Aged 60 plus?
Are you worried about low pension income or house repair or adaptation costs?
Equity release could be the ideal solution for you. An equity release plan can help you gain access to your own capital. A significant proportion of retired people are asset rich but cash poor. Invariably their personal wealth is tied up in bricks and mortar leaving only a limited income to survive on.
Equity Release allows a percentage of the value in a property to be released and used as capital for personal use.
The cash released can be used for any purpose - eg healthcare, reducing inheritance tax liability, home alterations, holidays or as a gift for relatives. Unlock the capital that's tied up in your home – start by contacting the experts. Contact Westcliff Financial today.
TYPES OF EQUITY RELEASE PLANS
Home Reversion Plans
Home Reversion Plans allow tax-free capital to be raised from a property without the need for a mortgage. The homeowner agrees to sell a percentage or all of their home to a reversion plan company. The amount of cash raised is based on the condition and location of the property, as well as the status of the client's health. The client retains the right to live in the property for life.
This is a home reversion plan. To understand the features and risks, ask for a personalised illustration.
Lifetime Mortgage
A qualified mortgage lender offers a cash sum, which represents an agreed percentage of the current value of the property. This percentage increases with the age of the client and the cash raised can be taken as a tax-free lump sum, tax-free monthly income or a combination of the two. The debt is settled when the property is sold or the client dies.
Your home may be repossessed if you do not keep up repayments on your mortgage. This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration.
SHIP
Westcliff Financial deals only with providers registered with SHIP ( Safe Home Income Plans). SHIP Plans carry a no negative equity guarantee - meaning you will never owe more than the value of your home.
"Thank you for your advice, we now have peace of mind."
Call 01702 436 700 or e.mail now for a free, no obligation consultation.
Any tax-free lump sum that you release will reduce the equity in your property and the amount you leave as an inheritance.
Your home may be repossessed if you do not keep up repayments on your mortgage. We are usually paid by commission, however a fee of up to 1.5% of the loan might be charged. A typical fee is £299.