Your guide to. Equity Release. with no obligation

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Your guide to. Equity Release. with no obligation"

Transcription

1 Your guide to Equity Release Expert advice with no obligation

2 Your introduction to equity release Your retirement should give you the freedom to do all the things in life you haven t had time for. However, you may be finding your income needs to stretch further and you can t afford to do all the things you ve dreamed of. Equity release may be able to offer a way to release cash from your home to use however you choose whether it s for the holiday of a lifetime, a special purchase, home improvements, or simply to make day-to-day life more comfortable. Our informative guide to equity release explains the main types of plan available and can help you when considering the important issues and implications involved. Taking out an equity release plan is a major financial step and seeking specialist advice is absolutely essential. With the Saga Equity Release Advice Service, provided by Just Retirement Solutions Limited (JRS), you can receive no-obligation expert advice and it s provided at no additional cost to you. You will have access to a panel of carefully selected providers so you can feel assured that the product recommended is best suited to your individual needs. As a member of the Equity Release Council, JRS adheres to a strict Code of Conduct (outlined on page 8), which provides a number of safeguards and guarantees for customers. Your specialist equity release adviser will: review your circumstances in full, assess whether equity release is right for you and explain the advantages and disadvantages of equity release assess the impact equity release will have on your eligibility for state benefits, your tax position and your provision for leaving an inheritance check to see whether you qualify for any additional state benefits only recommend a plan with a fixed interest rate, so you always know exactly what you owe only recommend plans that offer a no negative equity guarantee, meaning that as long as you adhere to the conditions of the plan, you will never leave a debt to your estate as a result of taking out a plan support you through every step of the process. On page 7, you can find out more about our advice service and how it could help you. 2

3 Contents Page What is equity release? 4 Why people are releasing cash from their homes 4 Some good reasons to choose equity release 5 The two main types of equity release plan 6 Some points you should consider 6 How the Saga Equity Release Advice Service can help 7 Saga Equity Release Plan 8 Equity release case study 9 Frequently asked questions 10 3

4 What is equity release? Put simply, if you and your partner are homeowners aged 55 or over, you could use equity release to help you free up cash from the value of your property. The equity in your home is the difference between its value and any outstanding loans, such as a mortgage, secured on it. Equity release is a way of unlocking a proportion of the value - or equity - you have in your home in exchange for a tax-free lump sum. Equity release plans can be quite complicated and the decision to take one out is a major step for many people. Your house may well be your main asset as well as your home, so taking specialist advice from financial experts, such as the Saga Equity Release Advice Service, is essential. Am I eligible? To be eligible for equity release, the youngest applicant must be 55 or over, and you must own and occupy a property in the UK that is worth at least 70,000.* If you have an outstanding mortgage or other debts secured against your property, you may still be eligible, however you would need to repay these with some of the equity you release. The ownership status (leasehold or freehold), property type and even construction are all factors that will influence which product from which equity release provider is most suitable for your needs. The specialist adviser working for you through the Saga Equity Release Advice Service will explain things fully and only recommend products that are right for you and your individual circumstances. How much money can I release? This will depend on a number of factors, the main ones being your age and the value of your property. The older you are, the greater the proportion of your home s value could be released. The amount you could borrow, and the way in which you could borrow it, will depend on the plan you choose. For an indication of the maximum amount you could potentially release, visit our online calculator, which can be found on our website, saga.co.uk/equity-guide4 Why people are releasing cash from their homes Longer life expectancy Advances in modern medicine are helping us to live longer in fact, the average 65 year-old male today will live to be 83 # and the average 65 year-old female to be 85 #. However, it means that retirement incomes have to stretch a lot further to keep up with inflation. Dealing with difficult times When economic conditions are difficult, those who rely on income from pensions, savings and dividends may be hardest hit, while others hoping to sell and downsize to provide extra cash may find it difficult to find a buyer. *Minimum age and property value varies between product providers. #Source: Interim Life Tables, England & Wales Office of National Statistics Released March

5 Some good reasons to choose equity release The good news is that, despite the uncertain property market, UK house prices are still much higher than ten years ago with the average house worth tens of thousands more than a decade ago, so many people still have substantial equity tied up in their homes. Equity release could enable you to turn some of your property s value into accessible cash without having to move. The opportunity to spend the equity on almost anything you choose You can use the equity released from your home to spend on almost anything you choose. For many people, the cash is used to do the things they ve always dreamed of in retirement such as a holiday of a lifetime or to fund a significant purchase. Or sometimes the equity can be used to clear any existing debts you may have or help your children onto the property ladder. The opportunity to stay in your own home With equity release you don t have to move or sell your home to unlock the equity it holds. Tax efficiency Money released from the value of your main home is free of tax, although if the cash is then invested there may be tax to pay on any income or growth. Tax treatment depends on the individual circumstances and may be subject to change in the future. Enjoy your money now If leaving your property to your family is not a key concern, then releasing the cash tied up in it may be an alternative worth considering. With equity release you can unlock this money as and when you need it. Think carefully before securing other debts against your home. Source: Halifax House Price Index, existing houses (all buyers), non seasonally adjusted - monthly data. July

