- 1 FAQs
- 1.1 Request Your Free Guide
- 1.2 Equity Release Frequently Asked Questions
- 184.108.40.206 What is an Equity Release Lifetime Mortgage?
- 220.127.116.11 Who Owns the Property?
- 18.104.22.168 What is an Equity Release Calculator?
- 22.214.171.124 Once the Application has been Agreed, Who Owns The Property?
- 126.96.36.199 Can I Protect some of my Family’s Inheritance with a Lifetime Mortgage?
- 188.8.131.52 Could my Family be left with any Debt as a Result of a Lifetime Mortgage?
- 184.108.40.206 Should I Talk to my Family before taking out a Lifetime Mortgage?
- 220.127.116.11 Is There Any Risk That My Home Could Be Repossessed?
- 18.104.22.168 Can My Family Buy The Property Upon My Death?
- 22.214.171.124 How Much Can I Free Up?
- 126.96.36.199 Will I Owe More than my Property is Worth?
- 188.8.131.52 What Can Equity Release be Used For?
- 184.108.40.206 Can I Live in my Home for the Rest of my Life?
- 220.127.116.11 How Quickly Will We Receive The Money Once The Application has been Approved?
- 18.104.22.168 I Still Have an Outstanding Mortgage Balance, Can I Still Qualify for a Lifetime Mortgage?
- 22.214.171.124 What Happens if my Partner Dies or Moves into Long-term Care?
- 126.96.36.199 What Is The Equity Release Council?
- 188.8.131.52 How Will I Receive the Money?
- 184.108.40.206 How Will My Property Be Valued?
- 220.127.116.11 Can The Lender Ever Ask For Their Money Back?
- 1.3 Book Your Free Consultation
- 1.4 Request Your Free Guide
- 1.5 Guarantee 1
- 1.6 Guarantee 2
- 1.7 Guarantee 3
- 1.8 Free Equity Release Guide
- 1.9 Contact Us
- 1.10 How Much Can You Release?
In recent years the housing market within the United Kingdom (and Scotland in particular) has experienced dramatic growth, meaning that many home owners now have a significant amount of equity or value tied up in their home.
Unfortunately, many home owners, particularly those in retirement, find their income is becoming increasingly inadequate in keeping up with the rising cost of living. Their retirement income no longer allows them to replace the family car or take off on a nice foreign holiday like they used to do when working and earning a salary.
To bridge that financial gap and achieve their financial objectives they are now turning to the possibility of releasing some of the value in their homes. They are essentially ‘asset’ rich and ‘cash’ poor..
The clients can take this money in a large lump sum or a smaller lump sum with a reserve or draw-down facility which can be used when needed anytime in the future.
The Lifetime Mortgage is repaid when the homeowner dies or moves into a care home with little prospect of returning home. The beneficiaries of the homeowner’s estate, in most cases their children and grandchildren, can then sell the property and repay the lender the sum borrowed plus any interest accrued over the period. Any surplus left over is shared among the designated beneficiaries.
Some of the Equity Release Frequently Asked Questions posed by clients and our corresponding responses are shown below.