Equity Release Advice | Lifetime Mortgage
A Lifetime Mortgage is a way for homeowners aged 55 and over to access tax-free cash from their property while continuing to live in their home. Whether you’re looking to clear existing debts, support your family, or enhance your lifestyle, equity release could be a suitable solution.
Why Do Homeowners Choose Lifetime Mortgages?
A Lifetime Mortgage may be worth considering if you want to:
- Pay Off Debts – Settle outstanding loans or an existing mortgage.
- Support Your Family – Help your children with a home deposit or financial assistance.
- Reduce Inheritance Tax* – Gifting money to your Children or Grandchildren.
- Improve Your Home – Make upgrades for comfort and enjoyment in later years.
- Enjoy Life’s Luxuries – Fund a dream holiday, a new car, or other high-value purchases.
- Boost Your Income – Supplement your monthly finances without dipping into your retirement savings.
Things to Consider
Choosing equity release is a significant financial decision, and it’s important to weigh up both the benefits and potential drawbacks. Alternative options should also be explored to ensure the right choice for your circumstances.
One key feature of a Lifetime Mortgage is the ability to ring-fence a portion of your home’s value, meaning you can protect an inheritance for loved ones. The remaining value of your home is then used to calculate the amount you can borrow.
Expert Advice You Can Trust
At James Wareham Financial Services, we take the time to understand your needs, providing clear, tailored guidance to help you make an informed decision. We’ll walk you through your options, ensuring you feel confident every step of the way.
Want to learn more? Speak to our expert team today for free, no-obligation equity release advice on whether equity release is right for you.
*If you give some of the money from the equity release to your children, they may have to pay Inheritance Tax in the future. Always seek expert advice when considering this as an option.
*EQUITY RELEASE REDUCES YOUR ESTATE’S VALUE AND MAY AFFECT ANY MEANS-TESTED BENEFITS YOU’RE ELIGIBLE FOR. A LIFETIME MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. CHECK THAT THIS MORTGAGE WILL MEET YOUR NEEDS IF YOU WANT TO MOVE OR SELL YOUR HOME OR YOU WANT YOUR FAMILY TO INHERIT IT. IF YOU ARE IN ANY DOUBT, SEEK INDEPENDENT ADVICE.
