no rent but some reversion providers can charge a rent.
EQUITY RELEASE MAY REQUIRE A LIFETIME MORTGAGE OR HOME REVERSION PLAN. TO UNDERSTAND THE FEATURES AND RISKS, ASK FOR A PERSONALISED ILLUSTRATION
Happy Home Mortgages is an appointed representative of TenetLime Limited, which is authorised and regulated by the Financial Conduct Authority. Tenet Lime Limited is entered on the Financial Services Register (www.fca.org.uk/register) under reference 311266.
Happy Home Mortgages is registered in England under reference number 10665011. Registered office: 21 Princes Drive, Weymouth, DT4 7UQ
The information contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.
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