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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.
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.</strong
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.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The fee is up to 1% but a typical fee is £995.
You should always think carefully before securing a loan against your property.
A lifetime mortgage will reduce the value of your estate and may affect your entitlement to means tested benefits.
Clearing existing mortgage with a lifetime mortgage may result in higher cost of borrowing.
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Dan and Jonathan were very helpful and explained everything in detail. We were able to then make an informed decision on our lifetime mortgage.
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During your free initial mortgage appointment, our later life mortgage advisors in Redditch will discuss your inheritance plans and goals with you.
You can book your free initial mortgage appointment online and pick a date and time that suits you. We have availability 7 days a week!
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 most suitable options for you before releasing equity from your home.
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.
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.
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Birminghammoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Birminghammoneyman 2025.
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Birminghammoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Birminghammoneyman 2025.
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