Equity Release
Cash Poor… equity rich! Equity release is available for anybody aged 55 or over, who owns their own UK home and who wishes to release equity from their house with a loan that could provide finances to help family members, make home improvements, buy a second home, repay debt or just because you want a better standard of living..
How does it work?
You do not make monthly payments, as with a mortgage, although you can select a repayment option if you so wish, but the interest is cumulatively added to the loan balance until it is repaid… usually when you die or if you require long term care.
All credible schemes guarantee the accumulative loan balance will never exceed the value of your property.
Equity release has received some negative press coverage over recent years, but this was due to historical, old-style schemes that existed particularly in the 1990’s which were not good value for money or properly regulated by the industry regulator at the time. This has now changed and now equity release is an appropriately regulated contract, with providers and advisers who operate in this field providing and benefiting you with higher standards.
Equity Release Council
PIL are members of the Equity Release Council and therefore are qualified and accredited advisers who fully understand the complexities and pitfalls of releasing equity from your home.
There are now over 300 products available in the equity release arena and our advisers will take the time to consider your whole financial and family situation, assess your needs and objectives then narrow down the products to ones that are best suited to you . We will not hesitate to advise about alternative solutions if they are more suitable or appropriate.
Equity release can be a life changing experience and enable you to have a much better quality of life in your latter years but it is also daunting. Our advisers are here to help guide you through the maze so you and perhaps your family can make an informed decision.
