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Equity Release Advice Birmingham

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Equity Release Advice Birmingham

Aged 55+ in Birmingham? Explore a wide range of later-life mortgage solutions. With numerous equity release products available, our experts will help you find the right solution for you.

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How does equity release in Birmingham work?

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.

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Equity Release Advice Birmingham

Lifetime Mortgages in Birmingham

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.

What are some things to remember with equity release?

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.

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Equity Release FAQs in Birmingham

I have an Equity Release enquiry, can you help?

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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.

Can you help me Remortgage to Release Equity?

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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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Our Simple Mortgage Process

Free 30 Minute Chat About Your Future

Step 1

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.

Alternatives to Equity Release

Step 2

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.

Discuss With Family / Trusted Parties

Step 3

Recognzzing the significance of later life mortgages, we strongly encourage you to involve your family members or other trusted individuals in our discussions.

Tailored Lifetime Mortgage Recommendation

Step 4

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.

I have Equity to Release, can you help?

Free Mortgage Review

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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.

Finding You The Perfect Deal

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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 Service

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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.

7 Days a Week

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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.

Malcolm and Amy Davidson - Mortgage Advice in Birmingham

Finding you the Right Equity Release Deal in Birmingham

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Popular Options For Equity Release in Birmingham

Equity Release to Pay Off a Mortgage

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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.

Equity Release to Pay Off Unsecured Debts

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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.

Equity Release in Birmingham for Home Improvements, Modifications or Alterations

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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:

  • Home offices
  • Conservatories
  • Garden Improvements
  • Extensions
  • Interior improvements
  • Garage

Equity Release in Birmingham for Additional Purchases

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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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