Equity Release
Equity Release is a way of releasing equity from your property without the need to move. In most cases there are no monthly repayments to make. The most common schemes are mortgage-based products secured against your home and repaid when you die or go into long-term care.'Every year interest is added to the amount you owe. This will reduce the remaining equity in your home. If you live a long time or house prices fall, there may be no equity left for your heirs to inherit.' Equity release refers to home reversion plans and lifetime mortgages. To understand the features and risks, ask for a personalised illustration. For Equity Release we can be paid by commission, or a fee of usually 1.5% of the loan amount with a minimum of £500 or a combination of both.