Call Us Now
01923 842 282
If you're over the age of 55, equity release offers you a way to use the value of your home to raise money. You won’t have to make monthly repayments but the debt will eventually have to be repaid – with interest.
It is advised that you seek Independent Legal advice before entering into a legally binding equity release contract.
Why do people consider Equity Release?
You may have other ideas - there is no restriction on how you use the funds.
However, since equity release can be an expensive way to raise money when taking into consideration payment of arrangement fees or interest, you should also consider the following:
This option involves selling your house and investing the proceeds in income-producing investments. The income from these investments is then used to rent a property and for your living expenses. You would only really be able to generate sufficient income to live on if your property was sold for a large sum of money.
Have you checked to see that you are getting all of the benefits you are entitled to? It may be that you are entitled to benefits that make equity release unnecessary. Also, equity release could affect your entitlement to means-tested benefits so it's worth speaking to your local authorities to consider these areas first. They may be able to offer you grants or assistance with essential home improvements and alterations that you would otherwise pay for yourself.
If you have savings or investments you may wish to consider this alternative.
If your house is sufficiently large you might consider renting out a room to bring in regular extra income.
If your family have grown up and they are off on their own financial journey now, your current home may be too big for your needs and you could consider something smaller and more economical to run. In this case, you could consider purchasing a smaller property, leaving you with a lump sum on completion.
Equity release has to fit with your needs, circumstances and preferences, where the benefits need to outweigh the drawbacks and be more suitable than alternative methods of raising funds.
EQUITY RELEASE (INCLUDING LIFETIME MORTGAGES AND HOME REVERSION PLANS) WILL REDUCE THE VALUE OF YOUR ESTATE AND CAN AFFECT YOUR ELIGIBILITY FOR MEANS TESTED BENEFITS.
I want to take this opportunity to thank you profusely for all your work, time and support in steering me through this process. I have felt very confident that I was in good hands from the outset and appreciated your patience and proactivity in seeking out an alternative provider when the original lender turned me down.
We are completed impressed with the professionalism of Capital Financial Services and their outstanding service.
Colin & Chrissy were extremely helpful in assisting us in arranging our first mortgage. As daunted first time buyers who knew nothing about the process, it made things much easier having them there along the way to answer questions, arrange everything we needed and deal with much of the paperwork on our behalf. They always got back to us promptly and took the time to explain what we needed to do and why. They made the process so much easier for us, so many thanks to them both! We wouldn't hesitate to recommend their services.
Colin and the team at CFS arranged our mortgage and life cover. They did an excellent job of talking us through the different options available and explained everything thoroughly, so we fully understood our obligations before proceeding. They were courteous and helpful at all times and we will definitely use them again.
We didn’t fully understand the implications of Inheritance tax, which Colin explained to our family in an easy to understand manner. As a result, we are now secure in the knowledge that the family estate is protected.
After the birth of our first child, we decided to review our finances and contacted Capital Finances Services for independent advice. They were brilliant in advising us on what our priorities should be. It really put everything into perspective and has made us much more aware of our finances. We started with protection plans for our family and are about to make some ISA investments. The fact that the advice was independent really made a difference as the options are much greater and we are comfortable that we have the right plans in place for our needs.
Most of us face being taxed on our income, our capital gains, and in some circumstances the value of our estate when we die. Taxation can be very complicated and the rules ...
Read moreWhen someone talks about savings and saving money, it could be referring to a piggy bank or a high interest deposit account. Savings are effectively cash or cash instruments ...
Read moreWhen you retire you still need food and shelter as an absolute minimum, but of course you will want to maintain the lifestyle to which you have become accustomed ...
Read moreA mortgage is a ‘secured’ loan, which means that the loan is secured against the value of the property being purchased until the mortgage is paid off. ...
Read moreThe main purpose of Life Assurance is to provide money for those people who may depend on you financially, in the event that something should happen to you. ...
Read moreProfessional Financial Planning is the process which aims to help you realise your ambitions - whatever they may be. As professional financial advisers we can help you ...
Read moreA great many considerations need to be given to the growing need for providing Long Term Care to the elderly. In the United Kingdom we are set for an explosion in the number of the population ...
Read moreWhen you die, it is likely that you would wish to leave as much as possible for your loved ones. Unfortunately this is often not as simple as you might believe. ...
Read moreCONTACT US
Capital Financial Services
Argyle House
Third Floor, Suite 3K
Joel Street
Northwood Hills
Middlesex
HA6 1NW
T: 01923 842 282
F: 01923 840882
Email Us
Principal: Colin Baldock
THE GUIDANCE PROVIDED WITHIN THIS WEBSITE IS SUBJECT TO THE UK REGULATORY REGIME AND IS THEREFORE PRIMARILY TARGETED AT CONSUMERS BASED IN THE UK.
AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY. CAPITAL FINANCIAL SERVICES IS ENTERED ON THE FCA REGISTER (WWW.REGISTER.FCA.ORG.UK) UNDER REFERENCE 977595.
Further information about the Financial Ombudsman Service (FOS) is available from their website www.financial-ombudsman.org.uk
© Copyright 2024 - Adviser Pro - All Rights Reserved
Design and Developed by Adviser Pro © 2024