6 The two main types of equity release plan Lifetime mortgage A lifetime mortgage allows you to release a cash lump sum (or, with some plans, take smaller amounts as and when you need them) from the value of your property. With most lifetime mortgages, there are no regular payments to make and nothing has to be paid back until the end of the plan. This is usually when the last planholder living in the property dies or moves into long-term care. You continue to own and live in your own home and may benefit from any future increases in its value. It is important to note that a lifetime mortgage is a lifelong commitment. If you choose to repay the loan early, early repayment charges may apply. Home reversion plan Home reversion plans involve selling part or all of your home to a home reversion provider in return for a cash lump sum. If you choose a home reversion plan, all or part of your home will belong to the provider company. You can remain living there for the rest of your life rent-free and continue to be responsible for its maintenance and upkeep. There s no interest to pay either, because a home reversion plan is not a loan. However, if your property increases in value, you will only benefit from the increase in value of the proportion you still hold. Usually when you die or move into long-term care, the property will be sold and the company receives its share of the proceeds. A home reversion plan is a lifelong commitment and if you wish to buy back your share of your home, you will have to do so at the current market value. The solution to releasing equity from the value of your home may involve a lifetime mortgage or a home reversion plan. To understand the features and risks, ask for a personalised illustration. The Saga Equity Release Advice Service can advise you which type of equity release plan is suitable for your financial needs. Some points you should consider Although equity release could enable you to help your family whilst you are still living, it will reduce the value of your estate and the amount that will go to your beneficiaries on your death. Equity release schemes involve borrowing against (lifetime mortgages) or selling all or part of your home (home reversion plans) and there may be more suitable methods of raising the funds you need. For example, making sure you are receiving all the state benefits you are entitled to, or moving to a smaller property. Equity release may affect your tax position and your entitlement to means-tested benefits and grants. If you choose to meet or talk with an adviser from the Saga Equity Release Advice Service, your adviser will explain this in more detail. Equity release is not for everyone. Taking professional advice such as that offered by the Saga Equity Release Advice Service is essential. 6

7 How the Saga Equity Release Advice Service can help Equity release is a serious decision and it is important you understand the advantages and disadvantages to make a decision that s right for you. So, the first important step to releasing equity from your home is to seek expert advice. That s where the Saga Equity Release Advice Service, provided by equity release specialist JRS, can help. No-obligation expert advice - at no additional cost to you Some companies charge for providing advice on equity release. With the Saga Equity Release Advice Service, we can provide no-obligation expert advice with no advice fee. A simple process After you call the Saga Equity Release Advice Service, the adviser will first check your eligibility for equity release. If they believe you are eligible, an appointment can be made for you to meet an adviser (or speak to them by phone, if that s your preference). In the meantime you will receive a budget planner to help you assess your current and future expenditure and needs. Then, when you meet the adviser you can discuss your goals and requirements, look at the available options and ask any questions. After your appointment the adviser will review your objectives and put together a report. They will then make a further appointment with you to present their recommendations. If you are happy with their proposal, you will then complete the application form, pay any fees (if applicable) and a solicitor will be appointed to complete the process. If you decide to take out a plan, Just Retirement Solutions Limited will pay Saga an introductory fee. Equity release is not suitable for everyone and your adviser will tell you if it is not right for your circumstances. Call Saga on and ask to be put in touch with a specialist adviser. 7

8 Saga Equity Release Plan with no upfront fees* One of the plans available through the Saga Equity Release Service is the Saga Equity Release Plan and your adviser will be able to tell you whether this option is the most suitable for you. If it is not, they will explain why and recommend another plan more appropriate to your needs. The plan is only available to those aged 60 or over. What is the Saga Equity Release Plan? The Saga Equity Release Plan is a lifetime mortgage which gives you the flexibility to release tax-free cash either as a lump sum or in smaller amounts as and when you need it. You continue to live in and own your home and there are no monthly repayments to make. The loan only becomes repayable on the sale of the property, or when the last planholder dies or moves permanently into long-term care. No upfront fees* - more money for you We understand that if you are looking to release cash from your home, the last thing you need is to find additional cash to pay fees. The Saga Equity Release Plan has no set-up or valuation fees and what s more 425 will be paid towards your legal fees. This should cover the basic fee for the legal work involved in a lifetime mortgage, although you will be responsible for paying any additional fees over and above this. The Saga Equity Release Plan is provided by Just Retirement Limited. As a member of the Equity Release Council, Just Retirement Limited adheres to a strict Code of Conduct, which provides a number of safeguards and guarantees for customers. The Code of Conduct states that: any recommended plan will have a no negative equity guarantee, meaning you will never owe more than the value of your home you have the right to stay in your property for life, as long as it remains your main residence a plan should be presented in a clear way, including an explanation of its costs, benefits and limitations all legal work is carried out by a solicitor of your choice you have the right to move your plan to another suitable property without any cost the main impact that equity release will have on your estate is clearly explained. This is a lifetime mortgage. To understand the features and risks ask for a personalised illustration. The Saga Equity Release Plan is only available through the Saga Equity Release Advice Service provided by Just Retirement Solutions Ltd. *The no upfront fees offer applies to the Saga Equity Release Plan. If a plan from another product provider is recommended, application, valuation and legal fees may be charged. 8

9 Equity release case study The following case study is a fictional example designed to represent a typical situation and does not relate to any particular individuals. You should not look upon this case as financial advice or a recommendation of a particular course of action. Rather, consider your own circumstances carefully and consult the Saga Equity Release Advice Service for a professional, fully advised service. Improving the home Mr and Mrs Adams, aged 72 and 70, have lived in their current property (a four bed detached house) for 25 years. They bought it for 58,749 and it is now worth 246,813, a staggering increase of 420%. Having been there for so long, they could not imagine living anywhere else. However, the property has become quite expensive to maintain and could do with some modernizing. Their younger son read an article on equity release and suggested it as a way for them to remain in their home without reducing their standard of living. They sought specialist advice and their circumstances were reviewed, including looking into any grants that might be available. They were recommended a lifetime mortgage with a drawdown facility, which would provide them with 25,000 now to replace the kitchen and carry out other home improvements, plus another 15,000 for a longed-for trip to Australia to visit relatives. They also have the option to withdraw a further 38,980 from their property in the future. The interest charged will be added annually to the value of the loan, so they do not have any repayments to meet. Also, interest is only charged on the equity released they will not pay interest on funds until they are drawn down. Notes: Original price based on value of detached property in North West England in Q Halifax House Price Index. Current house price based on house price calculator North West England Q to Q Halifax House Price Index August Released amounts based on Just Retirement Limited Roll-Up Lifetime Mortgage September

