How does equity release in Nottingham work?
If you are over the age of 55 and are a homeowner, whether you have a mortgage to your name or not, you may be eligible to take out an equity release plan.
Equity release plans give homeowners the chance to release a portion of the value of their home into a tax-free lump sum, or in smaller sums that can be taken out over a duration of time.
Nottinghammoneyman specialise in providing their customers with a complete service. This includes open & honest mortgage advice in Nottingham from qualified and experienced later life mortgage advisors in Nottingham.
This service is backed up by a hard working team of case managers, who will make sure your equity release plan is put in place as quickly as possible. We’ll also make sure you are kept well informed all throughout your process.
Your later life mortgage advisor in Nottingham will take an in-depth look at your current situation, your past experiences and what it is you are hoping to achieve in the future. This allows them to decide whether or not equity release in Nottingham is the right path for you to take.
If no other alternatives are suitable and equity release in Nottingham is right for you, your later life mortgage advisor will be able to look and find the best product to suit you both now and in the future, with mortgage lenders from the whole of the market.
There are two main types of equity release in Nottingham for you to choose from – the lifetime mortgage, which is available to homeowners over the age of 55, as well as the home reversion plan* (which includes you selling all or part of your home).
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*Both types of equity release plans, lifetime mortgages and home reversion plans, are regulated by the Financial Conduct Authority. Nottinghammoneyman does not offer home reversion plans.
Lifetime Mortgages in Nottingham
Whether you are looking to raise some funds so that you can help out out your children or grandchildren, repay a mortgage or other debts that are existing in your name, make any home improvements or boost your retirement income for a desired purpose, our fast & friendly team of experienced mortgage advisors can work to help you achieve your goals.
A lifetime mortgage in Nottingham will give you the chance to release tax-free money from your homes value. You will be able to keep 100% ownership of your home and stay within there for the rest of your life.
Typically speaking, a lifetime mortgage in Nottingham is repaid when your home is sold after your death or when you permanently move into care. If there are two of you, this will apply to the surviving borrower.
In recent times, lifetime mortgages in Nottingham have become much more flexible that can give you the option to make voluntary payments, monthly interest payments and port your mortgage to another home.
For any additional mortgage advice in Nottingham regarding equity release in Nottingham, it is worth getting in touch with a qualified later life mortgage advisor in Nottingham.
Speak with a mortgage broker in Nottingham and we will be able to book you in with one of our dedicated later life mortgage advisors to discuss your options for releasing equity in Nottingham.
To understand the features and risks, ask for a personalised illustration. Our typical advice fee is up to £1,495 only payable on completion.
A lifetime mortgage may impact the value of your estate and it could affect your entitlement to current and future means tested benefits. The loan plus accrued interest will repayable upon death or moving into long term care.