equity release

What Is Equity Release?
Equity Release Schemes allow people over the age of 55 to withdraw the equity that is tied up within their property. The equity released is then turned in to cash to use for whatever purpose you wish. You may want to go on a worldwide holiday, supplement your income or help your children or grandchildren purchase their own home.  The money can be withdrawn as a lump sum, or by flexible withdrawals. You have the freedom to spend the equity release tax free cash on anything you wish.


Equity release schemes are designed to run for your lifetime. They are repaid on death or after moving into long term care. At this point the house is usually sold and the equity release mortgage is repaid from the sale proceeds. Equity release lenders generally provide a 12 month window to complete this sale. Any money left over will pass to your beneficiaries.

Some schemes now also give you the option of making monthly payments, thus you can choose whether to repay the interest now or have it rolled up. This decision will depend on your own personal finances & how much inheritance you wish to leave your children or beneficiaries. This is key to the equity release decision making process and should always be discussed with your family members.

Lifetime Mortgages give you the option of paying the interest on a regular (e.g. Monthly) basis, so that if you keep up all of the interest payments the outstanding debt against your home does not increase. Some Lifetime mortgages allow you to ‘roll-up’ the interest on the loan. While you do not have to make monthly interest payments the interest is added to the loan increasing the amount of debt, and in turn the interest that will be charges (i.e. if you ‘roll-up the interest you will pay interest on the original loan, and on the ‘rolled-up’ interest added to the loan. Obviously a rolling-up the interest keeps your monthly costs down, but the amount of loan that has to be repaid increases
There are many types of lifetime mortgage and equity release schemes available. It is very important to ensure that you seek professional advice.

There are generally five types of Equity Release scheme available:

• Interest Only Lifetime Mortgage
• Home Income Plan
• Roll Up Lifetime Mortgage
• Drawdown Equity Release
• Home Reversion Plan

Each type of equity release plan is unique in its own right and care should always be taken in establishing the best equity release scheme, dependent upon your particular circumstances and needs. There are many companies offering Equity release products, but terms, conditions and interest rates vary dramatically. It is imperative that you seek professional advice.

Our highly qualified and experienced adviser will look at your personal circumstances in detail & advise which Equity Release plan would best fit your needs.

If you appoint us to arrange your Equity release Mortgage you will benefit from:
• Allocation of professional & experienced FCA qualified adviser
• A detailed examination of your exact financial position
• A whole of market product search
• A detailed report on our recommendations applicable personally to you
• Total hands off application process, we deal with everything for you
• Peace of mind, knowing you are in safe hands

Fees charged vary according to circumstances. A typical Equity Release completion fee of up to 1% will be applicable

 For more information please call 01622 831855 or complete the enquiry form below.


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I Save Lots.com is a trading style of James & Co Wealth Management Ltd  who is an appointed representative of Intrinsic Mortgage Planning Limited and of Intrinsic Financial Planning Limited who are authorised and regulated by the Financial Conduct Authority. Intrinsic Financial Planning Limited and Intrinsic Mortgage Planning Limited are entered on the FCA Register (http://www.fca.org.uk/register) under reference 440703 and 440718
The guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK.