There are many reasons why people consider releasing equity from their home. For some people, it enables them to boost their retirement income without the need to downsize, for others it pays for important home improvements.
Equity Release is subject to certain eligibility guidelines, and is normally only available to homeowners over the age of 55.
There are currently two main types of Equity Release on the market:
Whatever your reasons, seeking independent, objective advice is an essential step in ensuring that you make the right choices.
We offer an initial meeting at our expense to discuss your circumstances. We are accustomed to meeting with both newly retired clients and clients in later life, and we are happy for you to invite family members and other professional advisers.
We will explore any alternative options open to you to ascertain whether Equity Release is appropriate. We will also discuss the impact of Equity Release on your entitlement to state benefits and grants, the potential impact on your wealth and ability to afford care fees in the future, your taxation position, and the implications for the future should you wish to move home, or on the death of a partner, or on marriage.
Following our initial meeting, should you choose to appoint us, we will work on the basis of a pre-agreed fixed fee to select and recommend the Equity Release which best suits your circumstance and objectives, and provides the best value for money from the open market.
We provide our recommendations in writing to ensure that you have all the necessary information, terms and costs before making a decision. We present our recommendations in person to explain how they will meet your objectives and to answer your questions. Our aim is to provide you with a fair and balanced picture in a way that is simple and easy to understand.
Equity Release is now regulated by the Financial Conduct Authority. In addition, the Equity Release Council provides a Code of Conduct which members must adhere to.
We only recommend Equity Release providers who are members of the Equity Release Council. This ensures that:
Equity Release is a specialist area of advice. Our team's qualifications include the following: