In the past, Equity Release was seen somewhat as a “last resort” however, with the significant regulation surrounding today's products, and the attractive rates, it is considered a far more appealing way of raising funds than it was 20-30 years ago.

With low interest rates and such a huge selection of flexible options, local adviser, Sarah Ferrell, talks about how considering Equity Release may be more attractive than ever before.

Why might I consider Equity Release? There are many reasons why Equity Release may be a suitable option for people looking to raise capital in retirement - home improvements, repaying a mortgage, gifts to family or just wanting to make retirement more financially comfortable.

Why is it so attractive now? Low interest rates, which are fixed for life, are making borrowing attractive in an otherwise very uncertain climate.

How can I use Equity Release to help my family? With recent changes to the traditional mortgage market it is increasingly difficult for people to secure 90% mortgages. Those who are able to do so are paying considera- bly higher rates of interest for the privilege. It has become increasingly popular for parents to release equity in order to help their children buy properties given the restrictions to borrowing.

The last few months have seen a massive change with withdrawal of many higher LTV products. This in turn means the younger generation in many cases are unable to secure the level of borrowing they were able to a few months ago without the help of their parents.

What are the down sides? Using Equity Release, for whatever purpose, is likely to have an impact on the Equity in your property longer term, however as many


Business Focus EQUITY RELEASE - is the timing better than ever? (for all generations)

schemes are flexible this not always need be the case.

An Equity Release transaction is, however, designed to be a lifetime financial commit- ment and while many schemes offer flexibility to repay early, there can be penalties for early repayment, so it should be carefully and thoroughly considered before going ahead.

What is your advice to people consider- ing Equity Release? I feel it is important to carefully think about why you are looking at Equity Release as the financial solution for you and to also think carefully about the amount of money needed. I would always recommend talking the options through with a qualified professional as there are a number of different schemes and not every scheme is suitable for every person’s circumstances.

Call Sarah on

07789 007447 01622 631372

Equity Release will reduce the value of your estate and can affect your eligibility for means tested benefits. MORTGAGES


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