Equity Release

Equity release can provide a regular income to top up your pension, giving you extra financial security and flexibility in retirement.

Many homeowners use equity release to renovate or adapt their home, making it more comfortable, energy-efficient, or suitable for later life. If you do not have funds available for this purpose Equity Release is an option for you.

If you still have a mortgage or other loans, equity release could clear these debts, giving you peace of mind and more disposable income. This is particularly relevant if you have an interest only mortgage approaching the end of its term with no repayment strategy in place.

Equity release can be used to gift money to children or grandchildren—helping them with a house deposit, education fees or other milestones.

Some choose to fund travel, a new car, or hobbies—enabling them to enjoy their retirement to the fullest.

Equity release could help cover the costs of home care or medical support, allowing you to remain in your home longer.

Equity Release allows homeowners in Devon & Cornwall to access some of the money tied up in their homes without having to move. A Lifetime Mortgage is the most common type of Equity Release. It allows a tax free lump sum, regular payments known as drawdown or a combination of both.

The amount of equity you may be able to release deponds on your circumstances, including age, house value, lender criteria and your current health & lifestyle circumstances. It is important for homeowners in Devon & Cornwall to speak advice.

If you proceed with a Lifetime Mortgage then you will retain ownership of your property even when funds are taken. Home Reversion Schemes (which we do not advise on) have different rules.

You only have to repay your Lifetime Mortgage when you pass away, move into care or sell your property.

This is where the charged monthly interest for your loan is added to the outstanding loan balance instead of being paid each month. This means the amount owed will increase over time, making advice essential to decide if this is the right product for you.

A drawdown faciltiy for Equity Release allows owners to access money from the value of their property in smaller ammounts over time, rather than taking the full ammount as a large lump sum. You only pay interest on what you use from your agreed lending total facility.