About Equity Release

Equity Release is not to be confused with the Buy and Rent Back schemes and has come a very long way from the days of the high risk Home Income Plans. Equity Release has evolved into a highly regulated, very transparent market place that delivers a variety of solutions to enable our ever increasing retired population to make the most of their leisure years.

Today people are spending longer than ever before in retirement and many find their pensions simply don’t go far enough. One of the key reasons for this is because most people’s pensions increase by the official rate of inflation, which is made up of two factors, Goods and Services. Because pensioners use more “services” than “goods”, the real rate of inflation is much higher for the retired sector.

Although house prices have fallen sharply recently, they are often still the biggest single asset you may have. Whilst you can’t eat bricks and mortar, if you are over 55, you may be able to use Equity Release to help maintain your lifestyle by generating tax free cash or to supplement your income and reduce the worry about meeting ongoing monthly payments in the future.

Because your house is your home and therefore possibly the most important asset you have, safety and security are paramount and all the plans that we recommend are provided by companies that are members of SHIP.

This stands for Safe Home Income Plans and was set up in 1991 by the major providers and their products must provide a strict set of guarantees.

These include:-
Your right to remain in your property for life (so long as it is your main residence)
Your right to move your plan to another property sometimes without penalty
Your right to choose your own solicitor to do the legal work
You will never end up in negative equity and no debt will ever be left to your estate.

Peace of mind. This type of plan can only be taken out after your solicitor has signed a certificate stating that he or she is happy that you fully understand the terms and conditions of the plan and the effect it will have on your estate.

For more information on Equity Release please feel free to contact us and we can organise for one of our Advisers to talk with you to see if Equity Release is right for you.

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