Equity Release

Equity Release Simplified

Taking out a lifetime mortgage on your property requires expert guidance. How does it work? What are the advantages and disadvantages? Equity Release Mortgage Advice Ltd is here to provide answers to help you decide whether a lifetime mortgage is a right option for you.

Equity release explained

Equity release lets homeowners aged 55 or over access a tax-free sum corresponding to the value of their home. The amount released depends on the homeowner’s age and the property’s value. You will still own your home, you are not required to move out and you do not have to make monthly mortgage payments - unless you want to.

Senior middle aged happy couple using laptop together at home.

Is an equity release mortgage right for me?

There are different types of equity releases: Equity release is often referred to as a Lifetime mortgage, Lifetime mortgages allow you to take a loan with your home while remaining in it, with the loan only repaid when the last surviving borrower passes away or moves into long term care. The experts at Equity Release Mortgage Advice Ltd offer impartial advice in plain English to help you make the right decision Equity Release Mortgage Advice Ltd will only ever charge a £1250 flat fee, regardless of the value of your property, which is payable on offer.

Why do home owners take out lifetime mortgages?

Choosing an equity release mortgage shouldn’t be rushed into, but the reasons people choose this option are varied

A lifetime mortgage is a safe option for meeting these needs without compromising your retirement savings. Your lender may allow you to protect a portion of your property’s value. This amount is subtracted from the total valuation of your home before you receive the loan.

*If you give some of the money from the equity release to your children, they may have to pay Inheritance Tax in the future. Always seek expert advice when considering this as an option.

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Hesitant about releasing equity?

Equity release can reduce the value of your estate for your beneficiaries. Because of this, and the other complexities surrounding equity release, you must seek professional financial and legal advice before taking out a lifetime mortgage. Notify your loved ones and ensure mutual agreement between all parties before proceeding with a lifetime mortgage.

By speaking with one of the experts at Equity Release Mortgage Advice Ltd, you will be informed of other alternatives to releasing equity, such as applying for local grants or benefits (provided you meet eligibility requirements), taking a loan from a bank, leaning on personal savings, or getting funds from your family members.

Things to consider

Before you take out a lifetime mortgage, consider that:

Remember a lifetime mortgage is secured against your home. You should always think carefully before securing a loan against your property. Want to know if a lifetime mortgage is suitable for you? Equity Release Mortgage Advice Ltd will offer you expert advice on taking an equity release. We’ll be glad to spend the time discussing your options with you with no obligation or cost.

Most lenders will allow you to repay the interest either monthly or ad hoc. This will help preserve the value of the equity in your property.

With expert guidance, you can make the right decisions regarding equity release. Reach out to our experienced team to determine what an equity release means for you.

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Eligibility status

Official requirements vary with lenders. The general ones are:

Why choose Equity Release Mortgage Advice Ltd?

Equity Release Mortgage Advice Ltd are truly independent equity release specialists, we deal with all providers, meaning we really can source the best options available to you. In addition, we will also explore whether your needs are better served through a traditional mortgage or a specialist RIO (retirement interest only) mortgage. This is still fairly unusual, as many brokers only look at equity release, regardless of whether another solution might be better.

We recognise this is an area people are concerned about. This is why customer service and transparency are of the utmost importance to all of our expert consultants.
If you choose to use our services to arrange your lifetime mortgage, we are there for you throughout the process. We will guide you through each step of the way, liaise with solicitors, estate agents and family members, if you wish, and make sure that you are completely comfortable with each step. We can even recommend independent professionals if needed. We want to ensure that you make fully informed decisions.

We are always happy to visit people where they feel most comfortable; you come to us or we'll come to you, whichever suits you best. We have the same approach with family and friends, we're very happy for them to be involved.

To top it off, we charge a fixed fee of £1250* on offer - no matter what!

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What our clients have to say

“ The whole experience of our Equity release plan was painless, with Rory's guidance through the whole process we were able to convert our existing mortgage to Equity Release and only have praise for the professional help we received throughout.”

“ We needed to settle our mortgage and spoke with Rory who advised Equity Release was a good way to settle the matter. We followed his advice and the process could not have been made any easier and was completed within weeks.”

“ We obtained our lifetime Mortgage within weeks and have remained in our property. We were consulted and advised by Mr Joseph at every step of the process. We are very happy with our choice of a lifetime mortgage, our choice of JLM mortgage services and the attention to detail demonstrated by Mr Joseph.”

  • Specialist Mortgages

“ Our solicitor, was so impressed that he said he intended to recommend it to his other cients. All in all, Equity Release seems an ideal way of releasing funds to both our children and ourselves now, rather than waiting till we depart this world, losing much of our estate in taxes.”

  • Specialist Mortgages

“ The process was smooth and seamless, we were consulted and advised by Mr Joseph at every step of the process. He remained in easy contact and was able to either answer our questions immediately or very soon after return with an appropriate answer.”

  • Specialist Mortgages

“ We were rather sceptical about ‘equity release’ having heard tales of extortionate pay back rates etc. Once ERMA were involved information became much clearer. They explained the different types of ‘equity release’ and gave us concise and understandable information so that we could form our own decision on what was right for our own individual circumstance.”

  • Specialist Mortgages

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Need help? One of our Consultants will get in touch to discuss your specific requirements.