10 Frequently asked questions Will I still own my home? If you take out a Lifetime Mortgage (such as the Saga Equity Release Plan) the property remains in your name, as it would be with a conventional mortgage. There may be an early repayment charge if you settle the mortgage early. Your adviser will explain this in detail. However, if you take out a home reversion plan, the reversion company will own all or part of your property (although you can continue to live there for the rest of your life). You should be aware that when you take out the plan you will normally receive less than the current market value of your home this is because the reversion company cannot sell it until you die or move into long-term care and so need to protect themselves against any potential loss in value. How much does it cost? Most equity release plans include additional set-up, property valuation and legal fees. The specialist adviser, after reviewing your circumstances and requirements, will recommend the most suitable plan for you. Will equity release affect my state benefits? The Saga Equity Release Advice Service includes a full review of your entitlement and you may find you are eligible for additional state benefits you were not aware of. Will I be able to leave an inheritance to my children? The adviser will assess the likely effect on the value of your estate. However, it will not affect any other money that you may leave as part of your inheritance for example, from savings or life assurance policies. What s more, when the time comes, if your home sells for more than you owe, the remaining equity could form part of your estate. The solution to releasing equity from the value of your home may involve a lifetime mortgage or a home reversion plan. To understand the features and risks, ask for a personalised illustration. If the Saga Equity Release Plan (see page 8) is recommended, there are no valuation or set-up fees and 425 is paid to your solicitor on completion and should cover the cost of most applications. You will be responsible for paying any additional fees over and above this amount. If equity release is suitable, but this plan is not, the adviser will recommend a plan from another provider, who may apply these fees. Whichever plan is recommended, this no-obligation expert advice is provided at no additional cost to you. 10

11 Saga Equity Release Advice Service What our customers say... From start to finish the whole process felt comfortable. The most important component was the initial home visit and the co-ordination with the legal service was smooth - all in all a very professional experience. Taking equity release has given us peace of mind financially. Mr K, Merseyside Taking equity release enabled me to help my daughter with a financial contribution as well as giving me a better lifestyle. I felt the service provided was first class from start to end. Mr H, Wales We used equity release for peace of mind and to settle our debts. Our pensions now cover all outgoings. Mrs J, Inverness-shire We are both delighted with the service received from your adviser and office staff, and impressed by the efficiency with which our case was dealt. Equity release has helped us have financial security. Mr W, Norfolk Our adviser explained everything to us very thoroughly and has kept us fully updated during the procedures. Mr & Mrs O, Somerset 11

12 The next step to take To find out more about equity release and the Saga Equity Release Advice Service visit saga.co.uk/equity-guide4 or If you think equity release may be of interest to you, call the Saga Equity Release Advice Service on to be put in touch with a specialist equity release adviser. Lines are open 9am-5pm Monday to Friday The Saga Equity Release Advice Service is provided by Just Retirement Solutions Limited. The Saga Equity Release Plan is provided by Just Retirement Limited. Saga Personal Finance is a registered trading name of Acromas Financial Services Limited, which is registered in England and Wales (Company No ). Registered office: Enbrook Park, Sandgate, Folkestone, Kent CT20 3SE. Acromas Financial Services Limited and Just Retirement Solutions Limited are authorised and regulated by the Financial Conduct Authority. Just Retirement Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. CSB-AF0322 ER/BR/MSSEO/A5/514

Your Guide to Equity Release

Your Guide to Equity Release Equity release has provided me with financial stability. I now have the opportunity to help my family, go on holiday, and make some home improvements. Mr W, East Sussex Your Guide to Equity Release Contents

More information

Your Guide to Equity Release

Your Guide to Equity Release Equity release has enabled me to go on more holidays, purchase a new car and make some major household purchases. The service provided met our financial needs in an efficient and helpful way. John, Sutton

More information

Equity Release your essential guide

Equity Release your essential guide Equity Release your essential guide Welcome This guide has been put together to explain equity release, what it means and the options it can offer. We aim to give you as broad an overview as possible and

More information

Making the most of your retirement

Making the most of your retirement Making the most of your retirement A guide to equity release and our advice service Provided by Contents Welcome from the Age UK Group 3 Do more with your retirement 4 What is equity release? 5 Is equity

More information

Your retirement could have even more going for it

Your retirement could have even more going for it Your retirement could have even more going for it A straightforward guide to equity release For no obligation advice: call 0800 015 0993 www.justretirementsolutions.com Contents Imagine what you could

More information

A Guide to Equity Release in Retirement

A Guide to Equity Release in Retirement A Guide to Equity Release in Retirement 1. Introduction For the retirement you deserve 2. What is Equity Release? 3. Equity Release Plans The options available to you 4. The Application Process 5. Questions

More information

A simple guide to getting more from your future with. Aviva Equity Release. Best Equity Release Lender

A simple guide to getting more from your future with. Aviva Equity Release. Best Equity Release Lender A simple guide to getting more from your future with Aviva Equity Release Best Equity Release Lender J4602_PF011120_1015.indd 1 09/10/15 8:06 pm Contents An introduction to Aviva Equity Release What is

More information

EQUITY RELEASE GUIDE. Everything you need to know about equity release.

EQUITY RELEASE GUIDE. Everything you need to know about equity release. EQUITY RELEASE GUIDE Everything you need to know about equity release. An informative guide from the equity release specialists The informative guide to equity release... Equity release has come a long

More information

A guide to equity release

A guide to equity release Enjoying financial freedom in retirement: Enjoying financial freedom in retirement: A guide to equity release A guide to equity release Many people see equity release as a way to ensure a comfortable retirement.

More information

LEGAL & GENERAL HOME FINANCE. Guide to Lifetime Mortgages

LEGAL & GENERAL HOME FINANCE. Guide to Lifetime Mortgages LEGAL & GENERAL HOME FINANCE Guide to Lifetime Mortgages A lifetime mortgage could give you the freedom to really enjoy your retirement. We re delighted you re finding out more about lifetime mortgages.

