Equity release is available for those over the age of 55 who wish to access equity held in their home. This could be to provide additional retirement income or to fund a care home or for care assistance in their own home.
There are two options for equity release, 'Lifetime Mortgage' or 'Home Reversion.'
A mortgage secured on your home. Unlike a conventional mortgage, there are no monthly mortgage repayments made for a lifetime mortgage. Instead interest is added to the loan amount and the interest and loan amount are only fully repaid on your death or if you sell your home.
You sell part or all of your home to a home reversion provider in return for a lump sum or regular momthly payments. You have the right to remain living in the property until you pass away, however, the property must be maintained and insured.
Equity Release will reduce the value of your estate and can affect your eligibility for means-tested benefits.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The Financial Conduct Authority does not regulate on Buy-to-Let mortgages
The actual interest rate available will depend upon your circumstances. Please ask for a personalised illustration.
Certitude Wealth is a trading style of Joanna Stickings, which is an appointed representative of Quilter Mortgage Planning Limited, which is authorised and regulated by the Financial Conduct Authority (FCA).
Quilter Mortgage Planning Limited is entered on the FCA Register
(https://www.fca.org.uk/register) under reference 440718