Money Release has experienced specialist advisors available to provide detailed information with facts and figures of Equity Release plans to assist you in making an informed decision.
Before you proceed with an equity release plan there are various aspects to take into consideration.
- In choosing Money Release you have wisely selected one of the UK's specialist Equity Releaes Companies. Money Release is registered with the Equity Release Council and is regulated by the Financial Conduct Authority.
- Money Release is completely independent and has access to a wide range of carefully selected lenders, who deal with both lifetime mortgages and home reversion plans. Our advisors will work with you to obtain the best illustrations with lowest interest rates.
- It is important that you ensure which is the right plan for you and your family, and our advisors will assist you in making the right decision. Money Release welcomes family to attend the free of charge and no obligation consultation with our advisors, to ensure that everyone has the opportunity to ask questions and establish how their inheritance will be affected.
- Money Release do not charge any up-front fees and any associated fees are due only upon completion.
- You should be aware that your means-tested benefits and tax situation may be afftected by taking our equity release and our specialists will advise you specifically.
- Generally equity release is a lifetime mortgage secured against your home, and repayment is anticipated when you either move in to long term care or sadly pass away. You do not have to make repayments, but if you wish to make payments or pay back the lifetime mortgage early, then our advisors can source appropriate plans. The advisor will also explain and demonstrate how compound interest rolls up and early repayment penalties.
- Our experienced advisors are here to help you make the right decision and you can rely on Money Release to give the best advice.
What are the alternatives to Equity Release?
Equity Release is not right for everyone and it is important to consider the alternatives before you proceed with an Equity Release plan. All of our trained advisors will ensure that they discuss each of the following alternives with you as a part of their consultation with you.
- Downsizing. It is possible to saell you existing home and buy a less expensive property. This will involve moving costs and you may have to pay stamp duty land tax on your new property but your new home costing less could free up some money tied up in your home.
- Other types of borrowing. For example you may be able to take out a traditional mortgage or a loan with your bank. It is important to make sure you can make any monthly repayments these forms of lending may require.
- Using existing savings or other investments. This could include any existing pensions you may have or cash held in savings accounts.
- Asking family or friends. It may be the case that you could borrow money to help your cash flow if you are in need.
- Taking in a lodger. It may be possible for you to rent part of your property out to a lodger to bring in additional income.
- Claiming the full state benefits you are entitled to. For more information in relation to state benefit entitlement we suggest contacting Citizens Advice.
If having considered the alternatives you feel Equity Release is right for you, call one of our trusted advisors on 0207 158 0881. You can also find out how much equity you may be able to release by using our free equity release calculator.