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Points to consider
We believe that advice is only of value when it's independent. That is
why we've partnered with independent financial advisers. Equity
release can provide you with financial freedom in retirement but it's
not always the right option for everyone.
Our independent advisers will consider your individual circumstances to
tell you whether a plan would be the most suitable option for your needs.
It is also important to consider the following points when thinking about
whether to release cash from your home.
- All plans will reduce the value of your estate, so
it's important to involve your family and discuss your ideas with
them. We welcome your family to be involved in any of your
consultations.
- Would your entitlement to state benefits be affected,
and if so, how would you feel about this?
- Releasing cash from your home is a lifetime commitment
and the loan is only expected to be repaid upon your death or entry
into long term care. Early repayment charges may apply on some plans
if you want to repay the loan early.
- You could sell your home and move somewhere cheaper
(but it could be tough and expensive to find somewhere attractive and
affordable)
- You could ask your family for financial assistance
- You could consider other forms of borrowing, such
as loans or traditional mortgages (subject to affordability)
- You could use other money you may have access to
such as savings or investments
- All plans approved by SHIP (Safe Home Income Plans)
allow you to move home if you wish. Any move will be subject to the
provider's criteria.
Our independent adviser partners are specialists in equity release and will
apply their wealth of experience and expertise to help you to consider all
of the above points, as well as talking you through the advantages and
disadvantages of the various lifetime
mortgages and home reversion plans
available.
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