Equity Release includes lifetime mortgages and Home Reversion Schemes. We can advise and arrange Lifetime Mortgages and will refer to an approved specialist for Home Reversion Schemes’ and ‘Lifetime Mortgages are applicable to over 55s only, can affect means and state tested benefits and may affect the inheritance you may leave.
Equity release allows homeowners aged 55 and over release tax-free cash from the value of their home. The amount you can release is based on your age and how much your home is worth. Depending on the equity release product you choose, you can claim your money as one big lump sum or as a series of smaller lump sums.
You can use the money for a variety of things including:
• Help your children/grandchildren with money difficulties or to buy their own home
If you give money away, the recipient may have to pay inheritance tax in the future
• Live out your dreams of travelling the world
• Pay off your loans
• Make vital improvements to your home as you grow older
• Have some extra money to help you enjoy your retirement
Equity release is a specialised area, and it is not suitable for everyone, it is important you are armed with the correct information and all the pros and cons prior to making any decision. We ideally would like to meet you in person and encourage you to invite family members along, so we are confident you and indeed your nearest and dearest fully understand what equity release entails. We have had first-hand experience time and time again of seeing just how equity realise really can change peoples lives but it is a complex area that needs complex specialist advice and knowledge offered by us.
Your home/property may be repossessed if you do not keep up repayments on your mortgage.
The Financial Conduct Authority does not regulate some forms of Buy to Lets.
Equity Release includes lifetime mortgages and Home Reversion Schemes. We can advise and arrange lifetime mortgages and will refer to an appointed specialist for Home Reversion Schemes. These are only applicable to those 55 and over, and it could affect eligibility to state means-tested benefits and the inheritance you may leave. To understand the features and risks, ask for a personalised illustration.
There may be a fee for mortgage advice. The precise amount of the fee will depend upon your circumstances but will range from £300 to £1000 and this will be discussed and agreed with you at the earliest opportunity.
Serene Advice Ltd are an appointed representative of HL Partnership Limited which is authorised and regulated by the Financial Conduct Authority.
Serene Advice Ltd are registered I England and Wales. Registered No: 13371549. Registered Office: 86 Darlington Road, Hartburn, Stockton on Tees, TS18 5EY.
© Serene Advice LTD 2022 All Rights Reserved