LIFETIME MORTGAGES/EQUITY RELEASE

After years of hard work, we all want to make the most of a long and enjoyable retirement. Time for your family, your leisure activities, your holidays, time for you! As a homeowner you’ve no doubt planned your finances carefully to allow for a certain level of income throughout your retirement, but what if it doesn’t stretch far enough? With ever rising household bills, many are finding the daily cost of living far more than they had anticipated. Sound familiar?

We can give you the opportunity to convert some of your home’s value into a lump sum or a regular income, without having to sell up and move house. This can be achieved with a lifetime mortgage, commonly referred to as an equity release plan.

Equity release is not the only way you can raise money and other options may be more suitable for you, so the right advice is very important. Our qualified and experienced advisers can help you assess your current needs and circumstances, and work out whether equity release is a suitable and viable option for you.

If appropriate, we will recommend the right product from a panel of carefully selected providers, who are members of SHIP (Safe Home Income Plans), and provide a personal illustration to let you know how much money you could raise and what it would cost. We will also let you know whether any benefits that you currently receive from the state will be affected.

This is an equity release plan, to understand the features and risks ask for a personalised illustration. After the initial consultation, Mortgage Select charge a fee of £195 up front for the research involved and £595 on completion. Think carefully before securing other debts against your home.

Key facts for lifetime mortgages

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