Equity Release
What is equity release?
Equity release is a method of unlocking the value of your property and turning it into a cash sum. It involves you either selling a portion of or borrowing against, your home. The amount you can release is dependent on your age and the value of your property.
This option is primarily targeted at retirees who might not have significant cash savings, but have most of their assets tied up in their homes. The released cash can be used for any purpose, such as supplementing pension income, funding home improvements, covering care costs, or even supporting family members by providing them with an ‘early inheritance’.
How can Buzz Financial Help You Unlock the Equity in Your Property?
At Buzz Financial, we are specialists in equity release and have helped many of our customers release money from their homes. But what is it, how can it help you and how do you get started?
Two main types of equity release:
- Lifetime Mortgages: This is the most common type of equity release. This involves taking out a mortgage secured on your home, but instead of making regular payments, the interest ‘rolls up’, and the loan amount plus the rolled up interest is repaid when the property is sold, usually after death or when moving into long-term care. You retain full ownership of your home and can live in it rent-free for life.
- Home Reversion: This scheme involves selling all or part of your home to a reversion company for below market value but you have the right to live there, rent-free, for as long as you wish. The home, or the portion sold, belongs to someone else, but with the guarantee you can stay there for life or until you move into long-term care.
Buzz Financial can save you thousands
You may already have an equity release arrangement but did you know that you could missing out on a better deal? We can review your current arrangement and see if there is a better alternative for you. Alternatively, if you aren’t already enjoying the benefits of equity release, we can help you.
Seek Professional Advice
It is worth mentioning that while equity release can be a lifeline for some people, it can be an expensive way to borrow and may not be the best solution for everyone. It could possibly reduce the value of your estate and may affect your eligibility for means-tested benefits. So, it is advisable to consider all options, such as downsizing to a smaller property or other forms of borrowing, before opting for equity release. Additionally, professional advice from a financial adviser is highly recommended when considering equity release.
To find out more about equity release, and see how we can help you, give us a call on 01934 756717.
CLIENT TESTIMONIALS
To contact us with your mortgage or finance enquiry, please fill in the details below. A member of our team will then be in touch to discuss your requirements.
How else can we help you?
Our clients vary in terms of their financial status and their mission. Some already own their own home and simply want a better deal. Other clients are looking to buy their dream estate.
Many need finance to fund a property purchase or move to give them the extra space or land they want.
Some have run out of cash on a building project or could be under heavy financial pressure.
Mortgages
Home Insurance
Life Insurance
Why use Buzz Financial?
At Buzz Financial, we have considerable experience in helping clients with financing with access to the whole of market.
By considering your unique needs, we will find the mortgage and/or insurance policy that is most appropriate for your requirement. We will then present you with the most financially attractive options to help you move forward quickly.
To find out more, complete our online enquiry form or contact us by telephone or via email to discuss your requirements further.