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Our Services

For equity release and lifetime mortgages in Buckinghamshire we will guide you through the process, step by step.

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Equity Release & Lifetime Mortgages Buckinghamshire

A free, no obligation initial conversation to provide you with information and to establish whether we are able to help given your individual circumstances.

Equity Release – What options do you have?

There are two types of equity release plan:

Lifetime Mortgage

A lifetime mortgage is secured against your home like a normal mortgage, but you don’t usually need to make payments, Instead, interest on the mortgage gets rolled up and added onto the balance although voluntary partial or full interest payments can be possible if you want to make them.

Home Reversion

A home reversion plan involves selling all or part of your home to the provider for a lump sum. There is no interest or rent to pay to the provider. With both plans, you retain the right to live in your home until you die or leave the home permanently. If you take the plan out jointly, the plan will run until you both die or leave the home.

Frequently Asked Questions

Will I still own my home?

This depends on the type of arrangement and if this is a priority for you, we will arrange an option to achieve it.

With Lifetime Mortgages, you retain full ownership of your home. However, as any unpaid interest is added to the balance, the equity in your property can be eroded away. This can be overcome by making full or partial interest payments. Some providers have the option to make monthly payments built in, and others allow you to pay 10% of the balance annually (either bit by bit or with a lump sum) which results in more equity remaining in the property when the mortgage finishes. The providers we use provide a ‘no negative equity guarantee’ which means the debt will never exceed the sale price of your property.

With home reversion plans, you sell all or part of your home to the provider, depending on the amount you need to release. If you sell a percentage of your home, you will always legally own the percentage you did not sell. This means that the percentage you still own will form part of your estate when the property is sold.

What are the risks?

It is very important you understand how equity release works and the risks involved.

  • There is no tax to pay on the money you release, but it may affect your entitlement to certain benefits.
  • The amount released may not reflect your property’s market value.
  • It may seriously affect the choices you have available to you in future years so consideration of your potential situation is 10, 15 or 20+ years’ time is advisable.
  • Unpaid interest is rolled up and added to the mortgages outstanding balance so this will reduce the equity in the property and therefore affect the legacy you are able to leave. For this reason, we always suggest you have discussions with your beneficiaries so they know you are considering equity release and, better still, involve them in your advice process.

We are here to support you with any information you may need and we welcome your questions so please get in touch.

How much will Equity Release cost?

We do not charge any fees for our Equity Release advice or application processing. This includes sourcing the most suitable plan for you and, as we are independent, we will look at all providers to find it. The provider pays us a procuration fee for our service to them.

Some providers may charge a fee for their particular product and some may charge a valuation fee but we will explain if such fees apply to you before an application is made. Often providers have products with no fees and/or if fees do apply, they can potentially be added to the loan.

You will need a solicitor to act on your behalf when you take out an equity release product and not all solicitors have a department that specialise in this area. We work with national legal firms who can act for you so we can help you choose a firm should you need us to. Your typical fees for the legal work are around £800 so bear this cost in mind when choosing the borrowing amount.