An Equity Release mortgage allows you to release a tax-free cash sum from the value of your property without having to worry about making additional monthly repayments.
This solution may appeal to clients who have a lot of equity tied up in their house but have a reduced income during their retirement or are concerned about an impending retirement.
Equity release can provide you with:
- A cash facility that enables you to release funds as required
- The ability to remain living in your own home
- The freedom to spend the money as you choose such as for living expenses, to carry out home improvements, improve your standard of living or help your children onto the property ladder
If you are over 55 and own your own home, then you might qualify for equity release.
The interest payable on the loan can be added to the amount borrowed and is then only repayable on your death or your entry into long term care. You maintain a guaranteed right to continue living in your property and the amount to be repaid will never exceed the value of your home.
Equity release plans will reduce the value of your overall estate for inheritance tax if some, or all, of the money is spent. You should, however, discuss any concerns you may have about your estate with your family and a specialist adviser.
As with any critical financial decision, it is very important to take advice from a company with expertise in this area.
Blackstone Financial Solutions work with fully qualified professionals who have many years of experience helping clients achieve their ambitions. They will carry out a full assessment of your circumstances and will tailor their advice and recommendation to meet your specific needs.
Loans are arranged by introduction to a specialist company.
This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration.
Please call us to discuss on Bristol 0117 403 0097 and to arrange a free no-obligation consultation to find out if equity release could be right for you.
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