Equity Release

If you're over the age of 55, equity release could offer you a way to use the value of your home to raise money. Generating income from your home is a big decision, so it’s important that you understand the risks as well as the benefits, and that you consider all your options. 

 

Many of our clients have used equity release for different reasons, such as to generate additional income, provide lifetime gifts to relatives, for home improvements or to fund long term care. You probably have your own ideas - there are no restrictions on how you use the funds. However, there are certain conditions that you must meet before taking out an equity release plan.

 

Lifetime mortgage

With a lifetime mortgage plan, you take out a loan secured on your home. You keep full ownership of your home.  The loan, together with the accumulated interest, is repaid from the sale of your home, either when you die or if you move into long-term care. Some providers offer a ‘drawdown’ facility, which means that instead of borrowing all the money you need as a lump sum at the start, you can take smaller cash amounts.

 

Home reversion

With a home reversion plan, you sell your home, or part of it, to a reversion company. This means you may no longer own your home.  Instead you may only own a part of it and receive a lease giving you the right to live there rent-free (or sometimes paying a token rent).  The reversion company is normally paid when the property is sold, either when you die or until you have to move into a care home.

 

Equity release schemes vary greatly from one to the other, with lots of new providers entering the market all the time. We’ll help you to understand your options to ensure that you make the right decision for you and your family.

 

Contact us to today to see how we can help you.  In the meantime you can also download our guide to equity release.

 

EQUITY RELEASE MAY INVOLVE A LIFETIME MORTGAGE OR A HOME REVERSION PLAN. TO UNDERSTAND THE FEATURES AND RISKS, ASK FOR A PERSONALISED ILLUSTRATION.

 

WE ARE NOT LIMITED IN THE RANGE OF MORTGAGES WE WILL CONSIDER FOR YOU.

 

WHEN YOU APPLY FOR A LIFETIME MORTGAGE, THERE IS A FEE OF £1,495 ON APPLICATION, PAYABLE TO OMNI FINANCIAL LIMITED. WE WILL ALSO BE PAID COMMISSION FROM THE COMPANY THAT LENDS YOU THE MONEY OR BUYS YOUR HOME.

​

Our Services

Our Independent Financial Advisers offer a comprehensive range of financial services, tailored to your particular requirements. Click on the images below to find out more about the services we provide.