More information

Roll-up Lifetime Mortgage Lump Sum Plus Lifetime Mortgage

Roll-up Lifetime Mortgage Lump Sum Plus Lifetime Mortgage Lifetime Mortgages Roll-up Lifetime Mortgage Lump Sum Plus Lifetime Mortgage Using the value in your home for a better retirement Just Retirement s Lifetime Mortgages Who are we? Just Retirement Limited

More information

CAVENDISH EQUITY RELEASE. The Essential Guide. Equity Release TRUSTED & IMPARTIAL ADVICE SINCE 1985

CAVENDISH EQUITY RELEASE. The Essential Guide. Equity Release TRUSTED & IMPARTIAL ADVICE SINCE 1985 CAVENDISH Equity Release TRUSTED & IMPARTIAL ADVICE SINCE 1985 EQUITY RELEASE The Essential Guide INDEX Welcome to Cavendish Equity Release 3 How can Equity Release be used? 4 Why is specialist advice

More information

A Guide to Releasing Capital from your Home

A Guide to Releasing Capital from your Home Advice for older people A Guide to Releasing Capital from your Home Advice provided by Advice for older people FirstStop Advice brings together the expertise of some of the most trusted and respected organisations

More information

Equity Release Guide. Helping you make the right decision. nationwide service all lenders available personal visits. www.therightequityrelease.co.

Equity Release Guide. Helping you make the right decision. nationwide service all lenders available personal visits. www.therightequityrelease.co. Equity Release Guide 0800 612 5749 www.therightequityrelease.co.uk Helping you make the right decision nationwide service all lenders available personal visits 1 Welcome to The Right Equity Release Who

More information

Your essential guide to equity release. from the UK s No. 1 specialist

Your essential guide to equity release. from the UK s No. 1 specialist Your essential guide to equity release from the UK s No. 1 specialist What is equity release? 03 03 04 05 06 07 08 09 10 15 Contents What is equity release? How could equity release help you? Why choose

More information

Everything you need to know about equity release.

Everything you need to know about equity release. Everything you need to know about equity release. An informative guide from the equity release specialists Welcome to the Retiredom guide to equity release. Equity release has come a long way since regulation

More information

LEGAL & GENERAL HOME FINANCE. Guide to Lifetime Mortgages

LEGAL & GENERAL HOME FINANCE. Guide to Lifetime Mortgages LEGAL & GENERAL HOME FINANCE Guide to Lifetime Mortgages A lifetime mortgage could give you the freedom to really enjoy your retirement. We re delighted you re finding out more about lifetime mortgages.

More information

Guide to Equity Release

Guide to Equity Release Guide to Equity Release Find out how you could unlock cash from your home in association with One of the Yours guides designed to The Guide to Equity Release in association with 1 help you make the most

More information

Use your home to your advantage. A guide to equity release

Use your home to your advantage. A guide to equity release Use your home to your advantage A guide to equity release 2 A guide to equity release Introducing Retirement Advantage Previously known as MGM Advantage and Stonehaven, we are a wellestablished company

More information

THE RESPONSIBLE EQUITY RELEASE GUIDE. Everything you need to know about equity release.

THE RESPONSIBLE EQUITY RELEASE GUIDE. Everything you need to know about equity release. THE RESPONSIBLE EQUITY RELEASE GUIDE Everything you need to know about. An informative guide from the specialists Welcome to the Responsible guide to. Equity release has come a long way since regulation

More information

Your essential guide to equity release. from the UK s No. 1 specialist

Your essential guide to equity release. from the UK s No. 1 specialist Your essential guide to equity release from the UK s No. 1 specialist 03 03 04 05 06 07 08 09 10 15 Contents What is equity release? How could equity release help you? Why choose Key Retirement? Mr & Mrs

More information

largeequityrelease.com EQUITY RELEASE GUIDE Speak to one of our specialists today on 020 3824 0904

largeequityrelease.com EQUITY RELEASE GUIDE Speak to one of our specialists today on 020 3824 0904 largeequityrelease.com EQUITY RELEASE GUIDE Speak to one of our specialists today on 020 3824 0904 CONTENTS What is equity release?... 3 How much money could I raise through an equity release?... 4 What

More information

Our Enhanced Lifetime Mortgages Explained

Our Enhanced Lifetime Mortgages Explained Our Enhanced Lifetime Mortgages Explained Contents Make the very best of life..........................................2 About more 2 life and the enhanced lifetime mortgage plans............3 - The plan

More information

Equity Release. A guide to our Lifetime Mortgage products

Equity Release. A guide to our Lifetime Mortgage products Equity Release A guide to our Lifetime Mortgage products Introducing Retirement Advantage Previously known as MGM Advantage and Stonehaven, we are a well-established company that can trace its roots back

More information

Welcome to. OneFamily

Welcome to. OneFamily OneFamily Lifetime Mortgages 1 Welcome to OneFamily Welcome to our OneFamily Lifetime Mortgages. This brochure acts as an easyto-digest introduction to lifetime mortgages and provides you with a summary

More information

WHAT IS EQUITY RELEASE? WHY CONSIDER EQUITY RELEASE?

WHAT IS EQUITY RELEASE? WHY CONSIDER EQUITY RELEASE? WHAT IS EQUITY RELEASE? Equity Release can free some of the capital tied up in your home, while you continue to live there. This money can be in the form of a tax-free lump sum, a regular income or a combination

More information

Is equity release the right choice for you? Protecting yourself If it isn t right for you, what are the alternatives?

