Equity Release – Is It The Best Solution For Me?

Equity Release Scotland is committed to providing the right financial products to our clients, which is why we feel it is essential that all of our customers make an informed decision about whether or not equity release is the answer in their situation.

Things That Need To Be Taken Into Consideration When Choosing Any Equity Release Product

Local Company Local Knowledge – At Equity Release Scotland we are a locally based company, that cares passionately about our customers. We understand the local area and are not a multi-national brand with hundreds of offices across the country. We believe that this works to your advantage, providing you with the personal touch that only a local company can provide.

Independent – We are totally independent meaning that we only recommend the best products available, and are not tied to one specific company. There are many products that we have access to that are not available to customers dealing direct, and we may even be able to obtain exclusive deals that are better than advertised.

We Encourage Family Involvement – We understand that anything involving equity release can be a huge decision for you and your family. Being open and transparent, we welcome family members to attend every consultation and will be happy to explain the ramifications of each product choice.

Full Explanation Of The Facts – There is nothing worse than trying to decide without being aware of all the facts. That is why our team of experts will use their knowledge and expertise to ascertain which benefits if any could be affected. There are certain circumstances for instance where your tax status may be affected, and some entitlement to means tested benefits could change.

Early Repayment Charges – It is important to understand that the vast majority of equity release products are designed as a lifetime agreement. In this respect, they are designed to be settled upon death or when moving into a long-term healthcare situation. Our staff will always advise that early repayment for most of these products will more than likely come with an early repayment charge.

Compound Interest – Compound Interest can grow exponentially over a reasonably short period. Although many people understand this concept, in theory, our advisors will personally demonstrate the numbers to you, so that you can fully understand the implications of compound interest, and how it could affect your inheritance. As equity release products are secured against your personal residence, these are important factors in the decisions you choose to make.

Free Initial Consultation – Speaking to our team of advisors at Equity Release Scotland is free, so it costs nothing to gather all the facts and to understand the various options available to you. Once you decide to move forward with a product, there will be certain charges incurred, which will be explained to you during the consultation.

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Equity Release Not For You? – What Are The Alternatives?

Equity release is not suitable for everyone so let’s look at some alternatives

Downsizing – Downsizing could be the perfect alternative – If all the children have flown the nest, many people feel that they no longer need such a large property, which may require additional maintenance and incur higher energy costs to heat. By selling the property, and purchasing a smaller one, you may be able to clear your mortgage totally. The negatives to this alternative are leaving your family home and all the happy memories, and potentially having to move to a different area away from your friends and family.

Liquidating certain savings or investments – Perhaps you don’t want to move home, with all of the hassle and change which that involves, so another alternative may be to look at any investment portfolio you own, or savings plans. Is it possible to cash out some of your investments to meet your needs? For many people, this option is not favoured as they like the security and confidence that quick and easy access to cash provides, but it is still an option worth considering.

Taking out a traditional mortgage or short term loan – This is another option. Although you are taking on more debt, it may be enough to get you through a short term cash flow problem, although it is important to ensure that you can afford the extra repayments that this will incur.

State Benefits – Are you claiming all the state benefits that you are entitled to? Sometimes those benefits that you were unaware of can provide sufficient funds to solve your financial issues without having to change anything else.

Family And Friends – Don’t be afraid to ask family or friends for some financial assistance. Although it can be embarrassing to ask for help, many family members would be horrified to know that they parents were struggling with money, and if those family members are due to receive a significant inheritance upon your passing, then they will receive that money back in the future. Think of it as a short-term loan that assists all parties involved.

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Our Success Stories

What our Customers say About Us

“We just wanted to be able to stay in our home for some years to come and the local advisor from Equity Release Scotland was very helpful and understanding. We now feel very comfortable that we can afford stay in our home for the foreseeable future and have options further down the road.”

Mr & Mrs Davidson

Glasgow

“What a relief, our mortgage and debts repaid, one easy monthly payment which we can afford and the option to stop paying that in the future if we choose’ . The process was smooth and everything was clearly explained to us. We had lots of questions but our adviser was always available to answer any concerns we had....thanks a million”

Mr & Mrs Curran

Edinburgh

Our Guarantees

Why You should always choose a product from a lender approved by the Equity Release Council

Guarantee 1

equity release council logo approvedYou have the Right to Remain in your Home for as long as you choose

Guarantee 2

equity release council logo approvedYou will NEVER owe more than the value of your home due to the "no negative equity" guarantee.

Guarantee 3

equity release council logo approvedYou have the freedom to move to another property without financial penalty (subject to provider criteria)

We are here to help you

To Provide Friendly, Efficient Advice For The Life Of Your Mortgage.

Free Equity Release Guide

Looking to release some cash that is tied up in your property? Get Your FREE Guide here

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Contact Us

0131 644 3664

You can contact us by calling 0131 644 3664 or 0333 360 1958 or using our contact form

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How Much Can You Release?

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