Release Money From Your Home in Time for Christmas – Equity Release

£201.00

<p> <strong>Equity release consultation:</strong><br> <ul class="bulletList"> <li>Eligibility </li> <li>Amount drawdown </li> <li>Interest rates and overall costs </li> <li>Inheritance planning </li> <li>Criteria cross check and legal requirements </li> <li>Timelines for completion </li> <li>Considerations </li> <li>Reduces broker fee up to 50% on completion (broker fees typically £1000) </li> </ul></p> <p><strong>What is equity release?</strong><br> <ul class="bulletList"> <li>The money released from your home using a lifetime mortgage can be taken as a one-off lump sum, or as part of a drawdown plan. With a drawdown plan you can release additional money in stages, and only pay interest on the amount that you actually release. </li> <li>You can make monthly payment to offset the lender interest or you can choose to make no monthly payments. </li></ul></p> <p><strong>Who can get equity release?</strong> There are certain conditions you must meet before being able to take out an equity release plan. Generally, they include: <br> <ul class="bulletList"> <li>You and your partner are above a certain age, usually 55 for lifetime mortgage and 60 for home reversion. The older you are the more you can release. </li> <li>If you have an existing mortgage or secured loan, you will need to use the money you release to pay it off immediately; you’ll then be free to use whatever money is left over for your other financial needs. </li> <li>You must own your home in the UK and it must be your main residence. </li> <li>Your home must be over a certain value. It may need to be in a reasonable condition too. </li></ul></p> <p><strong>Who owns the property?</strong><br> <ul class="bulletList"> <li>You continue to reside at your home and maintain 100% legal ownership </li> <li>Most if not all products have a no negative equity guarantee </li></ul></p> <p><strong>How long will it take to receive the funds? </strong><br> <ul class="bulletList"> <li>Typically, you receive the funds between 6 and 13 weeks</li></ul></p>

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