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You’ve worked hard for your estate.

Don't you want some control over what happens to it once you’re gone?

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How can we help your estate?

A tool for Inheritance Tax planning

Inheritance tax is a tax that is placed on the estate of an individual who has passed away, when the estate is worth over a certain value. How much is owed will depend on the value of the estate, and this is calculated on assets, including money in the bank, any investments, property, business, vehicles, and certain types of life insurance. Inheritance Tax planning can help you reduce the likelihood or amount of a tax being applied to your estate once you have passed away.

It is a complex area and if you are concerned that your estate is likely to be of a value where your estate may incur Inheritance Tax on your demise, you should seek advice from an Independent Financial Advisor (IFA). There are various tools that an IFA can use to help you manage your affairs, a Lifetime Mortgage might be one of these. For example, they may recommend gifting your children a ‘living inheritance’ now, so that you can see them enjoy the value in your estate. Our Equity Release Advisors work closely with IFAs with expertise in inheritance tax planning, so should you want an introduction – please get in touch.

Wills

It’s a good idea to have a Will. It can set out what you want to happen on your death and ensure your affairs are dealt with in accordance with your wishes. People tend to put off getting one, or updating the one they have. This is an ideal time to get a will or update your current one.

Our advisors can introduce you to qualified Will Advisors or Estate Planners in your area.

Lasting Powers of Attorney

To many of our clients, these feel more important than their will, as Lasting Power’s of Attorney help ensure you are looked after in the way you wish whilst you are alive, but not able to make certain decisions for yourself. Given the increase in Alzheimer’s and dementia sufferers over the last two decades, its really important that older people put something in place now.  The LPA will only be activated when your Doctor assesses you are unable to make these decisions yourself. 

There are two types of Last Power of Attorney, Property and Financial Affairs, as well as Health and Welfare. Our advisors will typically recommend you put these in place if you haven’t already. It is often done at the same time as writing or updating a Will and you can use money from equity release to do so.

If you would like advice in one of these areas, then call us or contact us using on the form provided and we’ll make sure a suitably qualified and experienced advisor comes back to you.

The process is simple.

Whether you are looking to release equity in your home to pay off a mortgage or raise additional funds, discuss your estate planning concerns with a professional or re-mortgage your property, get in touch with us today.

One of our expert Equity Release qualified Mortgage Advisors will contact you for an initial chat. If suitable, they will visit you in person and review your situation in detail so that they can provide you with up-to-date advice and guidance.

Let us get on with the challenging work of finding you a broker who will be able to meet your needs in a conscientious and supportive way. Our professional team will keep you updated at every point in the journey.

Equity Release and care costs

When considering the cost of care for older people, equity release can help in two ways. 

Money released from your property can be used to pay for a carer coming to visit the property – perhaps to make food or support with some daily activity living, including personal care and dressing. 

When a property has equity release taken out, a charge is put against the property on the Land Registery and no further charges are allowed. That means that a local authority care provider cannot consider the property as ‘capital’ and therefore cannot put a charge against it for their services.* In the event of a couple, where the first person needs Local Authority care, this could save their estate a considerable sum. 

For more information on this, or other hidden benefits of equity release, please get in touch with an advisor today. 

*NB.  Rules on the financing of care can change from time-to-time and up-to-date advice should be sought from a suitably qualified source.

