Equity Release

For many retired people their home is their major asset. Equity Release can allow you benefit from the value of your home without having to move out of it.

In all instances, age is the primary factor in determining the percentage of the value of your home that can be released. An older person can release a higher percentage of the value of their home, than a person of a younger age. You will normally have to be over 60 to apply but there is no upper age limit.

There are a number of important issues to think about when considering Equity Release such as negative equity guarantees, ensuring you keep full ownership of your home and whether your policy allows you to move house if you should so wish. You should consider that lifetime mortgages significantly erode the remaining equity and as a result there may be no value left to pass on, whilst Equity Release can affect eligibility to state benefits and grants and may work out more expensive than alternatives such as downsizing to a smaller property.

At Newstead Clark we will ensure that we find the right policy for your individual circumstances.

You can choose how we are paid for Equity Release advice: pay a fee, usually £995, or we can accept commission from the Lender.

This can be in the form of:

  • Cash sum
  • Income
  • Combination of cash and income

‘Equity release’ includes home reversion plans and lifetime mortgages.
To understand the features and risks, ask for a personalised illustration.