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Unlock the potential of your property with specialist Later Life lending guidance from our award winning advisors.
Honoured with the prestigious equity release award in 2018, Craig has successfully helped thousands of homeowners understand whether a Later Life lending option is the correct route.
This advice has assisted clients in protecting their future whilst making the correct decisions on their finances.
Trust in our resident specialist to guide you towards a secure and fulfilling future.
All our initial advice is completely free of charge.
If you prefer to stay in your home, equity release offers a way to access tax-free funds tied up in your property.
The equity in your home is the remaining value after paying off any existing mortgage and other secured debts.
Provided you meet the eligibility criteria set by the provider, the money you release can be used for a wide range of purposes, such as taking a holiday or supporting a younger family member's university education.
Equity release is a tool available to anyone over the age of 50, there are different mechanisms of releasing equity based on age and requirements.
We have options to provide Retirement Interest Only mortgages, Lifetime mortgages and we work closely with specialists in the Home reversion sector.
If we feel your circumstances suit a traditional mortgage, we can provide an advisor to help find the best product for you.
I frequently assist clients that have reached the end of their mortgage term, and have no other option to consider other than sale, but they wish to remain in their home. In some cases, I also find that our clients are unable to afford the mortgage on their home, there are no other cheaper mortgage options and they do not wish to move. In this scenario, a later life borrowing option can be a suitable option.
I recently helped a lady of 70 upon her property so that she had more room in the property for family get togethers. I've also supported many of these cases and have a huge amount of experience in this type of transaction; this experience in turn would help you manage the transaction more efficiently.
Some of our clients have utilised Later life lending to reduce their inheritance tax bill. To understand how this would work for you, I can provide a referral to an inheritance tax specialist. Releasing property wealth and gifting to family is one way of reducing your estate value. Gifts to family could help them gain a foot on the property ladder. We have helped many people provide gifts to their family. A recent client even paid for his daughter's wedding day with a Lifetime mortgage.
I deal with a large majority of clients that wish to utilise funds to enjoy their life. They wish to travel to the places they love or in fact to explore new places. This is sometimes a decision they make following the loss of a loved one as they feel it's now they wish to enjoy the day they've been blessed with, alternatively they've worked hard all their life and wish to enjoy some well-deserved relaxation.
The most popular use of later life lending. Do you wish to add an extension or replace the conservatory for one that suits? Taking advice on its potential this type of borrowing could help you. One of our clients had recently been identified for a grant to upgrade her bathroom to a shower room, as she utilised a lifetime mortgage the grant she received was enough to upgrade to her house, which would now make a full age proof renovation.
As we see the state pension slip away, every time you get that bit closer to that golden retirement date, some of our recent clients have opted to use Later life lending to top up their income due to pension income gaps. I have also seen an uptake in clients using later life lending options due to tax implications attached to drawing their pension funds from a drawdown type situation. This can have tax advantages. We always recommend you seek advice from a pension specialist and we can provide a referral for this advice.
You can use these funds to purchase a holiday home or maintain a caravan in your favourite place.
You may have a situation whereby you wish to reduce your outgoings to enrich your life; with correct advice a later life lending option could be the solution for you.
Some of our clients have more complex care needs which may have been recommended to return into long term care, with careful planning a solution in later life lending options allowed the clients to consider the later lending options and spent their twilight years in the comfort of their own home, with their own pension care.
For some of our clients, a new car is high up on the list of things that they would do with the money raised. We recently had a lady jump the NHS queue to have her new knees completed and now she is already up and about enjoying life again.
Equity release can come with potential risks and consequences, professional advice should always be sought before proceeding.
To be eligible to release equity from your home, you simply need to fulfil the criteria below:
Equity release options, such as lifetime mortgages, home reversions, or RIO mortgages, are loans secured against your home, which reduce the equity in your property. To understand the specific features and potential risks, request a personalised illustration from our specialist later life lending adviser.
A recent client enquiry: the clients were 63 and had an IVA in the last 6 years. This situation can make borrowing difficult to obtain in the traditional mortgage sector. The clients had a property valued at £400,000 and an £80,000 interest only mortgage with a subprime lender called Landmark. The current lender had been very difficult to contact with no support provided to the clients.
I personally assessed the case with no charge and found a traditional interest only mortgage on an 11-year term with a fixed rate at 4.5% for 5 years, allowing them to take advantage of future interest rate decreases and to make future repayments from an inheritance.
Free advice. No obligation. No completion, no fee.
