Equity Release | Lifetime Mortgage Advice

Make the value in your home work for you with an equity release or a lifetime mortgage

Your home is a valuable asset and equity release can be a great way to take advantage of this. However, it’s also a process full of potential pitfalls

As an expert in property finance, I can help you make the most of your equity release and help you avoid all of the downsides that you may run into. This means less worrying, more winning when it comes to enjoying your retirement or using funds for something special.

All products meet Equity Release Council standards. 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.

For equity release, I charge £495 once the funds have been made available.

What is equity release?

Your home is an investment that you will have been ‘paying into’ every month since you took out your mortgage. When you are aged 55 or over you can access a lifetime mortgage.

This type of finance is where you can access the equity in your current property or organise a mortgage to buy a new one -there are options where the interest can be serviced every month, to ensure you can still leave your family financially secure. There are further options to allow the interest to roll-up for your lifetime, should that better suit your needs.

Depending on your circumstances, one of these options may be better than the other – or perhaps equity release may be entirely wrong for you. It’s my job to help guide you through this process and advise you towards making a decision that makes sense for you without impacting too heavily on your family or estate.

It’s also possible to use a lifetime mortgage to help purchase a new property. Meaning you can retain some of your own funds for home improvements or simply to enjoy.

Book an equity release consultation

The Benefits Of Equity Release

Equity release is done for good reason: it offers a great way for a homeowner to access funds that may support their lifestyle goals without being hampered by tax. The benefits include:

No tax payable on release of equity via a Lifetime Mortgage.

No need to move: rather than having to downsize to free up funds, you can stay in your current home.

Option for monthly repayments: typically you don’t need to pay the finance off until your home is sold when you die, or you are moved into residential care on a permanent basis. However, there is the option to service the interest to make sure you protect the further equity in your home.

Capped limit: if you choose accredited lifetime mortgage with a ‘no negative equity guarantee’ you will never owe more than the value of your home.

Repay interest-only mortgage: you can use the cash release process to pay off an interest-only mortgage and cut down on money owed.

Adaptations and home improvements: equity release is often used to upgrade or adapt a home to make it more suitable as your lifestyle changes.

Downsizing: if you’re looking to move into a smaller home or apartment, equity release can free up cash to support your lifestyle.

The Risks of Equity Release

Equity release also carries some significant risks, making equity release advice vital.

Interest: like a mortgage, an equity release loan is affected by compound interest. If you choose a product that does not allow you to make interest payments, the remaining equity in your home will be diminished – leaving your family or estate with a smaller inheritance

Benefits: if you receive government benefits, equity release can affect them. Talk to me before any equity release decision and I can help mitigate this.

Inheritance: if you plan on leaving your home as an inheritance, an equity release may not be ideal as typically, your home must be sold to pay off what is owed to the lender and any leftover funds are then given to the family.

Fees: there may be set up fees and redemption fees if you decide to repay your release early.

The risks of equity release make one thing plain: you really need to talk to an equity release advisor who knows what they’re doing and can help you make the right choice. Luckily for you, I’m that provider!

Talk to me today and let’s make sure you make the right choice.

Book an equity release consultation

What My Clients Say

With this being our first purchase, it was very daunting and overwhelming but Nicola made the entire process very easy and smooth with her bubbly personality and professionalism. Nicola is very approachable and we felt that we could contact her any time about any queries or concerns which were then addressed promptly and efficiently. We would definitely recommend Nicola to anyone going through this process. Thank you so much for all of your help and advice Nicola! (15/07/23)

Miss K – Whitley Bay

Communication from Nicola was great throughout, my circumstances were not straightforward, but her patience and expertise guided me through and helped me understand everything throughout the process. (27/12/23)

Miss B- Heaton

Nicola provided a relaxed and supportive service, she explained everything clearly and concisely throughout the process and answered my questions promptly. A fantastic service. (23/10/23)

Mr H – North Shields

Nicola had a great attitude, she supported me throughout and always offered a range of options and the pros and cons to all (28/11/23)

Mr B – Gosforth

Nicola offered quality and personalised advise, her communication was excellent and I felt very valued. (27/7/23)

Miss M – Newcastle

Get in Touch

Ready to get started? Choose NC Property Finance for a no-complications, friendly service right here in the North East.

A Lifetime Mortgage will reduce the value of your estate and may affect your entitlement to means-tested benefits and tax status.

The impact of not servicing monthly interest payments on a Lifetime Mortgage is that the outstanding debt can grow rapidly, thus reducing the value of your estate.

For example, if the interest rate was 7% a year, a £50,000 loan would double to £100,000 after 10 years assuming no repayments are made.

This is an example for illustrative purposes only and personalised advice and recommendations should be sought from a qualified professional. You are strongly advised to register a lasting power of attorney. This will allow your affairs to be managed by somebody else if your mental abilities significantly decline’