If you’re looking to release equity from your property but aren’t sure where to start, Your Mortgage People have the means to help by searching the whole of market to get the best deal for you.
Equity release products give you a chance to unlock the money in your home with no monthly repayments while continuing to live there.
To speak to our advisors about Equity Release, hit the button below.
Arranging funds through an equity release scheme applies for later life lending, usually those aged 55 and over. It allows you to release some of the money tied up in your property while continuing to live there but unlike a traditional mortgage, you can choose to have no monthly repayments. Instead the interest on the borrowing is rolled up onto the debt which is repaid when the property is sold either by you or your family after you pass.
Considering an equity release plan can be complex but our specialist advisers will advise which kind of scheme suits you best and iron out any questions you have.
1. Send us an enquiry to let us know your interest in equity release
2. Your advisor will make contact and tell you all about our process so they can begin finding you the best scheme
3. We help you gather together everything you need for your application, and submit it to the lender
4. The lender confirms their offer and your new equity release begins on the terms agreed
5. Funds are released by the lender at the amount agreed in the terms, with potentially no monthly payments to make and with the interest being rolled up onto the balance.
To discuss Equity Release Mortgages or other options available to you, speak to one of our friendly, experienced advisors today by completing the form below.
Yes, because of the risk the lender is taking, a higher interest rate safeguards them against changes in the property market. Some borrowers won’t see this as a negative if they aren’t making any repayments though.
