Equity Release Guide

Transcription

1 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

2 What is Equity Release? People over 55 often have little or no outstanding mortgage and lots of value tied up in their homes. Many others have interest-only mortgages and no way of repaying the capital. Equity Release can help people in either of these situations. Equity Release could be a way for you to release cash from your home without having to move out The Tax free cash can be released as a lump sum, as an income or as a combination of both Once any mortgage is paid off the cash released is yours to spend as you wish You do not have to make monthly payments, but some providers give you the option Enjoying the cash benefits... I was most impressed with the way you handled the process for me. I had anticipated previously that the whole process would be lengthy, costly and bogged down by tedious paperwork. However, whatever difficulties presents themselves, you handled them efficiently and sensitively. {E Thorpe, Dorchester} All Equity Release Plans are regulated by the Financial Conduct Authority (FCA) Recommended plans offered comply with the Equity Release Council Code of Conduct

3 What can you use Equity Release for? Home improvements Increasing retirement income Holidays/Holiday Homes Buying a new car Helping the family Pay for an operation Gifting to children Inheritance tax planning Health care Long term care in your home Debt consolidation Repay existing mortgage Are you eligible for Equity Release? If you satisfy all of these requirements... You are 55 or over We would recommend... We were very impressed by how swiftly our application was processed and also how you explained in detail the various plans to choose from without pressuring us in any way. We would, without hesitation, recommend you to anyone seeking to raise finance in this way. {Mr & Mrs Lewis, Surrey} You own your own home You have little or no mortgage...then the answer is YES!

4 What types of Equity Release can you choose from? Lifetime Mortgage You take out a loan that is secured on your property You continue to own and live in your own home The lifetime mortgage is repaid from the proceeds of the sale of your property on death or if you have to enter long term care A fixed interest is added to the loan monthly or annually Lifetime Drawdown Mortgage You take smaller sums over a period of time You only incur interest on the money released Home Reversion Plan You sell all or part of your home to a Home Reversion company You will no longer own your home, or the proportion sold, but you can continue to live there for as long as you wish Your home is sold when you die or enter long term care. Any unsold percentage will be passed back to your estate Most helpful... I have recently obtained Equity Release on my house and the adviser was most helpful in arranging everything. He has also made several personal visits and explained all the legal gobbledegook, and answered all my questions in plain understandable English. {Mr A Mclean, Gloucester}

5 How much can you borrow? The maximum amount you can borrow is based on your age and the value of your property Amounts vary between different Lenders Home Reversion Plans can release greater amounts If you smoke, take tablets or have any illness you could borrow more Do you already have an Equity Release? As with standard mortgages you may be able to switch your lifetime mortgage to take advantage of falling interest rates and a better deal. A new plan may offer: Our lives are more comfortable... Nothing was too much trouble for you to sort out and we were amazed at how quick everything went through with guidance, and also without any hitches. Now our dreams of extending our home and buying those extras that make our lives more comfortable in our retirement have come true. {Mr & Mrs Jefferson, Wiltshire} A reduced interest rate Save your estate substantial sums Allow additional borrowing Increased flexibility Contact us - We will help you calculate your borrowing potential.

6 What should you know about Equity Release? Some of the advantages: Disclosed adverse credit will usually not affect borrowing No proof of income necessary You have the flexibility to choose whether or not to make monthly payments An alternative option to standard mortgages and loans Some points to be aware of: Equity Release plans are not suitable for everyone An Equity Release plan will reduce the value of your estate Equity Release could affect any current or future entitlements to means tested state benefits Although secured on your property, the loan is portable and does not prevent you from moving home Delighted with the outcome... The service we received from you company could not be improved on. The amount of time and care we received, from you in particular, is not something we have encountered in any other financial transaction in which we have been involved. We would not hesitate to recommend your company to anyone who wants a complete professional services. {Mr & Mrs Kirby, Peterborough} We can help you to understand the features and risks. Simply ask us for your personalised illustration.

7 Why should you use The Right Equity Release? We specialise in all Equity Release plans We research from the whole of the market We have access to exclusive deals/offers We visit you in your own home We offer advice over the phone We offer a no sale, no fee advice service We offer professional guidance from fully qualified advisers We offer fully independent and regulated advice I cannot thank you enough... You kept me informed every step of the way and made the whole episode stress free. My son is thrilled to be receiving a windfall at this time in his life. I can highly recommend your services. Thank you again. {Jean, Littlehampton} We will check whether you have any benefit entitlements and whether there would be any effect on them An Equity Release Scheme is a complex legal arrangement and expert independent legal advice will always be involved within the agreement process. To understand the features and risks, ask for a personalised illustration. Your home may be repossessed if you do not keep up repayments on your mortgage.

8 What will we do for you? Give you your own personal advisor Visit you in your own home Talk you simply through the process Cover all options available to you Answer all of your questions Give you honest, impartial advice on what is best for you What do you need to do next? Call us Free Today on to see if you qualify We will talk you through your options We will advise you on how much you can borrow We will establish if Equity Release is right for you Quick and efficient service... I would like to thank you and Aviva for your quick and efficient service. From start to finish the whole process has only taken six weeks. The painter is already at work on the outside, you will not recognise the house when you drive by. {Sue Sturgeon} Head Office: 24 The Lea, Kidderminster, Worcestershire, DY11 6JY. The Right Equity Release Ltd which is authorised and regulated by the Financial Conduct Authority. Registered in England The Right Equity Release does not charge any up front fees. A fixed fee is charged on completion of an equity release plan. The Lender or Reversion Company will pay The Right Equity Release a procurement fee (commission) which is retained.