We compare the whole of market with lenders approved by the Equity Release Council to get you the best equity release deal.
With an Equity Release plan, all the cash you receive is 100% tax-free.
All our advisers are fully qualified to provide advice and recommendations on an Equity Release plan to suit your individual needs and circumstances, as required by our regulator, the FCA.
ERS have access, from time to time, on products with preferential rates and features.
Our Advisers here at ERS specialise in working with clients in the Lancashire area and have helped a huge number of local people access the equity in their home.
Whether you’re just thinking about releasing equity, or if you’ve already got a plan in mind, we can help.
Equity release can be complicated and for that reason we provide a friendly and transparent approach with excellent customer service every step of the way. In fact, you’ll struggle to find a company who are as committed as we are to finding the perfect equity release solution for you.
Your life and circumstances are different, as such, there’s no one reason why people decide to release the equity from their home.
If you’d like to be able to extend some financial help to your family it can be hard to do so knowing a lot of your cash is held up in bricks and mortar.
It’s getting harder and harder for young people to get onto the property ladder and that’s before increasingly common money worries. Choosing to release equity, stay in your home and support the people you care about is a great way to be there when some help is required.
The perfect holiday means something different to everyone; perhaps you’d like to surround yourself with family, then again, perhaps you’d like to surround yourself with peace and quiet!
Life often means that enjoying yourself and spending your money on little treats isn’t possible, but with an equity release mortgage, you can enjoy the life that you love with a little sunshine and travel.
Would you like to make a few changes to your property? Would a new bathroom, improved heating or some other kind of home make-over give you a space you love to be in once more?
If you’d like to make some improvements – whatever they may be – an equity release mortgage can be the perfect solution. You don’t have to settle for second best in your own home.
Is your mortgage becoming a problem now you’re around retirement age? Do changes in your income mean that a large mortgage payment is becoming more of a problem?
If so, releasing some equity from your property can remove a weight from your mind and lets you to stay in the home that you’ve worked so hard for.
Running an old car can be a burden; with some panic involved when MOT and servicing time comes around, it can get expensive; and that’s before any breakdowns or safety worries.
Also, buying something new can come with a hefty price tag. This is why many people in the Lancashire area choose to release some equity from their property to free up funds for a new car and by doing so, reduce a lot of the stress from motoring.
Being in debt can happen for a many reasons, but one thing is universally true – it can be extremely difficult to get back out of debt. The process can take years of careful planning and tight budgeting.
If debt is stopping you from living the life you love, equity release could be the perfect solution for you.
If we ask what you want to achieve with the money that you release we’re not being nosey! Instead, we’re building a picture of your needs that helps us find the very best solution for you.
Whatever your goal, we’ll be able to help and advise you as we already have done with many individuals and families in and around the Lancashire area.
We advise starting with a free consultation – it’s always without any obligation whatsoever.
We can plan a day and time that fits around you and you won’t be talking with a salesperson; instead, you’ll being chatting with a professional who’s familiar with the huge range of equity release products that we can offer.
You’ll be able to discuss your particular circumstances completely confidentially and our advisor can show you a variety of products that could fit the bill for you.
You’ll be able to ask questions, consider the possible figures and keep hold of everything, so you can think it over and discuss it with those who are important to you.
At ERS we only work with and recommend products from lenders who are approved by the Equity Release Council, including:
The Equity Release Council are the industry body for the equity release sector and operate to make sure that equity release is safe for you. They, like us, are independent and ensure that there are on-going high standards of practice and service for people who are looking to release equity from their property.
If you’re over 55 and your home is worth at least ₤70,000 then equity release could provide you with a new level of financial freedom.
That said, you’ll never face any pressure from any of our team to take an equity release product. In fact, there have been instances where we’ve recommended that customers do not pursue equity release and we ‘d be certain to tell you if we felt there was a better alternative for you.
In our experience, people who are interested in releasing some equity from their home have a lot of questions, including:
Who will own my home?
Can I live in my property for the rest of my life?
Can I protect some of my family’s inheritance?
We’ve answered these question and many more on our FAQs page however, many people value being able to discuss these points with an advisor who will get to know more about you, your home and your equity release plans.
To speak to someone in more detail you can click here to book a free consultation, and don’t forget, it’s without any obligation and you’ll never be pressured into something that isn’t right for you.
Other Areas we Serve:
“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 feel very comfortable that we can now afford stay in our home for the foreseeable future but have options further down the road.”
“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 advisor was always available to answer any concerns we had….thanks a million”
“We just wanted to thank Equity Release Scotland for explaining everything thoroughly to us and for answering our questions. We felt confident that we were getting accurate information and a great deal on our property. Many thanks.”
You can find answers to FAQs here or click on the button below to get your Personalised Quote Today.Request Your Free Quote
An Equity Release Lifetime Mortgage is the most common vehicle that companies use to facilitate equity release. When a homeowner decides to proceed with equity release, they complete an application for a lifetime mortgage. This works by taking out a long term loan, which is secured on the value of your property.
The details regarding how much you can borrow, are directly related to the value of the property and the homeowner’s age at the time of the application. There will also be further variations depending on the current health and lifestyle choices of the homeowner.
The loan works in a similar way to a standard mortgage except that there are no repayments made during their lifetime. Every year interest is added to the original loan plus the interest that has accrued from previous years. Upon the death of the homeowners or should they move out of the property into a nursing home, the property is sold, and the current debt repaid. Any money that is left belongs to the estate of the borrower.
This type of equity release plan will affect the value of the estate, and there may also be tax implications, so it is important to understand the product you are purchasing.
The ‘tax free‘ cash you can free-up from your property, depends upon three main factors. Your age, the value of your property and for a few lenders, any underlying qualifying medical conditions you may have. Your Lifestyle choices are also taken into account. A few examples are, your height, weight and whether or not you are a smoker. Generally you can release up to 55% of the value of your home. You can choose whether to release this as an initial lump sum, or in stages in the form of a smaller lump sum plus a reserve facility to help achieve your objectives.
The cash released is TAX FREE! It can be spent on anything you wish. However, if you already have a mortgage or a secured loan on your property, this must be cleared first. Any remaining balance from your Equity Release after clearing any secured debts will be yours to do as you please. The simplest way to find out how much cash you could release for your unique, individual circumstances is to use our free, easy to use Equity Release Calculator at the top of this page.
When you sign the contract, you are simply agreeing to another style of mortgage, so the ownership of the property remains with you.
No. For your continued peace of mind, Equity Release lenders approved by the Equity Release Council offer a ‘no negative equity guarantee’. This means you’ll never owe more than the value of your home once sold, and any shortfall cannot be passed onto your estate or your family.
You have the Right to Remain in your Home for as long as you choose
You will NEVER owe more than the value of your home due to the “no negative equity” guarantee.
You have the freedom to move to another property without financial penalty (subject to provider criteria)