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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.
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.
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.
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.
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 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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4.99 Rating74 Reviews
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
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!
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.
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.
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.
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!
Read our 74 Reviews
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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