Independent Mortgage Advisors

Equity Release

An Equity Release mortgage is a lifetime mortgage secured against your home.

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An Equity Release mortgage is a lifetime mortgage secured against your home. It is presumed the mortgage loan will be repaid upon your death.

Equity Release mortgages is a growing market, becoming much more competitive than you may have seen before. With lenders now competing over an ageing population, we can explain in plain English the benefits, as well as the potential drawbacks. An Equity Release mortgage is not something to rush into. At Equity Release Mortgage Advice we’ll take the time to talk you and your family through all of the options to help you decide if it is right for you. We always have a minimum of two, full, face-to-face meetings to make sure you have every opportunity to ask whatever questions you wish to.

If you decide to move forward with an equity release mortgage, we’ll help you find the best lender and product for you, in this fast changing sector.

We charge a fixed fee of £995, regardless of the value of your home or mortgage, which is only payable upon completion. If for some reason you decide not to go ahead with your mortgage, no fee will be charged.

Top Tips

  1. Consider all the options available – all of our Equity Release advisers are qualified to discuss a wide range of solutions, including mainstream mortgages.
  2. Only borrow what you need. We will explain how the compound interest on a lifetime mortgage adds up, and how the amount you owe can grow quite quickly.
  3. Think about paying the associated interest charges. With an equity release mortgage interest rolls up and is compounded, which means the amount that interest is charged on, increases as time goes by.
  4. Don’t judge a mortgage product on interest rate alone. Consider your future needs; Some plans offer over-payments or additional draw-down facility. Some have fixed interest charges and other have variable interest rates, which can be up to 25%. The mortgage product should be consider in its entirety.
  5. Involve family members or a trusted friend. It’s great to receive support from family or friends through this process and referring to them for a second opinion can be really valuable.

 

A lifetime mortgage is secured against your home. You should always think carefully before securing a loan against your property

Checklist

  1. Equity release is available for homeowners with a property worth at least £70,000 and aged between 55 and 95. Find out if your eligible by speaking to our Equity Release Advisers
  2. Be very clear about why you are interested in an equity release plan. We will go through your plans to help determine which options are best situated for your circumstances.
  3. Explore all options available to you in addition to an equity release mortgage. Remember a lifetime mortgage is secured against your home. You should always think carefully before securing a loan against your property
  4. Make sure you are fully aware of the pros and cons of an Equity Release mortgage. For example, we will consider the effect an equity mortgage may have on any state benefits you receive.
  5. Understand the associated fees you will be charged. We have a fixed fee of £995, regardless of the value of your plan, which is only payable upon completion. If for some reason you decide not to go ahead with your mortgage, no fee will be charged.

Speak to one of our advisers today

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Find out more

Equity Release Mortgage Advice is a subsidiary of JLM Mortgage Services Ltd. JLM is one of the fastest organically grown mortgage networks in the UK; privately owned, enabling us to put our customers first. Our customers are at the heart of everything we do.

Call 01462 341 241 or email: info@er-ma.org

www.equityreleasemortgageadvice.org

Equity Release Mortgage Advice is an appointed representative of JLM Mortgage Services. Authorised and regulated by the Financial Conduct Authority. FCA Registration Number: 300629.

 

 

 

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Great service from Julian, he listened to what we wanted and sorted it. We'll definitely use his services ...read more

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Case Study:

Equity Release

We were rather sceptical about equity release having heard tales of extortionate pay back rates etc. Once you were involved information became much clearer. You explained the different types of equity release and gave us concise and understandable information so that we could form our own decision on what was right for our own individual circumstance. More info
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