Is equity release the right choice for you? Protecting yourself If it isn t right for you, what are the alternatives? Buyer s Guide : Content Page 1: What is equity release? Page 2: Is equity release the right choice for you? Page 3: Protecting yourself If it isn t right for you, what are the alternatives? Page 4: Lifetime

More information

Guide to Equity Release

Guide to Equity Release Guide to Equity Release in association with One of the Yours guides designed to The Guide to Equity Release in association with 1 help you make the most of your life Contents Why equity release? 4 Getting

More information

Retirement. Providing solutions for your future

Retirement. Providing solutions for your future Retirement Providing solutions for your future ,,,, We firmly believe that retirement is a time to enjoy the rewards of your lifes hard work and having access to the funds to turn your ideas and dreams

More information

Our Home Reversion Plan. Enjoy your retirement by unlocking the value of your home

Our Home Reversion Plan. Enjoy your retirement by unlocking the value of your home Our Home Reversion Plan Enjoy your retirement by unlocking the value of your home I can now have the garden I ve always wanted. 1 Bridgewater Equity Release Limited the Home Reversion Plan experts Bridgewater

More information

Guide to Equity Release

Guide to Equity Release Guide to Equity Release By Mel Wright Telegraph money Command= The right of Mel Wright to be identified as the author of this work has been asserted by her in accordance with the Copyright, Designs and

More information

Equity Release Guide. www.seniorissues.co.uk

Equity Release Guide. www.seniorissues.co.uk Equity Release Guide www.seniorissues.co.uk For more information or to speak to one of our trained advisers please telephone our Senior Issues Team on 0845 855 4411 The Caesar & Howie Group 7/3/2008 EQUITY

More information

For a free consultation call freephone. or visit www.responsible.org.uk

For a free consultation call freephone. or visit www.responsible.org.uk Responsible Guide To Equity Release How to release equity (and release it intelligently) Around 2m people over the age of 50 will rely on their property, not a pension, to pay for their retirement - Beck

More information

The Saga Guide to Paying for Care

The Saga Guide to Paying for Care The Saga Guide to Paying for Care Welcome An active and secure retirement is something we like to think we re all entitled to and we find it hard to imagine a time beyond that, when we may need care from

More information

Release your equity tied up in your home Equity Release

Release your equity tied up in your home Equity Release Golden Age Equity brochure 14/8/07 14:58 Page 1 Because it,s your life Totally independent professional advice: Release your equity tied up in your home Equity Release Retirement planning Financial planning

More information

Buying a pension annuity

Buying a pension annuity Buying a pension annuity Why do I need to think about buying a pension annuity? When you come to retire, you will have some important decisions to make. Probably most important of all is how you will generate

More information

Introducing equity release

Introducing equity release Introducing equity release Equity release refers to a range of products that let your clients access the cash tied up in their homes. The equity release market has seen low interest rates, a rise in property

More information

ALL YOU NEED TO KNOW.

ALL YOU NEED TO KNOW. LIFETIME MORTGAGE LIFETIME MORTGAGES ALL YOU NEED TO KNOW 1 ALL YOU NEED TO KNOW. 2 LIFETIME MORTGAGES ALL YOU NEED TO KNOW CONTENTS 1. IntrODUCTION 2. AbOUT lifetime mortgages 3. FeaturES of our lifetime

More information

Equity Release An easy to understand guide just for you

Equity Release An easy to understand guide just for you TRuE BEARing ChARTEREd e Right direction for Financial Advice Equity Release An easy to understand guide just for you True Bearing Chartered 2 Buckshaw Court, East Terrace Business Park Euxton Lane, Euxton,

More information

Lump Sum Lifetime Mortgage Product Summary

Lump Sum Lifetime Mortgage Product Summary Lump Sum Lifetime Mortgage Product Summary This document is intended to provide you with an introduction to our Lump Sum Lifetime Mortgage. Aims The lump sum lifetime mortgage provides you with a cash

More information

IT S MORTGAGE REVERSE A SIGN OF THE TIMES

IT S MORTGAGE REVERSE A SIGN OF THE TIMES IT S A SIGN OF THE TIMES REVERSE MORTGAGE UNLOCK THE EQUITY IN YOUR HOME If you want the financial freedom to spend your retirement how you choose, with independence and dignity, you should talk to us.

More information

Chadwick s. Equity Release

Chadwick s. Equity Release c Independent Chadwick s Financial Advisers Equity Release Contents Chadwick s IFA Page 4 Equity Release Page 5 Lifetime Mortgages Page 6 Home Reversion Schemes Page 7 Considerations Pages 8&9 Safe Guards

More information

Customer Guide. to lifetime mortgages. more 2 choose a range of lifetime mortgage plans to suit every need

Customer Guide. to lifetime mortgages. more 2 choose a range of lifetime mortgage plans to suit every need Customer Guide to lifetime mortgages more 2 choose a range of lifetime mortgage plans to suit every need From one of the UK s largest retirement lending specialists Please speak to your adviser for further

More information

IT S MORTGAGE REVERSE A SIGN OF THE TIMES

IT S MORTGAGE REVERSE A SIGN OF THE TIMES IT S A SIGN OF THE TIMES REVERSE MORTGAGE UNLOCK THE EQUITY IN YOUR HOME If you want the financial freedom to spend your retirement how you choose, with independence and dignity, you should talk to us.

More information

Equity release is one of the easiest ways to access capital without having to move out of your home.

