Equity release allows individuals aged 55 and over to release money from the property they live in without having to make any monthly repayments.
There are two types of equity release; Lifetime Mortgages and Home Reversion Plans. Both of these are regulated by the Financial Conduct Authority (FCA). By using an equity release product, a home owner can draw a lump sum or regular smaller sums from the value of their home, while continuing to live there.
Equity release can play a crucial role in retirement funding. The flexibility and safeguards which are built into plans complying with the Equity Release Council product standards enabling thousands of home owners every year to tap safely in to their housing wealth without having to worry about making monthly repayments.
If you are thinking of taking out an equity release plan we will be happy to talk you through all of your options and fully weigh up the advantages and disadvantages. You will then be able to decide if equity release is right for you.
LDC are fully authorised by the FCA to give Equity Release advice.
“The historic reputation of Equity Release schemes filled me with fear, so I was very wary of going down this route to finance my later-life existence. I knew I had equity but I also had a duty to my children. In short, I had a life to live, but a legacy to leave. LDC understood my hopes and fears and set out a number of options. Decisions were only made once I had consulted my sons, after which LDC handled all the paperwork and the money came though. Everything was to my satisfaction.”