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I am approaching retirement but did not want to down size due to the fond family memories I hold with my home. I wanted the option that when I do retire I will not have to worry about paying my mortgage or debts therefore after discussing all of the options with Andrew I decided to proceed with Equity Release. I took out a lifetime mortgage with no redemption, this way I had no restrictions on any future plans as I was free to repay the loan whenever. I also got rid of a few small debts that I owed at the same time.
I could no longer afford to manage my 8 bedroom house, I wanted to downsize but did not have the equity in my existing property to purchase a new property outright. With my age, income and credit file I could not obtain a residential mortgage, after seeing Andrew he advised an equity release lifetime mortgage on an interest only basis, I was over the moon that I could buy my new home and realised without equity release I would of had to go into rented accommodation. At the same time Andrew pointed me in the right direction to obtain council tax benefit which I was entitled to. Altogether wonderful advice from Andrew.
We wanted to carry out some home improvements with the option of withdrawing further cash when necessary. Andrew advised on a lifetime mortgage with a drawdown facility, this way we got out an initial cash lump sum and could draw the additional cash when necessary thus save £1,000’s in interest.
I am a widow with no mortgage on my property but had insufficient funds to carry out home improvements and treat myself & my family to a dream holiday. After discussing the options with Andrew I went for an interest only mortgage which I could afford, at the same time I knew the debt would not increase on my house so I knew exactly what I would be leaving my estate. We wanted to carry out some home improvements with the option of withdrawing further cash when necessary. Andrew advised on a lifetime mortgage with a drawdown facility, this way we got out an initial cash lump sum and could draw the additional cash when necessary, saving £1,000’s in interest. These are Lifetime Mortgages and Home reversion plans. To understand their features and risks ask for a personalised illustration. For our advice we can charge a fee of typically £295 or we can receive commission from the lender. Equity Life UK Limited is an appointed representative of Sage Financial Services Limited which is authorised and regulated by the Financial Services Authority. Sage Financial Services Ltd is entered on the FSA register (www.fsa.gov.uk/register) under reference 150452 Equity Life UK Ltd. Registered Office: 80 King Street Maidstone Kent ME14 1BH. Registered in England No. 6164416. The guidance within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK. For a FREE initial discussion or to answer any questions, please contact us by email at:
Equity release mortgage ~ Equity release scheme ~ Equity release loan |
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| Email:info@equitylifeuk.com |
