- 1 Why use Equity Release Scotland.
- 2 Our Success Stories
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We are Equity Release Scotland.org A specialist financial organisation based exclusively in Scotland and operating throughout the length and breadth of the Scottish mainland and the islands. We specialise in providing ‘Later Life Lending’ advice on a wide range of Equity Release plans, also called Lifetime Mortgages, to our many customers. We are composed of fully qualified and industry accredited Equity Release specialists who offer a NATIONAL presence but provide a LOCAL service tailored specifically to your unique needs.
All our Advisers are qualified in both CeMAP (Certificate in Mortgage Advice and Practice) and CeRER (Certificate in Regulated Equity Release), and so, fully compliant with the Financial Conduct Authority’s regulatory requirement to advise on Equity Release plans. Furthermore, we are happy to meet with you and your loved ones, face-to-face in the comfort and security of your own home at a time that suits you.
We will provide you with a bespoke service to specifically address your individual financial needs and personal circumstances. We will compare products from the whole of market from lenders approved by the Equity Release Council to ensure the correct Equity Release plan is selected for you.
Our goal, put simply, is to improve the financial standing of all those who seek to use our professional services. We will offer clear and concise advice in an open and transparent manner to ensure our clients and their families can make an informed decision. Our client’s best interests are, and will remain, at the very heart of everything we do.
For Equity Release Plans (Lifetime Mortgages) interest rates can be fixed or variable. Fixed rates remain the same for the duration of the Lifetime Mortgage, so you know exactly what interest charges will be applied. In the case of variable rates, they normally start off lower than fixed rates and normally (but not always) will never go lower. They are effectively ‘collared’. In many cases they will increase annually in line with the Consumer Price Index which is the changes in price levels of a basket of goods and services purchased by households. Many lenders offering these variable rate products will set a guaranteed rate they will never go over, so they are effectively ‘capping’ these rates. Your Adviser will explain this in more detail so you fully understand the implications of both types of rates.
Yes. You will always retain 100% ownership of your home with a Lifetime Mortgage and can stay in your home for as long as you wish. The only time the lender will require the loan to be repaid is when you pass-on or have to move into long-term care with no prospect of returning home.
We offer Lifetime Mortgage products from lenders approved by the Equity Release Council which all have an in-built ‘No Negative Equity Guarantee’. This means that in all cases you will never owe more than the value of your home. This very important feature is called a “no negative equity guarantee”, and is designed to ensure you have peace of mind no matter what happens to the value of your property. On death, if you owe more than the value of the property then the shortfall is borne fully by the lender. They cannot look to other parts of your estate, such as savings, to make up the shortfall.