Equity Release Advice Redditch

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How does equity release in Redditch work?

Are you an existing homeowner looking to remortgage? Equity Release in Redditch is an option you can consider – turning the equity in your home into a lump sum of cash to use for whatever you need.

Equity Release in Redditch usually comes in the form of a lifetime mortgage.

This is where you can choose to release your equity, either once your mortgage term ends, or even if there are still payments left. This option is only available if your primary residence is your home.

You can also make monthly payments back, but a popular choice is to let the interest build up. The loan only becomes repayable when you die, or move into long-term care, and are declared unable to take care of yourself without assistance.

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Equity Release Advice Redditch

Things to Remember with Equity Release in Redditch

When considering Equity Release there are a few things you should take into account. You must be at least 55 years old to qualify, and the age of the applicant and the value of the property can affect how much you can withdraw.

For further mortgage advice in Redditch surrounding Equity Release, it is worth seeking out a specialist in the field.

Get in touch with a mortgage broker in Redditch and we will be open and honest, providing you with 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. Apply Now

Popular Options For Equity Release in Redditch

Equity Release to Pay Off a Mortgage

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It is possible to use a proportion of the equity in your home to pay off the remaining balance of a mortgage, even if you have not finished your mortgage term yet.

That said, this could affect your affordability as you still have a significant outgoing to pay for.

Equity Release to Pay Off Unsecured Debts

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Unsecured debts are debts that are not secured against any assets, such as personal loans. In this case, people choose Equity Release to cover the costs of any accrued unsecured debts.

Equity Release in Redditch for Home Improvements, Modifications or Alterations

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If you are looking to release equity from your property to carry out home improvements, then a lifetime mortgage could be the right option for you.

Alternatively, a regular remortgage to release equity is another possible route, depending on your situation.

An experienced mortgage broker in Redditch can look at your individual circumstances and provide advice on which is the best option for you.

Equity Release in Redditch for Additional Purchases

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Equity release can also be used for other purchases such as a holiday, a new car or a wedding.

If you are interested in releasing some equity from your home, then we recommend that you speak to one of our experienced Equity Release and lifetime mortgage advisors in Redditch today.

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Our Simple Mortgage Process

Free 45-Minute Chat About Your Future

Step 1

During your free mortgage appointment, our later life mortgage advisors in Redditch will discuss your inheritance plans and goals with you.

You can book your free mortgage appointment online and pick a date and time that best suits you. We have availability 7 days a week!

Alternatives to Equity Release

Step 2

Before considering equity release and lifetime mortgages, we will explore alternative options that may be better tailored to your specific situation. These alternatives will be given priority in our assessment process.

From retirement mortgages to possible charity participation, we'll look at the best options for you before releasing equity from your home.

Discuss With Family / Trusted Parties

Step 3

Considering the significance of later life mortgages, we strongly encourage our customers to include their family or trusted parties in the discussions. We believe their involvement can be valuable in making well-informed decisions.

Our aim is to ensure you have a clear understanding of everything involved so that you can make informed and agreeable choices.

Tailored Lifetime Mortgage Recommendation

Step 4

Should our assessment reveal that equity release is either suitable or unsuitable for your specific needs, our experienced later life mortgage advisors in Redditch will guide you towards the relevant services that can provide further assistance in developing your plans.

We are dedicated to ensuring you receive the support and resources necessary to make informed decisions about your financial future.

I have Equity to Release, can you help?

Free Mortgage Review

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You can easily schedule a free mortgage appointment online, where one of our dedicated later life mortgage advisors will guide you through all your available options. They will help you understand the necessary steps, explore your choices, and explain the potential implications of taking out a lifetime mortgage in Redditch on state benefits, taxes, and the remaining equity in your home over time.

We highly recommend involving your family members or another trusted individual who can provide support throughout the process and participate in the meetings with the advisor.

Rest assured, our initial advice comes at no cost and with no obligation or pressure to proceed. We only charge an advice fee if you decide to proceed and your case is successfully completed.

Finding You The Perfect Deal

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After finding you the perfect deal, your dedicated later life mortgage advisor in Redditch will provide you with a mortgage illustration. This document will outline the details of the equity release product that your later life mortgage has pointed out for you.

Following this, your later life mortgage advisor in Redditch will thoroughly review the recommendation with you before proceeding to submit an application to the mortgage lender. This ensures that you have a clear understanding of the proposed course of action and can make an informed decision moving forward.

Our Service

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As a transparent and trustworthy mortgage broker in Redditch, we have been assisting our customers in achieving their mortgage goals and aspirations for over two decades.

Our advisors share the same level of passion and dedication when it comes to providing whole-of-market lifetime mortgage advice in Redditch for our esteemed older clients.

We take great pride in our exceptional team of experienced case managers who, together with your later life mortgage advisor in Redditch, will oversee the entire process until its successful completion. Throughout your journey, they will keep you well-informed and readily available to address any queries or concerns you may have.

Malcolm and Amy Davidson - Mortgage Advice in Birmingham

Finding you the Right Equity Release Deal in Redditch

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Popular Options For Equity Release in Redditch

I have an Equity Release enquiry, can you help?

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We have a trusted equity release specialist in Redditch on our team who may be able to help. They are highly experienced in the field and will be able to answer any questions you may have.

Can you help me remortgage to release equity?

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This is something we can certainly look into, yes! We can help you with a standard remortgage enquiry if you are reaching the end of a fixed period or if you have any other queries.

With an impressive 20 years of expertise in the mortgage industry, our team have helped thousands of customers achieve their goals, which is what drives us to ensure your process is as smooth and stress-free as possible, no matter your current situation.

As a mortgage broker in Redditch, we are fully devoted to you, the customer.

Why should I use you for my remortgage?

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As a knowledgeable and supportive mortgage broker in Redditch, our team of experts search through 1000s of remortgage deals to make sure you get the most suitable deal for your individual and financial circumstances.

Our committed team of mortgage advisors and administrators are on hand 7 days a week to support you with your mortgage needs throughout the entire process. We are even able to help you with other services where applicable, such as finding a qualified conveyancing solicitor.

The team are proud to provide an outstanding level of service to all of our customers. Don’t just take our word for it. Read some of the genuine customer reviews we have received. Get in touch to get the mortgage advice in Redditch you need 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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