At RM Mortgage Solutions Ltd we can refer you to an equity release specialist who will be able to provide advice and discuss your options.
Equity Release advisers in Birmingham & Solihull can advise you on mortgages that let you use some of the equity in your home to fund a regular income or to take as tax free cash to spend as you wish.
To qualify for an equity release mortgage scheme you must be:
- Aged 55-95 (both partners, if couple)
- Own a home typically worth at least £70,000
- Live within the UK (including Northern Ireland)
Reasons People Choose Equity Release
Releasing equity from your home by way of an Equity Release Mortgage enables you to remain in your home but raise capital for a range of possibilities such as:
- Generate a capital lump sum
- Provide an additional income
- Provide lifetime gifts to relatives
- Home Improvements
- Holidays or purchase of a holiday home
- Fund long term care
Types Of Schemes Available
At present there are a variety of schemes available on the market:
- Lifetime Mortgages
- Drawdown Lifetime Mortgages
- Interest Only Lifetime Mortgages
- Home Reversion Plans
All come with their own advantages and disadvantages. So how do you know which one to choose?
It is a good idea to read up on the different types of equity release plans so you understand how they work, before getting independent advice from specialist advisers in Birmingham & Solihull.
If you are considering releasing money from your property then it is highly advised that you speak to independent equity release brokers in Birmingham & Solihull to discuss your financial options.
Learn more from Equity Release Advisers
With a range of equity release schemes on the market, we recommend that you take advice from specialist equity release brokers in Birmingham & Solihull who can help you decide which one is right for you.
It may be the case that you are eligible for an enhanced lifetime mortgage scheme, which takes into account your health and lifestyle and may see you able to release more cash from your home.
Book an appointment with your specialist Birmingham & Solihull equity release advisers today to find out more.
Equity Release may involve a lifetime mortgage or home reversion plan. To understand the features and risks always ask for a personalised illustration.