Why Equity Release?

You have spent your working life working hard to repay your home mortgage and afford a lifestyle in retirement. However, few of us have made sufficient plans for an income when we are looking to reduce our work commitments or would simply like to take the opportunity to complete our ‘Bucket’ list!

Equity Release allows you to release money from the Equity in your Home, to top up any Personal or Retirement Income you may have in place, allowing you to afford a better lifestyle.

For example, holidays to far-away destination, or to pursue new hobbies are just some of an number of ways that you can supplement your lifestyle with a tax-free sum from your home.

Major Purchase

As well as those holidays, you may be considering the purchase of a new car? Owning a more reliable car is a popular option, and having enough tax-free cash to pay for the car outright means that you don’t need to worry about any monthly finance costs either.

To Help Family

Giving financial help and support to your family and friends is a very popular request from those interested in Equity Release. You could help children afford their first home or move up the property ladder, with a tax-free lump sum from your own property.

Repaying Debt

It may be that you have borrowed money on credit cards and loans that may become difficult to service each month if your income has reduced, or contemplating retirement. By taking a lump-sum from your home, the use of Equity Release could provide you the ability to repay all your outstanding debt, giving you more financial control and providing more disposable income.

Keeping Your Home

Many people assume that when they retire the only option they have is to downsize, or sell their home, to be able release some much needed cash to help towards retirement. But if the home holds a number of family memories where you and your family have lived for a long time, it is not always that easy to sell.

Using Equity Release would allow you to keep your current home, and keep those memories that you shared over the years, whilst releasing a tax-free lump sum of cash. This would avoid the cost of buying and selling a property, and you could use the money for some home improvements if you need to make it more efficient, or adapt it where necessary.

Equity Release in Essex
Tax-Free Cash for Many Purposes
The Amount You Can Borrow is Based on :
  • Property Value
  • Age
  • Your Health

Available Options with Equity Release include :
  • Monthly Payment of Interest
  • Overpayment
  • Further Drawdown
  • Fixed & Variable Rates
  • Ability to Move Home

Equity Release products continually become more flexible, adding a variety of helpful benefits and features that make Equity Release a real option for your financial planning.

Advantages of Equity Release
  • You continue to live in your own home, rent free, for the rest of your life or until you move into long-term residential care
  • A ‘no-negative equity guarantee’ means that your estate will never owe more than the property is worth when it is sold
  • The tax-free cash can be used for anything - home improvements, clearing finance, that dream holiday, or helping your family.
  • With some plans, there are no regular payments to make, or you can make monthly payments if affordable.
  • Great flexibility of modern equity release plans - so you can release the money as a lump sum, or a lump sum with a drawdown facility.
Disadvantages of Equity Release
  • The value of your estate will reduce and will have an impact on what you leave your family as an inheritance.
  • Your entitlement to certain state and means tested benefits may be affected.
  • To repay some or all of your Equity Release Loan early will normally involve Early Repayment Charges.
  • Where the Mortgage interest is compounded, it does mean that over the time the amount you owe can grow quite quickly.
  • Always consider the alternatives. You can look to downsize, or perhaps take in a lodger if you have space in your property.

To discuss your individual requirements, and to identify the right scheme(s) for your needs, speak to us at Essex Home Finance for expert advice.

Why Essex Home Finance?

Essex Home Finance are Mortgage Brokers with access to a significant number of Mortgage Providers and Equity Release Lenders.

Free initial Appointment
One Low Fee payable on Offer
Exclusive Mortgage Schemes
No Obligation

Get In Touch

Speak to Essex Home Finance about your Equity Release, or general Mortgage needs - just complete our mini form below :

By pressing Submit you allow Essex Home Finance Ltd to contact to you discuss your requirements.

Essex Home Finance Ltd is an Appointed Representative of Mortgage Intelligence Ltd which is authorised and regulated by the Financial Conduct Authority under number 305330 in respect of mortgage, insurance and consumer credit mediation activities only.

Registered address: 1 High Street, Chelmsford, Essex, CM1 1BE. Registered in England & Wales under number 10607263.

Your home may be repossessed if you do not keep up repayments on your mortgage

There will be a fee for all Equity Release Mortgage cases. Typically our fee will be £695, payable on Offer. We will agree any fees with you before we proceed with your case.

We always aim to provide a high quality service to our customers. However, if you encounter any problems and we are unable to resolve them you can take your complaint to an independent Ombudsman.

Our advice is covered under the Financial Ombudsman Service. You may be able to submit a claim through the EU Online Dispute Resolution Platform If you live outside the United Kingdom or if you prefer not to deal directly with the Financial Ombudsman Service.

Essex Home Finance Ltd
1 High Street

Email : info@essexhomefinance.co.uk

Tel : 01245 398466
Mob : 07795 081972

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