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 Because it,s your life 16 The Round Meade Maghull Liverpool L31 8DZ Tel: 0800 073 1067 Web: www.yourgoldenage.co.uk Email: enquiries@yourgoldenage.co.uk Golden Age Retirement Planning Ltd is an appointed representative of Sage Financial Services Ltd. Registered office: 16 The Round Meade, Maghull, Liverpool L31 8DZ. Registered in England No. 6227453. Individual Home Individual Equity Release Plan Individual You
Golden Age Equity brochure 14/8/07 14:58 Page 3 8 Golden Reasons for Releasing Equity in Your Home: Finding the Golden Retirement Plan for You With so many equity release plans available, sometimes it s difficult to know where to turn for advice on which one is best for you. You want to maintain your standard of living You need a cash lump sum for home improvements You want more money to enjoy your retirement You wish to mitigate the effects of inheritance tax You want to clear outstanding debts You want to book the holiday of your dreams You feel that it s your life and you deserve to enjoy it You want financial peace of mind during your retirement If you feel confused about making the decision whether to release any equity from your home, let us assure you that you are not alone. We are here for you every step of the way. We will make certain that we will advise you about all the options available to you and support you through the whole process of releasing equity from your home. It is straightforward to find out how much cash you could release from your home, and to arrange an equity release plan but it is imperative that the plan we recommend for you is suitable for your current circumstances and future plans. Golden Age specialises in retirement planning and has access to an expansive market, which means we can find a plan that suits your current circumstances, lifestyle and future. All of our providers are members of Safe Home Income Plans (SHIP). You will receive all of the protection associated with the SHIP professional code of conduct. This also means that you have the right to live in your property for life or move to a more suitable property without incurring any financial penalties. Everyone has different needs, and each recommendation we make is unique to each client. Even if some equity release plans appear the same, there are some differences. These may seem minor differences, but they can have a major impact on your life, so take your time to find the most appropriate plan for you.
Golden Age Equity brochure 14/8/07 14:59 Page 5 Lifetime Mortgages Do you qualify? With lifetime mortgages, you retain full ownership of your home. You could receive a tax-free lump sum, monthly income or both, by way of a loan secured on your home. The cash is yours to spend as you wish. There are no repayments required until you die or go into long term care. At which point, the loan and accrued interest is repaid. If there is any equity remaining in the property after this it can be passed to your beneficiaries. If house prices rise, this may actually benefit your beneficiaries as they would be left with any remaining capital. But remember too that if house prices fall there may be nothing left for you to pass on so it is vital to take independent advice if leaving something behind is important to you. You must be at least 55 years old to qualify. If there are two of you, the youngest one of you must meet this age. Your home must generally be worth at least 40,000 and be built from brick or stone. You should usually have paid off your mortgage and fully own your property. Amounts You Could Release (If You Are In Good Health) Age 55 56 57 58 59 60 61 62 63 64 65 66 % 21 22 23 24 25 26 27 28 29 30 31 33 Raising funds via a lifetime mortgage could also affect your entitlement to receipt of State benefits - we will guide you through your options before making a recommendation. Age 67 68 69 70 71 72 73 74 75 76 77 78 Drawdown facilities are now available whereby you could initially release less than the maximum, with the facility to take more in future, as and when you require to. This gives you greater flexibility and means that less interest accumulates than taking the maximum amount at the beginning. All Lifetime Mortgages are fully regulated by the Financial Services Authority (FSA). % Age % 34 35 36 37 38 39 40 41 42 43 44 45 79 80 81 82 83 84 85 86 87 88 89 90 46 47 48 49 50 51 52 53 54 55 56 57 This equity release product may involve a lifetime mortgage or a home reversion plan. If so, to understand the features and risks, ask for a personalised illustration. Source: The Exchange July 2007
Golden Age Equity brochure 14/8/07 14:59 Page 7 Home Reversion plans How much could you release? Home reversion plans involve selling all or part of your home in exchange for a lump sum, income or both. You can sell all or part of your home and retain the right to live in it for the rest of your life. If you sell a certain percentage of your home, you can still leave the remainder for your beneficiaries, regardless of how long you live. For example, if you sell 60% of your home 40% will be left for your beneficiaries. As you retain the right to live in your home for life, you will receive only part of the proportion of your home that you sell. Maximum Release Amounts (If You Are In Good Health & sell 100% of your home) It may be possible to sell all of your home to the reversion company, in return for which, you could generate more money than a lifetime mortgage would give you. Age 65 70 75 80 85 90 Enhanced rates are available for those in poor health. Do you qualify? % Source: The Exchange July 2007 43 51 58 62 67 73 You must be aged at least 65 to take a home reversion plan. Your property should be worth at least 80,000 and in a good state of repair.
Golden Age Equity brochure 14/8/07 14:59 Page 9 Why Choose Golden Age Retirement Planning? We understand that deciding to release equity from your home is an important decision, so we will visit you in your home to listen to your needs and discuss your options face-to-face Your equity release plan is chosen specifically because it matches your needs There is no rush or pressure for you to make instant decisions We don t have call centres, so if you need to call us, you can contact your own personal adviser directly We will only ever give you honest advice about if we believe equity release is the right option for you We specialise in retirement planning, guaranteeing you expert advice You will always be treated as we would expect to be treated.
Golden Age Equity brochure 14/8/07 14:59 Page 11 Quality time with your grandchildren I spoke with Golden Age as I needed funds for a knee replacement, so I didn t have to wait for NHS treatment. Our adviser was superb. He was with us every step of the way and arranged a lifetime mortgage giving me the money I needed for the operation, as well as funds to replace my old central heating boiler. I also released monies to have some savings to cover any future emergencies. It's fantastic to be pain free, mobile and warm! Mrs. B. from Yorkshire Visit the places you ve always wanted to go Financial freedom to enjoy life We just did not realise that this was possible. Now we have our dream holiday home and still have our family home also. This has made such a difference to our lives. Our adviser was with us every step of the way and ensured that all went smoothly according to plan Mr. and Mrs. T from Cumbria Home improvements to create the home you ve always dreamed of Doing the things you love during your retirement It s your life Golden Age Golden Plan Golden Life Golden Retirement I had heard of Equity Release but did not know much about it. My Golden Age representative was excellent in helping me. I raised the money I wanted to repay my mortgage, buy a new car and subsidise my income over the next few years. I was also able to put some away for any future emergencies. Mrs. Williams, North Wales