Helping you make the right decision regarding the equity in your home during retirement
Helping homeowners over 55 make informed decisions about accessing the stored value in their home.
30 Years Experience
in Financial Services
Independent
Whole of the Market
Proud Member Equity Release Council
You should have easy access to clear fair and independent equity release advice from the whole of the market
- Are you unsure how equity release works and is it right for you?
- Are you confused which is the most suitable product for you from all the adverts on the TV?
- Do you want to know whether your children will inherit any debt from the cost of your equity release scheme?
- Do you want to leave your children an inheritance but are worried equity release prevents this?
- Are you worried you won't be able to move home in the future?
- Are you wondering what the total cost of all the fees and advice involved in releasing equity from my home would be?
- Do you already have an equity release scheme; but want access to a better rate?
- Are you concerned about the implications of equity release for your state benefits?
At Alfred James we believe in qualified and sincere equity release advice, promoting a full understanding of the product advantages and disadvantages, putting you in a better position after your meeting than before.
At Alfred James we only recommend providers who subscribe to the standards of the Equity Release Council.
To understand the features and risks involved in a regulated equity release plan get in touch for a personalised illustration.
Advantages and disadvantages of regulated equity release plans
Advantages
- Release a tax-free lump sum from the value stored in your home. Whether to clear your mortgage and debt, improvements on your home, help your grandchildren onto the property ladder or that once in a lifetime holiday
- Access further smaller sums when required via a drawdown lifetime mortgage.
- No interest repayments required on the loan unless you choose to make them.
- You have the right to remain in your own home for life or until you need to move into long term care. As long as your home is your main residence, and you abide by the terms of your contract you have the right to remain in your home.
- No negative equity guarantee, you will never owe more than the value of your home
- You can guarantee a proportion of home's value for inheritance purposes
Disadvantages
- Compound interest, paying interest on interest accelerates the debt over time.
- The value of your estate reduces, and you cannot leave your home as an inheritance
- Your entitlement to state benefits may be affected
- You will have to pay legal and advisor fees to set up an equity release plan
- Early repayment charges can be significant.
- Other options may be more suitable such as downsizing, exploring local authority grants, a private family loan or taking in a lodger
At Alfred James we only recommend providers who subscribe to the Equity Release Council
Should after considering all the above advantages and disadvantages you would like more information regarding the plans available and your suitability please get in touch for a personal illustration free of any commitment.
I know how big a decision equity release is, which is why i'm with you every step of the way.
Having just turned 54 and close to accessing my pension I understand how years of careful saving into your plan may not have produced the desired savings pot you wished for. Releasing some of the stored value in your home may prove a wise choice once other measures have been discounted. For independent sincere and ethical advice regarding equity release please get in touch.
James Pedder BA(Hons) CeMAP CeRER
Principal Alfred James Financial Services.
To see whether equity release is a suitable option for you please get in touch
Access the Best Funding from the Whole of the Market
Equity release may involve a lifetime mortgage which is secured against your property or a home reversion plan which requires the sale of property for a discounted price. To understand the features and risks, ask for a personalised illustration. You only continue to own your own home with a lifetime mortgage.
Equity release may impact the size of your estate and it could affect your entitlement to current and future means-tested benefits.
Regulatory statement. James Pedder trading as Alfred James Financial Services, is an Appointed Representative of New Leaf Distribution Ltd which is authorised and regulated by the Financial Conduct Authority: FCA Number 460421
