At Essex Equity Release Advice Centre we provide support and advice on equity release for clients in and around the Braintree area. We are part of One Call Financial Advice Centre who were established in 1995 and have been providing leading advice on equity since 1999. With many years of experience in the industry, we are extremely proud of the reputation we have been able to build. Around 90% of our customers come from existing clients and referrals, reassuring you that we are trustworthy.
Our Proprietor and Equity Release Consultant, Ron Radway, will work with you to determine which equity release scheme works for your requirements. With several professional accreditations, you can trust us to give you the best guidance on releasing equity from your home.
We are members of several professional organisations and always ensure that we abide by regulations set out by these. These include the Equity Release Council, Independent Equity Release Adviser Alliance (IERAA), Personal Finance Society (PFS), Chartered Insurance Institute (CII), and the Later Life Academy. To add to this, the Equity Release Council incorporated the Safe Home Income Plans (SHIP) Standards Board. This aims to protect consumers and work to improve and increase safeguards for all sectors of equity release.
For every member of the Equity Release Council it is imperative that we also abide by the following set of principles:
- Ensure that all actions promote public confidence in equity release as a potential retirement solution
- Act at all times in utmost good faith
- Communicate high expectations for equity release outcomes in all dealings
- Ensure conflicts of interest are managed fairly and reduced to lowest practical level
- Exercise due care, skill and diligence in all that they do and uphold standards set out by professional bodies at all times
- Always act with best interests of clients and treat customers fairly in all their actions
Any scheme that qualifies for approval by the Equity Release Council must contain three main cornerstones. These are a guarantee on life residency, to never owe more than the worth of the property, and the ability to move home.
About Our Services
We provide guidance and advice on several areas around equity release. This enables you to make a decision on whether the scheme is for you. We can help you with:
- Equity release
- Lifetime mortgages
- Information about equity
- Home reversions
- What the money released can be used for
- How to do this
- Eligibility for the scheme
As a type of equity release scheme, home reversion enables older homeowners to sell all or part of their property at less than the market value in exchange for a cash sum or regular installments. Some of the market value can be protected for future use. You can also remain living at the property rent free as a tenant. In order to do this, you must agree to maintain and insure the house. If the plan ends or the property is sold, then the lender will collect their share of the sale. Moreover, if the property was sold in whole to the lender then they get all of the proceeds.
There are several benefits to home reversion plans and it is worth being aware of these. You can use the money you receive for whatever you need, including care and living costs. Home reversion is a great way of developing extra funds whilst not impacting on your ability to live within your own home. The stress of moving home can be avoided with this. Additionally, any money released will be tax-free. You do not have to sell the whole of your property and can choose to sell part, retaining some value for inheritance purposes.
These plans are regulated by the FCA (Financial Conduct Authority) to ensure that they are being carried out correctly.
However, it is important to remember that home reversion can be high risk and have an impact on several areas. These include benefits, taxation, long-term financial planning, and inheritance. That is why it is incredibly important to seek professional and independent advice before committing to any decision.
How Do I Do This?
Deciding to become part of an equity release scheme is a big decision to make. However, our guidance is available for you to help you make the right decision. We are available to talk on the phone for a chat or to meet up with you in person, either at your home or our offices. These meetings usually last for around 90 minutes and we will present a proposal for your consideration. Any decisions are left up to you and we will not contact you while you are making this decision. After the application, the Lender will instruct a survey or valuation and produce an offer.
Furthermore, it is mandatory for client protection reasons that legal advice is sort and you can instruct a solicitor of your choice to do this. We have some in the local area that we would recommend as they specialise in the concerns and needs of those who are in later life. For more about these, please visit our page here.
Braintree and the Surrounding Area
The town of Braintree has an estimated population of 42,000 and is twinned with the area of Pierrefitte-sur-Seine in France. There are plenty of things to do, including a trip to the Great Notley Country Park, Warner Textile Museum, and Braintree Museum. If you are in need of any equity release advice in the Braintree area, then please do not hesitate to get in touch with us today.
For more information about our equity release services and the advice that we can provide, please do not hesitate to get in touch with us. You can fill in our online contact form or give us a call today on 01268 799211.