Equity Release Surrey – Mushroom Ltd Equity Release
Equity Release is a way to unlock money tied up in your home for people over the age of 55. Get in touch with us today to speak to an equity release specialist in Surrey.
Equity Release Surrey – Welcome to Mushroom Ltd
Equity Release Surrey, Weybridge, East Molesey, Guildford, Croydon, Kingston, Walton On Thames, Teddington & Surrounding Areas.
Equity Release is a way to unlock money tied up in your home for people over 55. It is also a way of getting money from your home to change your quality of life, enable you to pay off debts or buy the things you’d like; holidays, new car, home repairs, or the chance to travel and see relatives.
You can also use Equity Release to gift money to your children or grand children
The most common method of achieving this is via a Lifetime Mortgage. Lifetime mortgages don’t have a defined end date, this means that they last until the mortgage is paid off, you go into a residential care home, or when you pass away. If you are a couple, when the last borrower either dies or moves into long-term care, the home is sold and the money from the sale is used to repay off the loan with any surplus money going to beneficiaries.
The interest rates are generally fixed for life, although variable rates do exist. Interest rates are competitive as there is fierce competition between lenders which has also led to increased product flexibility & innovation.
If you want to pay interest, in most cases you can. If you want to pay back capital like in a conventional mortgage you can. If you don’t want to make any payments at all you don’t have to, in this scenario the interest is added to the loan and the total amount is paid back if you decide to sell the house, move into residential care or pass away.
Here are just some of the reasons why an Equity Release Lifetime Mortgage could be right for you…
1.
With a Lifetime Mortgage you can release as little as £10,000 tax-free from your property and leave more funds in reserve for when you need it. Your property remains your own, you have just borrowed against it. It’s important to understand that releasing equity from your home with a Lifetime Mortgage will reduce the value of your estate and may affect your entitlement to state benefits. To understand the features and risks, ask for a personalised illustration.
2.
You can become repayment mortgage-free, meaning you can reduce your monthly outgoings and free up cash for more rewarding things as you are not required to make any monthly interest payment, unless of course you wish to.
Most lenders off the flexibility of paying off some of the capital each year, up to 10% without any early repayment charges.
3.
You may want to release equity to help support your family, children or grandchildren as and when they need the help instead of the traditional route of waiting to leave an inheritance. The advantage of this is that you can see and enjoy the help you have provided.
4.
Imagine the difference the money could make in everyday life, helping with travel, food, bills and other living expenses that seem to go up and up.
5.
How would it feel to have the money to take that holiday you’ve always dreamed of, perhaps visiting family that you haven’t seen for years?
6.
You could finally have the funds to make home improvements, such as putting in a conservatory, installing a more modern kitchen, landscaping the garden or extending the home to accommodate friends and family.
7.
You may want to upgrade to a new, more efficient, reliable car.
8.
The interest rate is generally fixed for life so you can be sure of what you are being charged.
9.
Most providers now offer a ‘no-negative-equity guarantee’, which means no matter how much you take with the plan you will never owe more than the value of your property.
Equity Release Surrey & Surrounding Areas
An Equity Release Specialist You Can Trust
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