downsmail.co.uk The truth about Equity Release
Having been in the mortgage industry for over 27 years Sarah Ferrell, our local Equity Release specialist, has seen lots of changes.
“The current climate has certainly caused people to reassess their finances and their priorities. I am finding that people who are retired, or approaching retirement, are considering mortgage finance for a whole variety of different reasons and are often disappointed that the high street banks are 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
MORTGAGES
people are still 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. 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. There are so many ways of structuring Equity Release that it is certainly not a “one size fits all” scenario. There is so much regulation and protection in place nowadays that the schemes of the past are
EQUITY RELEASE
unrecognisable to the many options available today.
I feel that taking advice about Equity Release is vital. 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. There are so many options available.
RE-MORTGAGE BUY-TO-LET
Business Focus
“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
For more information or a free initial consultation, please call Sarah on 01622 631372, 07789 007447 or e-mail her at
sarah@ferrellfinancial.co.uk
FIRST TIME BUYERS
This article is for information only and should not be construed as advice or a recommendation. You should always seek independent financial advice prior to taking any action. Equity Release can reduce the value of your estate and can affect your eligibility for means tested benefits.
Fri 30th & Sat 31st July
LUCY PORTER BE PREPARED
Sat 18th Sept Tues 21st Sept
11
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48
