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Equity Release is where you turn the equity in your home into a lump sum of cash. It’s entirely up to you what you decide to spend the money on; some choose to pay off any unsecured debts, pay for holidays or gift the money to a family member to use for a deposit to purchase a home.
As well as this, it may be something as simple as paying for a planned holiday, car payments and things like that. This is a specialist subject and it should be done right; speak to an equity release mortgage advisor in Birmingham today.
You’re likely to find that Equity Release in Birmingham will come in the form of a Lifetime Mortgage.
How this works is either once you have finished your mortgage term or even if there are still repayments left, you can choose to release your equity through this Lifetime Mortgage. Providing this is your primary residence, you can take this mortgage out, selecting a portion of the equity for future family inheritance.
You can make monthly payments back. However, a popular choice is to let interest build-up. The loan only becomes repayable once you die or move into long-term care, declared unable to take care of yourself without assistance. For additional mortgage advice in Birmingham regarding equity release in Birmingham, it is worth seeking the advice of someone who is a specialist in this mortgage area, like ourselves.
When looking at this for an option here are a few things to consider. You must be at least 55 years old to qualify for Equity Release, and your age and the value of the property can affect how much you can withdraw from your home.
For further Mortgage Advice in Birmingham regarding Equity Release, it is worth seeking out a Specialist in the field. Get in touch with a Mortgage Broker in Birmingham, and we will be open & honest and find you the help you need.
To understand the features and risks, ask for a personalised illustration. Equity Release may come in the form of a lifetime mortgage or home reversion plan.
A lifetime mortgage may impact the value of your estate and it could affect your entitlement to current and future means tested benefits. The loan plus accrued interest will repayable upon death or moving into long term care.
A home reversion plan involves selling all or part of your home to a plan provider in exchange for a tax-free lump sum.
Birminghammoneyman is equipped with a proficient team of mortgage advisors in Birmingham who specialise in Equity Release & Lifetime mortgages. Our qualified Equity Mortgage advisors in Birmingham are dedicated to assisting customers with their inquiries and objectives in this area.
Moreover, our expertise extends beyond Equity Release & Lifetime Mortgages. If you find yourself approaching the end of your fixed term and have standard remortgage queries, our team of mortgage brokers in Birmingham can provide valuable guidance.
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Philip
Dan and Jonathan were very helpful and explained everything in detail. We were able to then make an informed decision on our lifetime mortgage.
6 days ago
Philip
Dan and Jonathen explained everything in a clear and concise manner and were quick to address any concerns. All in all it has been a straightforward experience.
1 week ago
Anonymous
Great brokers, very helpful and efficient.
3 months ago
Charlotte
Fantastic! So quick and efficient and answered all of my questions! Jason and Jo were great, i couldn’t recommend them more! As first time buyers it was an overwhelming process but they made each step so easy! We would certainly recommend!
4 months ago
Rasna
Dinah and Stacey, both have been amazing dealing with my mortgage. I can’t recommend them enough, Dinah has been helpful and has gone above and beyond to get the support/advice I need. I’ve had to change my property and both Dinah and Stacey...
6 months ago
James
Jason and his colleagues at UK Moneyman have been amazing from the start. When we began the process of house buying and finding a mortgage we knew very little, but Jason explained much to us in a telephone consultation and outlined all our options....
10 months ago
Samantha
Very impressed, service was really good and efficient and anything g that needed explaining was done very clear. Would definitely recommend
10 months ago
Shelline
Leo Shakespeare and Stacey Jopling has work long side each other to made this entire journey extremely smooth and informative as a first time buyer. His service has been phenomenal. I had been rejected from many other brokers and banks and he...
1 year ago
Nafesa
I have been dealing with Wendy and Malcolm in regards to my house purchase and I could not recommend these enough. A true credit to the company. Very efficient with communication and solving any issues that needed to be addressed. Would highly...
1 year ago
Anonymous
Incredibly helpful, supported throughout whole process
1 year ago
Nazeef
Fantastic experience. Charlie helped me race through to secure the best mortgage offer, best plan for life and critical illness insurance. Very approachable and responsive even with any queries I had after everything was completed.
