How does equity release in Doncaster work?
If you are a homeowner and are aged 55+, either with a mortgage or without one and a property worth at least £70,000, you may qualify for taking out an equity release plan.
Equity release gives homeowners the option of releasing a portion of the value of their home, into either a tax-free lump sum, or some smaller lump sums that they can choose to have taken out over a particular length of time.
We are a company that specialise in providing their customers with a holistic service of mortgage advice in Doncaster. That service is brought to you by qualified, expert later life mortgage advisors in Doncaster. Along with a dedicated team of case managers, we will look to put your plan in place as quickly as possible and to keep you informed all throughout your process.
Your later life mortgage advisor in Doncaster will take a thorough look at your current circumstances, your past experiences and what it is you are planning for the future. This allows them to identify whether or not equity release in Doncaster is the right step for you to take.
If it is deemed to be the most appropriate route to take, it also allows your later life mortgage advisor to search for the best product to suit you both now and in the future from the whole of the mortgage market.
Customers will find that there are two main types of equity release in Doncaster. There is the lifetime mortgage, which is available from 55+, as well as the home reversion plan* (which involves selling all or part of your home).
Get a Quote01302 288 250
*Both types of equity release plans, lifetime mortgages and home reversion plans, are regulated by the Financial Conduct Authority.
Lifetime Mortgages in Doncaster
Whether you are looking to raise the funds to help out your children or grandchildren, pay off an existing mortgage or any other debts you have, make much needed home improvements or create a boost to your retirement income, our team of open & honest mortgage advisors are here to help you achieve your mortgage goals.
A lifetime mortgage in Doncaster will allow a homeowner to release tax-free money from the value of their home, whilst still retaining 100% ownership and staying within your home for the remainder of your life.
Typically speaking, a lifetime mortgage in Doncaster will be repaid by selling your home after you have died or have gone permanently into care (with two borrowers this applies to the remaining st survivor).
In more recent memory, lifetime mortgages in Doncaster have become much more flexible, including giving customers the options of making voluntary payments, monthly interest payments and allowing you to move your mortgage to another property.
For any further mortgage advice in Doncaster regarding equity release in Doncaster, we would recommend that you seek the advice of a specialist in this area, such as ourselves.
Contact a mortgage broker in Doncaster and we will be able to book you in with one of our later life mortgage advisors in Doncaster, so we can discuss your options for releasing equity from your home in Doncaster.
To understand the features and risks, ask for a personalised illustration. Equity Release may come in the form of a lifetime mortgage or home reversion plan.
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.
A home reversion plan involves selling all or part of your home to a plan provider in exchange for a tax-free lump sum.