There are two main types of equity release: lifetime mortagages and home reversion schemes.
In later life you may find you need additional income. A way of solving this could be by releasing some equity from your home, providing you with the income you need, while allowing you to continue living in your house.
There are many things to think about before releasing the equity from your home. At Birkett Long IFA, our specialist independent financial planning managers will explore all the options with you and help you make a decision.
Our independent financial planning managers will look at your overall finances to see if equity release is really the best solution for you and if so, help find the right type of scheme.
Equity release means you can:
- release cash, whether to buy a new car, to pay for a holiday or home improvements, or simply to make daily life more comfortable.
- allow you to borrow money against the value of your home, with the debt being repaid from the sale proceeds from your home after your death.
- In some circumstances we can also assist with inheritance tax planning.
Equity release plans are complicated arrangements which are often linked to later life planning. It is a major step for many people and both Age Concern and the Financial Conduct Authority recommend that independent financial advice is obtained before proceeding.
If you would like more information on equity release, please contact Nicola Ward on 01206 217309 or firstname.lastname@example.org
- Nicola Ward
- Associate and Head of Birkett Long IFA LLP
Birkett Long IFA’s team of independent financial planning managers are qualified to provide advice on equity release and later life planning, and have considerable expertise in this complex and sensitive area.
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I am always very impressed and comfortable with the service I receive. I will continue to recommend your firm as and when the opportunity arises. I send my grateful thanks again to both you and of course Colin. I really would be lost in the financial world without your continuing and friendly assistance. I wanted to say thank you for your can do attitude and the way you manage to make even the most monumental tasks (for me) seem to be achievable, and even are achieved, with a minimum of stress and fuss.
Thank you so much for your financial advice and for arranging equity release from our property on our behalf. It was a pleasure to both meet and deal with you and we very much appreciated not only the excellent advice and service given to us but also the pleasant yet efficient manner with which you carried this out. We shall have no hesitation in contacting you when we need further financial advice and are confident that you will be able to help us.