1 year ago
Tyler
Had great help from both Joe and Chris and Chloe who were all friendly and always happy to help
1 year ago
Rosie
Made everything very easy, we are first time buyers and they couldn't have been more helpful or informative. They didn't make us feel like we were stupid for not know anything about buying a house and talked us through the entire process. They even...
1 year ago
Sophie
Tom and Meghan were brilliant throughout the entire process! Both were friendly and knowledgeable and explained everything to us clearly and answered our countless questions and gave us clarification where we needed it. Both were easy to contact and...
1 year ago
Esme
Super helpful, made the whole process really easy and explained everything as we went along. Pretty good at keeping in contact, keeping us up to date and explaining the choices we had and then giving us the time to discuss and make those decisions.
1 year ago
Sheikh
I must say I am very pleased with the service I recieved from Moneyman, they set up regular calls and kept us updated throughout the checking progress. Fairly priced fees and very knowledgeable! I would highly recommend their services
1 year ago
Abdassami
Second time with this broker and it's been an amazing experience. Would definitely recommend. Anna and Matt were brilliant.
2 years ago
Nicholas
We couldn't be happier with the service provided. Matt has been professional, helpful and extremely supportive throughout our process. We will certainly be recommending you to friends. Communication was 5* and Matt was available at any point...
2 years ago
Asia
Great team - very good communication and very nice, helpful team that made it possible for me! Thank you for the great service.
2 years ago
Andrew
To say we have had a nightmare of a process of trying to buy a house would be an understatement, however Wayne and team were the bright light that helped us get through it. Can't thank them enough for their help.
2 years ago
When you schedule a free initial mortgage appointment with our laterlife mortgage advisor in Birmingham, we will engage in a thorough conversation regarding your objectives and strategies concerning inheritance.
While equity release and lifetime mortgages remain viable options, we consider them as last-resort solutions. Our belief is that there might exist a more suitable alternative tailored to your specific circumstances.
Recognzzing the significance of later life mortgages, we strongly encourage you to involve your family members or other trusted individuals in our discussions.
In the event that equity release is determined to be either suitable or unsuitable for your needs, our knowledgeable later life mortgage advisors in Birmingham will direct you to the appropriate services that can further assist you in devising your plans.
With over 20 years of experience within the mortgage industry, we have helped thousands of customers achieve their mortgage dreams, meaning the team are determined to make sure that your process runs smoothly and stress-free, no matter your circumstances.
As a Mortgage Broker in Birmingham, we work hard solely for you, the customer. We can help you with a standard Remortgage enquiry should you have any questions, or be reaching the end of your fixed period.
As a responsive and knowledgeable mortgage broker in Birmingham, our determined team can look through 1000’s of different remortgage deals to try and find you the most suyitable deal for your individual and financial circumstances.
Our fantastic team are very proud of the service levels we provide every day here at Birminghammoneyman, customers satisfaction is the heart of our company. Don’t just take our word for it. Check out the Genuine Customer Reviews that we receive regularly.
We have an amazing team of both Mortgage Advisors and Administrators who work 7 days a week to support you with your mortgage needs throughout your mortgage journey. We’re even able to assist with other services when applicable, such as referring to a conveyancing solicitor.
Just because you have not finished your mortgage term doesn’t mean you won’t be able to take out a lifetime mortgage and use a proportion of the equity to pay off the remaining balance of a mortgage; it is possible. Your affordability, however, may be affected by the fact you still technically already have a significant outgoing to pay for, therefore limiting the amount a lender may give you.
Secured debts include things like mortgages, with it being secured against your home. Unsecured debts are things like personal loans, wherein the debt is not secured against any assets. In this case, people choose Equity Release to cover the costs of any accrued unsecured debts.
A lifetime mortgage could be the right option if you are looking to release equity from your property to carry out home improvements. Alternatively, a regular remortgage to release equity is another route to look at, depending on your situation.
Here at Birminghammoneyman, your dedicated mortgage advisor in Birmingham will be able to look at your personal circumstances and advise which is the right option for you.
Here are some popular reasons we see for equity release but not limited to:
There are many other purchases you may wish to make once you have released some equity from your home. These can often include things like a holiday, a new car, even to fund a wedding. If you are looking to release some equity from your home, we recommend you speak with one of our equity release and lifetime Mortgage Advisors in Birmingham today.
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Birminghammoneyman.com & Birminghammoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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Birminghammoneyman.com & Birminghammoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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