What our clients say

1ST Class service. You were recommended by my mortgage adviser and you’ve been great. Your adviser helped me get equity release finance in place so that I could purchase my retirement property. Re-assuring the estate agent and my vendor that I was in a position to buy immediately meant I was able to secure the property and get it taken off the market. Your adviser helped me get a lower rate when they came down, and they were always available to answer calls and emails. Thanks a million.
(December 2023)
MartinSouth West London
I wish I’d met your adviser a year earlier, they made the process so simple. I have already thanked them for all their hard work. It’s been a real pleasure doing business with them and I’m sad we won’t be in regular contact when this is all over.
(December 2023)
AndreaYorkshire
I’m really pleased with the advice provided to my mum. We were both a little apprehensive whilst investigating. We approached five different advisers. But your advisor took us through everything really easily during our meetings and was willing to meet at the weekend. My mum was very pleased with how it all went and now has the finances she needs to make home improvements and live life in more comfort. We will recommend to friends.
(Oct 2023)
Paul West London
Your advisor has been brilliant. He’s helped me release money to make the changes I need to my home, and to help family. Finances used to be dealt with by my husband and the activity was a little daunting at first. But my questions were always answered and I was supported throughout. My son was included in the activity and his views taken into account too. The adviser was excellent. I can’t recommend your service highly enough.
(Aug 2023)
ChristaNorth London
The advisor has a vast amount of knowledge and was able to discuss all of the various products to allow me to make an informed decision. He was very professional, warm, friendly and helpful. He was very easy to deal with and kept me informed throughout the process. Both my daughter and myself enjoyed working with Anthony. I highly recommend.
(June 2023)
Mrs Perry Surrey
We were given your details via a third party and assured that we would be in good hands. We were indeed! From the initial meeting to the completion, the advisor was very professional but with a light-hearted upbeat attitude that gave us confidence in his knowledge. He was always contactable which was very good and he even arranged a Zoom meeting with the family members to explain everything to them in detail. The unknown precarious territory of E.R. was made clearer and accessible with this guidance… It is also very good that he has said we can contact him about any queries in the future and not just dump us now that the ER has been sorted. That shows a commitment to your profession and a genuine feeling you want to help clients…
(May 2023)
Sarah & RodneyKent
I was a Financial Adviser for 45 years and retired last year. In all that time I have rarely come across a more diligent, trustworthy and caring individual. Your advisor delivered after I had been let down by another adviser. He is a thorough professional – I cannot recommend him highly enough.
(Jan 2023)
Bob W Surrey
Your adviser has to be the most conscientious and diligent financial advisor I've ever come across. He was amazing in helping my mother and ensuring compliance and standards were met at every stage. He also got her the best deal possible. Very knowledgeable and experienced in his field. Would highly recommend.
(October 2022)
Marie L Surrey
My wife and I were extremely impressed with the service we received. We were able to raise enough money to refinance our interest only mortgage – despite our unusual property type. It was a pleasure working with the adviser and we have already recommended to friends.
(April 2022)
Julian Somerset
Brilliant service! I received a down-valuation via another company and was not able to borrow enough money to pay off my mortgage. Through your adviser’s knowledge, I was able to get the valuation I needed to raise enough funds to re-finance my home. The advisor was knowledgeable and in control of the process throughout. 5 stars.
(April 2022)
TonyCornwall
Your adviser was recommended by my IFA and I’ve been really impressed. They were very knowledgeable and helped me through the process with ease. I appreciated them meeting me twice to ensure my understanding. I’m really happy with the outcome and am confident that I have done the right thing which makes me feel great. Will be recommending to friends.
(November 2021)
DeborahCentral London
We were delighted with the service we received and the outcome. We were able to refinance our family home and at a rate lower than expected. Your advisor met us a number of times to ensure our understanding and their guidance was excellent. They really understand their industry and able to ensure that our application proceeded in time to achieve our goals, despite challenges like family LPA’s and valuation issues. We can’t recommend highly enough!
(October 2021)
Mr & Mrs Laskar Hertfordshire
Great service. Really pleased with the service I received. It’s taken a lot of stress off my shoulders (and my sons) and I know I’ve done the right thing. Your adviser has really given me peace of mind. Thank you.
(August 2021)
KathyBuckinghamshire
Your adviser made me feel comfortable from the start, explained everything in clear English and constantly re-assured me. He even helped me understand my benefit entitlement. I’m really pleased with the advice and highly recommend.
(September 2021)
AnnHertfordshire
I can’t thank your adviser enough. I was racing against repossession, and he was able to take action very quickly to get me an equity release loan. It paid off my interest only mortgage which means I can keep living in my home. I am making regular payments to keep the interest down and am elated with the outcome.
(July 2022)
NinaNorth London
We were really relieved when your adviser helped us get equity release on our property. It’s really helped us consolidate debts and make home improvements at a difficult time in our lives. Your adviser was knowledgeable and patient with us and was always willing to have a chat and answer our questions. Thank you.
(December 2020)
JaniceEssex
The adviser was fantastic. He helped us release enough money to gift to one of our children so that they could extend their family home. He helped us understand our position with regards to inheritance tax and was a pleasure to work with.
(November 2020)
Mr & Mrs Murphy North London
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Frequently asked questions

Equity release is the process of letting homeowners aged 55 and over release tax-free cash from their homes. The amount available will depend on the home’s worth and your age.   The most common form of equity release is called a ‘Lifetime Mortgage.’

With a Lifetime Mortgage – you will continue to own your property and have the right to live there for life (or upon movement into long term care.)

There is an older form of equity release called a ‘Home Reversion Plan’ which can require the applicant to sell ownership of their property to the lender.  These plans represent around 2% of plans in the industry and historically have given the sector a bad name. Any advisor we recommend to you will be a trained expert, supported by compliance departments ensuring an excellent quality of advice. They are highly unlikely to recommend this solution to you as it is only suitable in very limited circumstances.

