Equity release is a way for older homeowners to access some of the money (the equity) that is within the value of their home.
If you are over the age of 55 and a homeowner, you are probably eligible to take out an equity release plan. The money you release is yours to spend on what you want. Popular choices are home improvements, repaying debts, helping children on to the property ladder or simply enjoying later life.
The commonly asked questions about equity release
Yes, with an equity release plan, you’ll still own your home and can stay in it for as long as you want to.
Is it possible to fall into negative equity?
Not with the plans that meet the Equity Release Council standards and come with the no-negative equity guarantee, meaning you’ll never owe more than your home’s worth (which are the only plans we deal with).
Yes you can. Equity Release Council plans can be transferred to a new home, subject to meeting the plan criteria
You will need to appoint an independent solicitor to complete the legal side of the process to give you and your family peace of mind.
You can use it in a wide variety of ways – but think carefully about how much you need to borrow.
Yes, you can. Some of our plans guarantee a set percentage of your home’s value, at the time your plan ends, will be retained.
Yes, however, you will need to repay the mortgage using the money released. Any funds left over belong to you.
Your home will be sold once you and your partner have died. The sale proceeds will be used to repay the amount you owe and any money left will go to your estate.
Your property will be valued by an independent RICS registered surveyor so you can be confident of an unbiased opinion of your property’s worth.
The money you release is tax free, and clients use it for a variety of things, such as travel, home improvements, and paying off their existing mortgage
I am CEMAP qualified and I been estabished in the mortgage and finance industry since 2007. I offer remortgage advice from the whole of market, including the high street lenders to the small building society’s and niche mortgage providers. If you have credit issues, defaults or a challenging financial history, don’t worry there will be a solution for your problem.
We can have a quick informal chat about your current situation to see if I can help.
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YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE