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 advisor 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 most suitable 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).
*Both types of equity release plans, lifetime mortgages and home reversion plans, are regulated by the Financial Conduct Authority.
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.
If you opt to take out a lifetime mortgage in Doncaster, any existing mortgages or loans that are currently secured on your property must be repaid.
Any accrued interest must also be paid back, as well as the amount released, upon death or moving into long term care.
Choosing to take on a lifetime mortgage in Doncaster will reduce the amount of equity that you have available in your property to leave as an inheritance or to use for the payment of any fees relating to care, should this become a future necessity.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The fee is up to 1% but a typical fee is £995.
You should always think carefully before securing a loan against your property.
A lifetime mortgage will reduce the value of your estate and may affect your entitlement to means tested benefits.
Clearing existing mortgage with a lifetime mortgage may result in higher cost of borrowing.
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When you schedule a free initial mortgage appointment with our laterlife mortgage advisor in Doncaster, we will engage in a thorough conversation regarding your objectives and strategies concerning inheritance.
While equity release and lifetime mortgages remain viable options, we consider them as last-resort solutions. Our belief is that there might exist a more suitable alternative tailored to your specific circumstances.
Knowing the significance of later life mortgages, we strongly encourage you to involve your family members or other trusted individuals in our discussions.
In the event that equity release is determined to be either suitable or unsuitable for your needs, our knowledgeable later life mortgage advisors in Doncaster will direct you to the appropriate services that can further assist you in devising your plans.
Once your free equity release and lifetime mortgage advice appointment has concluded, your later life mortgage advisor will then look for the perfect lifetime mortgage deal in Doncaster that matches both your personal and financial situation currently and how it may possibly change in the future.
Your family is always invited to join in with the lifetime mortgage advice process and if we are able to, we will always accommodate our customers’ different needs and circumstances.
With our guidance and support, you feel at ease during the whole mortgage process. We aim to be the best of the best!
We always do everything within our power to help our customers to overcome every mortgage hurdle that comes our way, no matter how complex; we all love a good challenge here at Doncastermoneyman! We work for our customers, and will always have your best interests at heart.
We will be there for you every step of your mortgage process. With our continued help and support, we will work hard to reduce your stress levels and we progress along this mortgage journey together.
We bring that very same devotion to providing the absolute best, whole of market lifetime mortgage advice in Doncaster for our highly valued, older clientele.
We will always try and overcome every mortgage hurdle that we are faced with, no matter how hard the situation is! We will always have your best interests at heart.
A fast & friendly, open & honest mortgage broker in Doncaster, we have been happily helping customers to achieve all of their mortgage dreams for the last two decades and counting.
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