• Donnington Grove

Cash poor and asset rich?

Consider unlocking the wealth in your home

If you are one of the countless homeowners struggling to make ends meet as you approach retirement, or are wondering how to repay your interest only mortgage don’t worry – you are not alone. Many people suffer from being “cash poor” and equity rich. This means that all your money is tied up in your house, unable to help you with bills and living expenses.

High living expenses and low pensions can create an uncomfortable living situation for many UK families. However, with a Lifetime Mortgage you could discover a happier and more comfortable lifestyle.
The actual loan amount potentially available to you will depend on your circumstances, property valuation and status.

How will you use your lifetime mortgage?

The great thing about a Lifetime Mortgage is that the money you receive can be used however you like, maybe :
l Repay your interest only mortgage
l Debt consolidation
l Home Improvements
l Holiday of a lifetime

You can also pay for long-term care in your home, access private medical treatment, purchase a new car, or even treat your children and grandchildren. The choice is completely up to you.
However, because a Lifetime Mortgage is a complex financial product, it is important to make sure that you get the right financial advice before you begin your application.

There are options to consider of paying some or all of the interest on the mortgage or rolling it up into the loan. Ensure you understand the implications of both and which will be the most appropriate for your circumstances.
I do encourage family members or a trusted friend to be present in meetings, as sometimes they will have questions different to yours which may be beneficial. Having family members present also allows you to fully discuss the benefits to you of taking out a lifetime mortgage, and also the effects on inheritance which will be available to your beneficiaries on your death.

The more you know about how your Lifetime Mortgage works, the more confident you should be accessing the capital inside your home.

At Your Equity Release Options, we can suggest the plan most suited to your needs by researching all the products in the market. We offer a no obligation Retirement Mortgage Review, at no cost to you.
You can connect with us face-to-face or over the phone for services that include:
l In-depth and easy-to-follow explanations of Lifetime Mortgages and whether they are appropriate to your situation.
l A personal and bespoke recommendation made according to your specific circumstances.
l Insights into the home equity products that are most suitable for your needs.
l Set up and on-going management of the mortgage.

In the first half of 2017 £305,810,476 was paid out in Equity Release Mortgages*

What is Equity Release?
Equity release refers to a range of products letting you access the equity (cash) tied up in your home if you are over the age of 55. You can take the money you release as a lump sum or in several smaller amounts or as a combination of both.

Carol Brown
Senior Mortgage Consultant
Call us today on
01635 550 179 and discover the wealth in your home.