Equity release is one of the easiest ways to access capital without having to move out of your home. 1 Equity Release Equity release is a way of taking cash from your home without having to move out of your property or sell it. If you are a homeowner and aged 55 or over, you could release a tax-free lump

More information

IT S LIFETIME LOAN A SIGN OF THE TIMES AUSTRALIAN SENIORS FINANCE. The Home Equity Release Specialist

IT S LIFETIME LOAN A SIGN OF THE TIMES AUSTRALIAN SENIORS FINANCE. The Home Equity Release Specialist IT S A SIGN OF THE TIMES LIFETIME LOAN AUSTRALIAN SENIORS FINANCE The Home Equity Release Specialist UNLOCK THE IN YOUR EQUITY HOME If you want the financial freedom to spend your retirement how you choose,

More information

Equity Release Guide

Equity Release Guide A Refreshing Approach to Equity Release Equity Release Guide Are you thinking of Equity Release? Choose The Right Equity Release Nationwide Service All Lenders Available Personal Visits What is Equity

More information

In association with Key Retirement THE COMPLETE GUIDE TO. equity release

In association with Key Retirement THE COMPLETE GUIDE TO. equity release In association with Key Retirement THE COMPLETE GUIDE TO equity release CONTENTS 1 EQUITY RELEASE AN INTRODUCTION 2 RON AND WENDY S STORY 3 WHAT TO CONSIDER 4 YOUR FAMILY 5 GETTING TO KNOW THE PLANS 6

More information

Retirement Mortgage Product summary

Retirement Mortgage Product summary Retirement Mortgage Product summary The Retirement Mortgage from Hodge Lifetime provides you with a flexible way to borrow money in retirement. A legal charge is secured on your home. AIMS The Retirement

More information

A guide to releasing tax-free cash from your home. Age. Partnership. R e t i r e m e n t S p e c i a l i s t s

A guide to releasing tax-free cash from your home. Age. Partnership. R e t i r e m e n t S p e c i a l i s t s A guide to releasing tax-free cash from your home With equity release you can release tax-free money from your home with no monthly repayments to make. Thank you for your enquiry Thank you very much for

More information

Commissioned by. Written by. Supported by

Commissioned by. Written by. Supported by Use of Housing Equity for Beginners A self training module Commissioned by Written by Supported by About this training module This self training module is for people who want to understand the basic ideas

More information

With new options available from April 2015, we can help you plan your finances for a worry-free retirement

With new options available from April 2015, we can help you plan your finances for a worry-free retirement Your retirement With new options available from April 2015, we can help you plan your finances for a worry-free retirement Life is full of financial decisions and planning your retirement is one of the

More information

The Saga Guide to Paying for Care

The Saga Guide to Paying for Care The Saga Guide to Paying for Care Welcome An active and secure retirement is something we like to think we re all entitled to and we find it hard to imagine a time beyond that, when we may need care from

More information

Helping your loved ones. Simple steps to providing for your family and friends

Helping your loved ones. Simple steps to providing for your family and friends Helping your loved ones Simple steps to providing for your family and friends Contents 01 How can I take control of who gets what? 02 Inheritance Tax 04 Do you know how much you re worth? 06 Making lifetime

More information

Equity Release. A Guide to Equity Release

Equity Release. A Guide to Equity Release Equity Release A Guide to Equity Release Why NHFA Equity Release Service? At NHFA we will always give you an honest assessment of the financial products available, talk you through all the small print

More information

Equity release using your home to get a cash sum

Equity release using your home to get a cash sum Equity release using your home to get a cash sum for independent information About us We are an independent watchdog set up by the Government to: regulate firms that provide financial services; and help

More information

Government mortgage rescue scheme What will it mean for me and my family?

Government mortgage rescue scheme What will it mean for me and my family? Government mortgage rescue scheme What will it mean for me and my family? What is mortgage rescue? Mortgage rescue is help that the Government is offering if: you are struggling to keep up with your mortgage

More information

Talk to us first... Equity Release. Mortgages & Finance. Investments, Pensions & Personal Protection

Talk to us first... Equity Release. Mortgages & Finance. Investments, Pensions & Personal Protection Talk to us first... Mortgages & Finance Equity Release Investments, Pensions & Personal Protection Why talk to? As Independent Financial Advisers we will work closely with you to help plan your finances

More information

Reverse Mortgages Policy

Reverse Mortgages Policy Reverse Mortgages Policy March 2014 Version Date 2 November 2012 3 March 2014 Document owner Professional Standards Professional Standards Approved by RI Compliance Committee Date of approval 22/11/2012

More information

Council of Mortgage Lenders Equity release leaflet unlocking the value of your home

Council of Mortgage Lenders Equity release leaflet unlocking the value of your home Council of Mortgage Lenders Equity release leaflet unlocking the value of your home What is equity release? Equity is the difference between any mortgage you may have and the value of your home. Equity

More information

Your Guide to Equity Release / Lifetime Mortgages

Your Guide to Equity Release / Lifetime Mortgages Palmer & Webb Associates Your Guide to Equity Release / Lifetime Mortgages FREE Initial Consultation Palmer & Webb Associates is a trading style of Blueprint Southwest Ltd who are an appointed representative

More information

Reverse Mortgage. That s what we re here for. Financial freedom to do the things you ve always wanted. Here for good.

Reverse Mortgage. That s what we re here for. Financial freedom to do the things you ve always wanted. Here for good. Reverse Mortgage Financial freedom to do the things you ve always wanted That s what we re here for. Here for good. Contents 2 The freedom of a Reverse Mortgage 3 Product overview 4 About Reverse Mortgages

More information

FREEDOM. Retirement. With the luxury of time, you ll be. Atlantic Coast Associates

FREEDOM. Retirement. With the luxury of time, you ll be. Atlantic Coast Associates Retirement FREEDOM Equity Release to assist Retirement Planning Spring 2016 ATLANTIC COAST ASSOCIATES Independent Financial Advisers Atlantic Coast Associates 5 Tywarnhayle Square Perranporth Cornwall

More information

CompareEquityRelease.com. Your Guide To Equity Release

CompareEquityRelease.com. Your Guide To Equity Release CompareEquityRelease.com Your Guide To Equity Release C ontents About this guide 3 Let s talk money 4 The options 5 What is equity release? 13 How does equity release work? 14 Which type of scheme is best?

