Equity release is a big decision for any household and knowing all the facts can make this much easier. Equity can give you a massive financial boost and it is important to consider all the options. Essex Equity Release can provide unbiased advise for you regarding all equity options.
For more details, please feel free to call us today on 01268 799211.
What To Consider?
Our team of equity release advisors work with a number of businesses to find the best equity release plan. We will explain all the possible options, as well as what equity is, the reduction in your estates’ value and any benefits you are eligible for that may be affected.
All cash you release from your property is tax-free. This gives you the opportunity to unlock hundreds of thousands of pound and spend it on whatever you want. Additionally, with two types of equity options, we can find the best plan for your needs.
Lifetime mortgages are the most popular form of equity release, allowing you to continue owning your home. Like any other mortgage, this loan is secured against home and you should always consider carefully whether this is the best option for you and your property. Lifetime mortgages usually have no monthly repayments. Instead, the loan builds up interest to be repaid when the plan comes to its end. As equity release is a lifetime commitment, this is a popular choice as repayments only have to be made when you die or enter long-term care.
Our equity advisors will always help you find a plan where the interest suits you, as well as warning you of plans where interest can grow too quickly and become an issue. All our plans hold a no negative equity guarantee. This ensures the final repayments owed will never exceed the value of your home and debt will never be passed on to family, however, it can affect your tax position.
You should always seek advice before releasing equity, whether this is for a brief consultation or to discuss all the plans that are available.
Alternative Options to Equity
Whilst there are many suitable equity plans for homeowners, Essex Equity Release will always discuss alternative options to ensure you make the right decision. This could include:
- Asking for Financial Help
- Claiming Benefits
- Conventional Mortgages
- Home Downsizing
- Savings & Investments
All of these methods can be a good way to gain extra cash as well as equity release. Our advisors will always discuss the best option for your needs.
Book Equity Consultation Today
Our experts can speak to you at a suitable time, whether this is face-to-face, over the phone or through emails, you can organise equity consultation whenever you require. Call us today on 01268 799 211 or fill in our contact form to make an enquiry.