FOR INFORMATION ONLY - WHILST WE DO NOT ADVISE ON THIS AREA WE CAN REFER ENQUIRIES TO TRUSTED THIRD PARTIES.
Equity release is typically available to people who are over the age of 55 and have their own home with a significant amount of equity, but don’t have enough money or income for their needs. By releasing equity in the form of a lifetime mortgage or home reversion plan, it enables the individual(s) to remain in their home and raise money for things such as:
Where equity release is a suitable solution and you take out a lifetime mortgage or home reversion plan, the money does not usually need to be paid back or the home sold until the last remaining borrower dies or moves into care, although this may not be the case, for example if you make repayments to preserve as much of the inheritable estate as possible.
Whilst there are benefits for people in this situation, equity release isn’t for everyone and the benefits need to be weighed up alongside drawbacks, such as equity release can:
Also, there may be alternative options available to you that need to be explored before taking the equity release route, such as consideration of a conventional mortgage as an alternative, moving to a smaller home, using any savings or investments and potentially selling the home and moving into rented accommodation or living with children or other relatives.
Don’t worry as we can help you understand all the features and drawbacks so you can make a fully informed decision.
As financial advisers with the required equity release qualification and training, we can assess your individual circumstances and needs, and then give you expert advice on the right course of action for you. The benefits need to outweigh the drawbacks to ensure equity release is more suitable than alternative methods of raising funds.
It’s often said that you can’t buy peace of mind; however that’s exactly what our financial service does, as you can rest assured knowing you have the right solution for you.
It is advised that customers seek independent legal advice before entering into a legally binding equity release contract.
EQUITY RELEASE MAY REQUIRE A LIFETIME MORTGAGE OR HOME REVERSION PLAN. TO UNDERSTAND THE FEATURES AND RISKS, ASK FOR A PERSONALISED ILLUSTRATION.
THIS FORM OF LENDING IS MOST SUITABLE FOR THOSE OVER 65, HOWEVER, IT’S POSSIBLE TO DO THIS IF YOU ARE OVER 55. IT IS IMPORTANT TO UNDERSTAND THAT THESE ARE LIFETIME MORTGAGES AND TO UNDERSTAND THEIR FEATURES AND RISKS, YOU WILL NEED TO HAVE A PERSONALISED ILLUSTRATION.
Mortgage Office: 14 Park Road, Crouch End, London, N8 8TD | T: 020 8292 6556 E: info@crystallife.co.uk
IFA Office: Suite 243, Kinetic Business Centre, Theobald Street, Borehamwood, Hertfordshire, WD6 4PJ | T: 01923 333199 E: info@crystallife.co.uk
The guidance provided within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.
Crystal Life Ltd is an appointed representative of The On-Line Partnership Limited, which is authorised and regulated by the Financial Conduct Authority.
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