A lifetime mortgage through The Right Equity Release could help you and your family enjoy life.

As a homeowner, your property is probably your biggest asset, but have you ever considered releasing some of the tax-free cash tied up in it? Best of all, you can use the cash lump sum however you wish. Whether that might be going on a holiday of a lifetime, or carrying out those much need home improvements. Perhaps you would like to help your children get on the property ladder for the first time, or you want to assist your grandchildren in any way you can. It could be that you’re simply looking to enjoy a more comfortable retirement. If you’re a UK homeowner aged 55 or over, with a property value of at least £100,000, then a lifetime mortgage available through The Right Equity Release could be right for you.

WHAT IS A LIFETIME MORTGAGE?

A lifetime mortgage is a long-term loan secured against your property. You will retain the ownership of your property and will only be required to make interest only payments. When you die or move into longterm care, your home is sold and the money is used to pay off the loan. Anything leftover goes to your beneficiaries. However, in the unlikely event that the value of your house has decreased significantly it would be possible that the value of your home no longer covers the value of the equity release loan. The Equity Release Council no negative equity guarantee, which all Equity Release Council members offer on their equity release products, means that in this situation the remainder of the loan would be written off, ensuring that whatever the future holds, your beneficiaries would never have to meet the cost of your loan. Taking out a lifetime mortgage will reduce the amount of inheritance you can leave your beneficiaries. Most lifetime mortgages are portable from property to property, subject to property eligibility criteria. Loans can be repaid early but may be subject to an early repayment charge. Additional borrowing may be available in the future subject to lending conditions at that time.

ARE LIFETIME MORTGAGES RIGHT FOR ME?

Lifetime mortgages are heavily regulated and there are many safeguards in place to protect those who take out a plan. The Right Equity Release is a member of the Equity Release Council, a trade body that sets and maintains standards for equity release lenders. It is also regulated by the Financial Conduct Authority (FCA).

The Right Equity Release is one of the UK’s largest specialists, so you can rest assured that you’re in safe hands. As part of the process you will be required to take legal advice. As your local financial adviser with over 15 years experience, I will assess your personal circumstances and I will explain how lifetime mortgages work, including how they may affect your tax position and your eligibility to welfare benefits. I will
provide you with a personalised illustration & will also advise if it’s not the right option for you. It’s also recommended you discuss it with your family members before you make that all important a final decision.

TRER key featuresTHE RETIREMENT MORTGAGE

The retirement mortgage is a new type of interest only lifetime mortgage, that means you can pay off your current lender and take your new mortgage into your retirement. However, there are a multitude of lenders and retirement products that I can advise on, so if the retirement mortgage isn’t for you, I may be able to help you find a more appropriate option to suit your circumstances.

FIND OUT MORE

For more information and to find out if you’re eligible for a lifetime mortgage through The Right Equity Release please contact us to arrange a free no-obligation consultation with your local Equity Release adviser

*The actual rate available will depend upon your circumstances.