One type of equity release is a lifetime mortgage, which, like a traditional mortgage, is a loan secured against your home. Typically, you can use the money released from your home however you like to help finance your retirement.

If a lifetime mortgage is for you, it could help with:

•   A tax-free boost to your retirement finances

•   Home improvements

•   Going on holiday

•   Help with care fees

Clear existing debt:

•   Clearing existing mortgage debt

•   Paying off credit cards and loans

Help family and friends:

•   Getting on the property ladder

•   Paying for a wedding

•   Helping family in financial difficulty

Stay in the home you love:

•   An alternative to downsizing

There are equity release plans to suit a whole variety of needs including the ability to take an initial lump-sum, or following an initial sum take smaller amounts as and when you need it.

There are no affordability checks or requirements to make monthly repayments, as the loan plus roll-up interest is repaid when the plan ends, usually when you, or the last surviving applicant, pass away or move into long-term care. There are also plans where you can choose to make regular interest payments.

Your local adviser from The Equity Release Experts will guide you through your options, providing face-to-face advice in the comfort of your home. They will search the whole of the market to find a plan to suit your requirements. If they don’t think equity release is right for you they will tell you.

Things to Consider

A lifetime mortgage, the most popular form of equity release, is a loan secured against your home. Equity release will reduce the value of your estate and may affect your entitlement to means-tested benefits. You will also need to take legal advice before releasing equity from your home. Lifetime Mortgages and Home Reversion Plans are not right for everyone.

Unless you decide to go ahead, The Equity Release Experts’ service is completely free of charge as The Equity Release Experts’ usual advice fee of 1.99% of the amount released, would only be payable on completion of a plan, subject to a minimum advice fee of £1,499. However, if you are re-negotiating a new product to replace your existing Equity Release provider, for example if you wish to take advantage of lower interest rates currently available - then the fee may be waived. Your Financial Adviser will explain everything to you.

Your Questions Answered

Will I still own my own home?
Yes, with a lifetime mortgage you can rest assured that you will always remain the owner of your property and can continue living there for as long as you choose, or until you move into long term care or you die.

Can I still leave an inheritance for my family?
Equity release will reduce the value of your estate, however, some plans offer a Guaranteed Inheritance Feature allowing you to protect a percentage of your home’s future value for your loved ones.

Can I move home?
Yes, with Equity Release Council approved plans you can move home at any point in the future and take the plan with you (subject to provider criteria). Should you wish to downsize in the future, some plans offer downsizing protection, usually after an initial period of 5 years from when the loan completes, meaning you can repay your loan in full with some plans offering a no early repayment charge (subject to terms and conditions) if your new property doesn’t meet the lender’s criteria.

How can Trusted Xperts help?

We have partnered with independent equity release specialists, The Equity Release Experts, offering 100% impartial equity release advice. If you decide to go ahead, the advisers from The Equity Release Experts will search the entire market to find the best plan for your circumstances.

You will need to take legal advice before releasing equity from your home. Lifetime Mortgages and Home Reversion plans are not right for everyone.

Telephone calls may be monitored or recorded to enable us to improve our service to you. The Equity Release Experts is a trading name of TERE Advisers LTD which is an appointed representative of Key Retirement Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority. Registered in England No. 12269172. CKP653.1 (12/19). Registered office: Baines House, 4 Midgery Court, Fulwood, Preston, Lancashire, PR2 9ZH.

Please visit our Equity Release page where you can complete a secure Equity Release Contact form.