More information

EQUITY LOAN HOME STAY WHERE YOU BELONG. Seniors Finance

EQUITY LOAN HOME STAY WHERE YOU BELONG. Seniors Finance STAY WHERE YOU BELONG. HOME EQUITY LOAN Seniors Finance Welcome If you want the financial freedom to spend your retirement how you choose with independence and peace of mind knowing that unexpected costs

More information

C o n v e r t i n g Y o u r H o m e s E q u i t y i n t o C a s h

C o n v e r t i n g Y o u r H o m e s E q u i t y i n t o C a s h R E V E R S E M O R T G A G E S E R V I C E S C o n v e r t i n g Y o u r H o m e s E q u i t y i n t o C a s h 2010 Wilmington Savings Fund Society, FSB Member FDIC All Rights Reserved 015 6-10 From your

More information

Your. By harvey jones. In association with

Your. By harvey jones. In association with Your Equity Release Guide By harvey jones In association with CONTENTS Introduction... 5 What is equity release?... 8 How does equity release work?... 12 i. Lifetime mortgage plans... 12 ii. Drawdown lifetime

More information

Equity release. A guide for those considering unlocking the value in their home

Equity release. A guide for those considering unlocking the value in their home Equity release A guide for those considering unlocking the value in their home Purpose Equity release is a big decision that will affect the rest of your life. It will mean giving up full control over

More information

Changing the shape of British retirement. www.homewise.co.uk

Changing the shape of British retirement. www.homewise.co.uk Changing the shape of British retirement Free Phone 0800 043 33 66 About us Welcome to Homewise Like many people, you may have spent years looking forward to a dream retirement lifestyle, perhaps wanting

More information

Shared Home Investment Plan Limited. because life is worth living

Shared Home Investment Plan Limited. because life is worth living Shared Home Investment Plan Limited because life is worth living About S.H.I.P.? Shared Home Investment Plan Limited (S.H.I.P.) is an Irish company specialising in home equity release plans for the over

More information

SPANISH LIFETIME MORTGAGE

SPANISH LIFETIME MORTGAGE SPANISH LIFETIME MORTGAGE The following presentation relates to a Lifetime Mortgage which is available to European owners of Spanish Residential properties who are fluent in English. Golden Age Distribution

More information

MORE CHOICE MORTGAGE CENTRE MORTGAGE GUIDE

MORE CHOICE MORTGAGE CENTRE MORTGAGE GUIDE MORE CHOICE MORTGAGE CENTRE MORTGAGE GUIDE All you need to know about buying and protecting your home THE FSA More Choice Financial Ltd, The Rufus Centre, Steppingley Road, Flitwick Beds MK45 1AH is authorised

More information

A GUIDE TO. reverse mortgages. Live the retirement you dreamed

A GUIDE TO. reverse mortgages. Live the retirement you dreamed A GUIDE TO reverse mortgages Live the retirement you dreamed Guide Content 14What Is A Reverse Mortgage? 24How Do I Qualify? 34 What Can A Reverse Mortgage Be Used For? 44How Much Money Could I Qualify

More information

EQUITY LOAN HOME HOWDO WE STAY IN OUR FAMILY HOME?

EQUITY LOAN HOME HOWDO WE STAY IN OUR FAMILY HOME? HOWDO WE STAY IN OUR FAMILY HOME? HOME EQUITY LOAN Welcome If you want the financial freedom to spend your retirement how you choose, with independence and dignity, you should talk to us. A Heartland Home

More information

Your retirement income. Exploring your options

Your retirement income. Exploring your options Your retirement income Exploring your options Contents 02 What do you want to do with your pension fund? 07 A regular retirement income for the rest of your life 10 A flexible income from a Self Invested

More information

Proposed Information Statement Reverse Mortgage. Things you should know about your reverse mortgage

Proposed Information Statement Reverse Mortgage. Things you should know about your reverse mortgage Page 1 of 7 Proposed Information Statement Reverse Mortgage Things you should know about your reverse mortgage This statement is provided to you because reverse mortgages operate differently to other credit

More information

Certificate in Regulated Equity Release

Certificate in Regulated Equity Release Unit 1: Fundamentals of Equity Release Certificate in Regulated Equity Release Attainment Level knowledge of: K1 Definition of a Home Reversion (HR) plan & alternative methods of equity release/capital

More information

Are you or your parents thinking about taking out an Equity Release product?

Are you or your parents thinking about taking out an Equity Release product? Equity Release Are you or your parents thinking about taking out an Equity Release product? Why take out an equity release plan? So what is an Equity Release plan? Who can take out an Equity Release Scheme?

More information

People moving into a care home who have a property Information sheet D4 April 2016

People moving into a care home who have a property Information sheet D4 April 2016 People moving into a care home who have a property Information sheet D4 April 2016 This information sheet explains your rights as a homeowner if you are moving into a care home with financial support from

More information

ACHIEVE YOUR FINANCIAL GOALS WITH THE HELP OF A COMMONWEALTH FINANCIAL PLANNER.

ACHIEVE YOUR FINANCIAL GOALS WITH THE HELP OF A COMMONWEALTH FINANCIAL PLANNER. ACHIEVE YOUR FINANCIAL GOALS WITH THE HELP OF A COMMONWEALTH FINANCIAL PLANNER. Andrew has been our financial planner for 16 17 years. During this time Andrew s advice has always been very professional

More information

In association with Key Retirement Solutions THE COMPLETE GUIDE TO. equity release

In association with Key Retirement Solutions THE COMPLETE GUIDE TO. equity release In association with Key Retirement Solutions THE COMPLETE GUIDE TO equity release CONTENTS 1 EQUITY RELEASE AN INTRODUCTION 2 JACK AND MARIE S STORY 3 WHAT TO CONSIDER 4 YOUR FAMILY 5 GETTING TO KNOW THE

More information

The Mortgage Guide. Helping you find the right mortgage for you. Brought to you by. V0050713a

The Mortgage Guide. Helping you find the right mortgage for you. Brought to you by. V0050713a The Mortgage Guide Helping you find the right mortgage for you Brought to you by Hello. Contents We re the Which? Mortgage Advisers team. Buying a house is the biggest financial commitment most of us ever

More information

Mortgage Advisers. The Mortgage Guide Helping you find the right mortgage for you

Mortgage Advisers. The Mortgage Guide Helping you find the right mortgage for you Mortgage Advisers The Mortgage Guide Helping you find the right mortgage for you Hello. We re the Which? Mortgage Advisers team. Buying a house is the biggest financial commitment most of us ever make.

