Equity Release

For most of us our house is our major asset.  Very often our wealth is tied up in the property and in many ways not working for us.  If you need to free up extra cash for any reason then equity release could be the answer.  A good equity release scheme could help you to:

  • Purchase a property if you are too old to qualify for a traditional mortgage
  • Pay for improvements to your current home
  • Assist children or grandchildren with a cash gift
  • Clear a residual mortgage so that you do not have to make mortgage payments in retirement
  • Pay for holidays now and in the future
  • Provide a fund for you to hold as an emergency reserve

There are a host of situations where equity release could be the answer.  Not all mortgage advisers are permitted to advise on equity release which requires an additional qualification.  At Ridgemount we have the necessary qualifications and expertise to advise you so if you feel that this is something that might suit you please fill in an enquiry form or give us a call.

  • Equity release schemes involve borrowing against your home (or in the case of Home Reversion Plans – selling all or part of your home) and may work out more expensive in the long term than downsizing to a smaller property.
  • Equity release may affect your entitlement to state benefits and grants.
  • Releasing equity will reduce the value that you have in your home and therefore the amount of inheritance that you will be able to leave. It can also make the process of leaving your property to beneficiaries more difficult – especially in the case of a Home Reversion Plan.
  • Should you wish to end the plan it may be difficult and you may incur penalties to do so.
  • Think carefully before securing other debts against your home