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Business Focus NEVER TOO OLD FOR A MORTGAGE?
Having been in the mortgage industry for nearly 25 years Sarah Ferrell, your local Equity Release specialist, has seen lots of changes.
“I am finding that I speak increasingly to people who are retired, or approaching retirement, and they need to raise mortgage finance for a whole variety of different reasons but the high street is unable to help” Although there has been a move by “traditional” lenders to try and accommodate lending into retirement there are still many people who do not have the income later in life to support a mortgage and need alternative solutions.
Historically Equity Release has had a bad reputation and many people are concerned about whether it is a good idea. Questions I am frequently asked are: ~ Do I have to sell my home? ~ Will it wipe out any inheritance? ~ Would it leave a debt to my children?
It is very important to consider all aspects of a scheme and whilst it has to be considered that some Equity Release options involve an accumulation of interest which will reduce the value of your estate for the future, there are also many options available where interest can be paid. Tere are so many ways of structuring Equity Release that it is certainly not a “one size fits all” scenario. Tere is so much regulation and protection in place nowadays that the schemes of the past are unrecognisable to the many options available today.
CALLS for the installation of CCTV cameras to prevent fly-tip- ping on a country road have been made by the local borough coun- cillor.
Burberry Lane, near Kingswood,
I feel that advice about Equity Release is vital and I do not consider this is a transaction that can be done over the telephone or on-line. I take time and care to fully understand why somebody is considering this route and on more than one occasion have found that there are actually alternatives that have not been considered. I am an advocate of Equity Release as I have seen many people benefit, however it is only right in the right circumstances – Equity Release isn’t for everybody.
I have helped clients who have needed to repay an Interest Only mortgage that is approaching the end of its term, finance the cost of home improvements, help family or just raise some money to make retirement more comfortable. Tere are so many options available.
has been targeted by waste dumpers for years, but in recent months, the problem has become more acute withwaste often strewn across the middle of the road. Cllr Gill Fort, pictured right, said:
“Every month we are having toi- lets, sinks and construction waste dumped in the village, specifically in Burberry Lane. We are now thinking of installing cameras on private land to oversee the problem area.” A recent event in Burberry Lane
Equity Release will reduce the value of your estate and can affect your eligibility for means tested benefits Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
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Illegal fly-tipping is costing local authorities hun- dreds of thou- sands of pounds, says Cllr Gill Fort
“My role is to fully understand why somebody is looking to raise the money, what their plans for the future are and then find the scheme that is right for them” says Sarah.
Sarah is happy to visit your home and, unlike many banks, she is not just available 9-5 but will offer flexible times to suit her clients.
saw a caravan burned out while a car remains on a footpath nearby,
For more information or a free initial consultation please call Sarah on 01622 631372 or 07789 007447 or e-mail her at
info@sarahferrell-equityrelease.co.uk
Call Sarah on
M: 07789007447 T: 01622 631372
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