More information

Reverse Mortgage. Fast Facts Information to help you understand how a reverse mortgage may help you improve your quality of life.

Reverse Mortgage. Fast Facts Information to help you understand how a reverse mortgage may help you improve your quality of life. Reverse Mortgage Fast Facts Information to help you understand how a reverse mortgage may help you improve your quality of life. how can a reverse mortgage Help me? improve your quality of life with A

More information

EQUITY HOME. HowDO. we stay in. our family. home?

EQUITY HOME. HowDO. we stay in. our family. home? HowDO we stay in our family home? HOME EQUITY loan Welcome If you want the financial freedom to spend your retirement how you choose, with independence and dignity, you should talk to us. A Heartland Home

More information

Your Home s Equity Can Give Retirement Life a Boost. 2013 Wilmington Savings Fund Society, FSB Member FDIC All Rights Reserved 015 1-13

Your Home s Equity Can Give Retirement Life a Boost. 2013 Wilmington Savings Fund Society, FSB Member FDIC All Rights Reserved 015 1-13 R E V E R S E M O R T G A G E S O L U T I O N S Your Home s Equity Can Give Retirement Life a Boost 2013 Wilmington Savings Fund Society, FSB Member FDIC All Rights Reserved 015 1-13 From your first savings

More information

Your mini guide to financial planning in later life

Your mini guide to financial planning in later life Your mini guide to financial planning in later life Introduction To really enjoy later life, a little financial planning and wise money management will help enormously. It will mean that you can put money

More information

REVERSE MORTGAGE GUIDE

REVERSE MORTGAGE GUIDE REVERSE MORTGAGE GUIDE Retire comfortably with a Reverse Mortgage CRAIG MINTON - AMERICAN NATIONWIDE MORTGAGE - 757-254-1331 Introduction Hello my name is Craig Minton, Regional Manager and Reverse Mortgage

More information

Contents. Meeting the Costs of Live at Home Care & Nursing Funding Options Handbook. Funding Options 2. Private Funding 3

Contents. Meeting the Costs of Live at Home Care & Nursing Funding Options Handbook. Funding Options 2. Private Funding 3 Meeting the Costs of Live at Home Care & Nursing Funding Options Handbook Contents Funding Options 2 Private Funding 3 Equity Release Schemes Home Reversion Plans 3 Full Reversion Plans 4 Partial Reversion

More information

Flexible Lifetime Mortgage Product Summary

Flexible Lifetime Mortgage Product Summary Flexible Lifetime Mortgage Product Summary The Flexible Lifetime Mortgage provides you with an initial cash sum in the form of a mortgage loan. A legal charge is secured on your home. For as long as you

More information

Additional borrowing guide 1. Additional borrowing. We re with you every step of the way

Additional borrowing guide 1. Additional borrowing. We re with you every step of the way Additional borrowing guide 1 Additional borrowing We re with you every step of the way Additional borrowing guide 2 What is additional borrowing? Sometimes you may be able to borrow extra money from your

More information

Frequently Asked Questions

Frequently Asked Questions Frequently Asked Questions 1. What is a reverse mortgage? 2. How does a reverse mortgage differ from a home equity loan? 3. What are the advantages of a reverse mortgage? 4. How much money can I get? 5.

More information

Briefing Paper on Equity Release

Briefing Paper on Equity Release COUNCIL of MORTGAGE LENDERS Briefing Paper on Equity Release What is equity release? 1. Equity is the difference between any mortgage you may have and the value of your home. Equity release is a way of

More information

Information on the Council s Deferred Payments Scheme

Information on the Council s Deferred Payments Scheme Information on the Council s Deferred Payments Scheme What is the Deferred Payments Scheme? The Deferred Payments Scheme is designed to help you if you have been assessed as having to pay the full cost

More information

Helping your clients through retirement think house, think equity release

Helping your clients through retirement think house, think equity release For For financial intermediary use use only. only Not approved for use with customers. Helping your clients through retirement think house, think equity release Not qualified? Referrals - The Right Way

More information

Are you a homeowner, aged 55+, and looking for additional funds? Then we may be able to help... pension may also not be the answer.

Are you a homeowner, aged 55+, and looking for additional funds? Then we may be able to help... pension may also not be the answer. Retirement FREEDOM Equity Release to assist Retirement Planning Autumn/Winter 2014 ATLANTIC COAST ASSOCIATES Independent Financial Advisers No place like HOME Equity Release latest 375.5m lent in 3rd quarter

More information

Your Move a Walk in the Park

Your Move a Walk in the Park M ake Your Move a Walk in the Park We are delighted that you are considering buying an MHA property and want you to enjoy the benefits of our retirement living as soon as possible. Share the cost Buy from

More information

Deferred Payment Scheme: Frequently Asked Questions

Deferred Payment Scheme: Frequently Asked Questions Deferred Payment Scheme: Frequently Asked Questions What is a deferred payment scheme? The Deferred Payments Scheme is designed to help you if you have been assessed as having to pay the full cost of your

More information

Enhance Your Financial Security. With a Home Equity Conversion Mortgage

Enhance Your Financial Security. With a Home Equity Conversion Mortgage Enhance Your Financial Security With a Home Equity Conversion Mortgage 1 Call for Additional Information 925-258-0386 1 Unlock Your Home s Equity We understand that you want to transition easily into the

More information

Live the life you ve earned

Live the life you ve earned Keep in touch. Drop in to any ASB branch Call 0800 803 806 Visit asb.co.nz/homeplus Visit us at facebook.com/asbbank Follow us on twitter.com/asbbank Live the life you ve earned Your guide to HomePlus

More information