Equity Release

Equity release allows homeowners to release a tax-free lump sum (equity) from their property without having to sell up and move. The equity is simply your property’s market value minus any mortgage or loans secured against it. Equity release is only available to homeowners aged 55 and over with a property worth at least £70,000.

There are two types of product available for equity release:

• A lifetime mortgage, which is a loan secured against your home and lets you access some of the tax-free funds tied in the value of your home while still retaining full ownership. 
• A home reversion plan, which allows you to sell part or all of your home to a reversion company while staying in it as a tenant. The reversion company then gets a share of the proceeds when your home is sold – usually after you die or move into permanent care. 

Equity release can be a flexible and convenient way to boost your retirement income and improve your quality of life.

Here are some of the benefits of equity release:

• You can use the money for any purpose, such as paying off debts, home improvements, holidays, care costs, or helping your family. 
• You can choose how much money you want to release and when. You can take a lump sum, regular income, or a combination of both. 
• You can stay in your home for as long as you want, without having to worry about monthly repayments or interest charges (unless you choose to make them). 
• You can benefit from any future increase in the value of your home, depending on the type of plan you choose and how much equity you release. 
• You can protect a percentage of your home’s value for inheritance purposes, if you wish. 
• You can switch to a different plan or provider if you find a better deal, subject to any early repayment charges. 

At tba Wealth Management, we are specialists in providing tailored financial solutions for retirees. We can help you with every aspect of equity release, from finding the best plan and provider for your needs, to ensuring that you get the best possible deal.

We offer independent and impartial advice on all types of equity release products from the whole market. We are members of the Equity Release Council, which means we adhere to their strict standards and code of conduct.
 
Contact us today for a free consultation and quote. We will explain everything you need to know about equity release in clear and simple terms. We can also provide you with a personalised illustration that shows you how much money you could release, how much it will cost, and how it will affect your estate.

We look forward to hearing from you - call 020 8661 7878 or email advice@turpinba.co.uk