Equity Release Mortgage Broker Hawick

Expert Advice For Equity Release

Are you a homeowner? Are you aged 55 and over? Are you in need of a more comfortable retirement or general financial situation? Then an equity release mortgage may be the right option for you.

Looking for a First-Class Plan for your Mortgage?

It is very important to get professional advice and fully understand the terms and conditions of an equity release mortgage before entering into an agreement. That is why I am here to help you with all the facts and information I have. Not only that, but you will be getting advice from a mortgage expert with years of experience.

An equity release mortgage lets homeowners aged 55 and above release tax-free cash from the value of their home. The amount one can release is based on your age and how much your home is worth.

You don’t have to have a fully paid off mortgage to be eligible for an equity release mortgage. Additionally, you can claim your money as one big lump sum or as a series of smaller payments.

Equity Release will reduce the value of your estate and may affect your entitlement to means tested benefits and tax status

You are strongly advised to register a lasting power of attorney to mitigate the risks associated with managing financial affairs in the event of cognitive decline’

I AM NOT AUTHORISED TO PROVIDE ADVICE FOR EQUITY RELEASE PRODUCTS. THIS WILL BE PASSED TO A SUITABLY QUALIFIED AND AUTHORISED SPECIALIST. TO UNDERSTAND THE FEATURES AND RISKS ASK FOR A PERSONALISED ILLUSTRATION. AN EQUITY RELEASE PRODUCT WILL REDUCE THE VALUE OF YOUR ESTATE, WILL NOT BE SUITABLE FOR EVERYONE AND MAY AFFECT YOUR ENTITLEMENT TO STATE BENEFIT

I am just a phone call
away for any queries or advice.

How Equity Release Can Help

An equity release mortgage can help you in numerous ways. You can use the money you release however you like. However, always contact me before choosing this option as I can help you to understand the full advantages and disadvantages.

– It can help you pay for care needs.
– It can release pressure on you if creditors are chasing you for payment (repaying an existing debt or mortgage).
–You can help your children with financial difficulties or to purchase their own home.
– You can travel and do things you’ve always wanted to do.
– It can help with long-awaited home improvements.
– It can increase your income, helping you live more comfortably and enjoy your retirement.
It’s important to note that even though there are obvious advantages, disadvantages include the fact that if you plan on passing assets to your loved ones once you pass away, an equity release mortgage could result in them inheriting less.

Seeking Trustworthy Expert Advice?

There is the option to protect an inheritance for your family from the value of your home. The amount you protect will not be considered when calculating how much you can borrow. You can discuss this with our dedicated advisors at Bespoke Home Finance.

Some equity release mortgage providers also offer a no negative equity guarantee. This means that the money you will need to pay back will never be more than the total value of your home. This is usually paid off from the sale of your home when the last surviving borrower passes away or moves out of the house into long-term care.

Types of Equity Release Mortgages:

The most common form of equity release. A lifetime mortgage allows you to take out a mortgage secured on your property whilst still retaining ownership.
With the home reversion scheme, you essentially sell part or all of your property to a home reversion provider at below market value in return for a lump sum or regular payments. You have the right to continue living in your property until you pass away, but as a tenant.

Is There a Minimum or Maximum Age for Equity Release?

The minimum age for an equity release mortgage is 55, whereas there is no maximum age. However, some providers may set their own upper age limits. Furthermore, if it’s a joint application, the youngest applicant will have to be at least 55.

How Long Does an Equity Release Take?

Releasing equity generally takes around 8-12 weeks. However, it differs depending on the product and provider. Some applications take as little as 3 weeks whereas other complicated cases can take multiple months.

Looking for a First-Class Plan for your Mortgage?

Advice From Bespoke Home Finance

If you are looking for trustworthy and professional expert advice to guide you every step of the way, then look no further than Bespoke Home Finance.

Furthermore, if you are looking to move home or even buy your first, we are here to help. Call me today on 0330 111 2477 or fill in the contact form below. I look forward to hearing from you and remember, there is no obligation or no high-pressure tactics on mine.

Based in Scotland, I offer my mortgage advice services in Edinburgh, Glasgow, Scotland and all across the UK too!

company note
  • Bespoke Home Finance Ltd is an Appointed Representative of Primis Mortgage Network, a trading name of Advance Mortgage Funding Limited which is authorised and regulated by the Financial Conduct Authority.
  • This firm usually charges a fee for mortgage advice. The amount of the fee will depend upon your circumstances and will be discussed and agreed with you at the earliest opportunity. YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
  • The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.
  • The Financial Conduct Authority does not regulate all Buy to Let mortgages
  • AN EQUITY RELEASE PRODUCT WILL REDUCE THE VALUE OF YOUR ESTATE, WILL NOT BE SUITABLE FOR EVERYONE AND MAY AFFECT YOUR ENTITLEMENT TO STATE BENEFITS. TO UNDERSTAND THE FEATURES AND RISKS PLEASE ASK FOR A PERSONALISED ILLUSTRATION.
  • A LIFETIME MORTGAGE WILL REDUCE THE VALUE OF YOUR ESTATE, WILL NOT BE SUITABLE FOR EVEYONE AND MAY AFFECT YOUR ENTITLEMENT TO STATE BENEFIT
  • TO UNDERSTAND THE FEATURES AND RISKS, ASK FOR A PERSONALISED ILLUSTRATION.