Any firm that is advising or selling equity release products must be regulated by the Financial Conduct Authority (FCA). This protects clients and provides them access to the financial service compensation scheme should they ever need it.    When looking for equity release advice, it’s recommended that you seek advice from a qualified advisor who is registered with the Equity Release Council.

Equity release is a complex area and the Financial Conduct Authority have stipulated that people must get independent advice. Equity Release isn’t right for everybody and there may be better solutions out there that customers are not aware of. Advisors will review other options alongside equity release to consider which is most appropriate.

Lenders cannot ‘sell’ plans to you directly – although can introduce you to ‘tied agents.’ We recommend you speak to an advisor with access to the Whole of Market, so that they can consider plans from a broad range of providers.

Equity release funds typically come from pension providers, some of which you’ll have heard of, like Aviva and Legal and General, and other’s that you probably won’t know. Expert advisors will use industry leading sourcing tools to review the most suitable products for you from the whole of market.

In short, the older you are, the more you can borrow as a percentage of the value of your home. The product rates themselves are Fixed for life on the initial lump sum. Product rates are more closely linked with government backed 15 Year GILT rates than they are the Bank of England base rate. Speak to an advisor to find out why.

Visit our Calculator here

Loan amounts will vary depending on your age, health and value of your property. Lenders calculate the maximum loan compared to the value of your property and express this as a percentage, referred to as Loan to Value (LTV.) They will often lend slightly less on flats.

In general, the older you are, the more you can borrow as a percentage of the value of your property (the higher the LTV.)

If you have any adverse health conditions, eg High Blood Pressure, Type 2 diabetes or more serious conditions like a history of heart problems or cancer, this may increase the loan amount available to you with some lenders.

Lenders have been known to change the Maximum Loan to value (LTV) quite frequently. Our tool is updated regularly, however for an accurate indication of the maximum loan available to you it’s best to speak to a qualified advisor, who can often give you an initial indication of live LTVs and rates over the phone within a few minutes. They will apply caveat’s around this, but atleast you’ll be better informed than just putting some figures in an online calculator!

 

1. Property or Construction Type

Properties of non-standard construction are often hard to secure a loan on. Some flats and listed buildings may also be more difficult to borrow against as can be properties with more than one kitchen, or a second dwelling on the grounds with separate utility bills. Some lenders are more flexible than others though, so just because one has said no, it doesn’t mean all the others will.

2. Location

Properties adjacent or opposite to commercial buildings may not be acceptable. Those in high flood risk zones or close to a railway line may also be more difficult to borrow against.

3. Spray Foam insulation

Properties with spray foam insulation in the loft can be undesirable to lend money on. There are at times lenders willing and able to lend on a property with spray foam, although it may depend on the type of spray foam insulation used. These products may also be at higher rates. For more information speak with an advisor

4. Clutter

A lender’s surveyor needs to be able to visit the property and access each room. If a room is full of clutter it may prevent a valid valuation survey.

Maybe. If you already have a Lifetime Mortgage and are unhappy with the product rate, or want to borrow additional funds beyond your current facility, it may be possible to re-finance you existing equity release mortgage. However, with some plans, Early Repayment Charges may be payable.

For some people it may make sense to pay an Early Repayment Charge and refinance, whilst for others it won’t.

An expert advisor will help you understand what’s possible in your situation and provide the most appropriate advice for you.

Most plans will allow you to port or transfer the lifetime mortgage to a new property (if suitable.) Some will have some form of ‘downsizing protection’ built in. The level of flexibility between different providers and their plans can vary significantly and by talking through your preferences with an advisor, they can help recommend the most appropriate plan for you.

A Lifetime mortgage would not be suitable if:

  • You do not own our own home
  • One of the owners is below the age of 55
  • Your home is not considered suitable collateral to the lender. For example, it may be located near an electricity pylon, in a high flood risk area or of a non-standard construction type.
  • You are not prepared to have a debt secured against your home.

Some people may not be able to borrow a sufficient sum to meet their needs. It will depend on their age, the value of their home and the sum required.

If the interest on a lifetime mortgage is not serviced, it can build-up (compound) over time and significantly erode the equity in your estate.  Make sure you understand the nature of compound interest when you speak with an equity release advisor and if unsure, ask them to explain it to you.

Equity release isn’t right for everyone.

There may be a range of more suitable options for you.
An expert advisor will help you understand what other options are out there that may be better for you.

Get In Touch

Equity Release may impact the size of your estate and it could affect your entitlement to current and future means tested benefits.

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Equity release may involve a lifetime mortgage or a home reversion plan. To understand the features and risks, ask for a personalised illustration. 
Equity release may impact the size of your estate and it could affect your entitlement to current and future means-tested benefits.