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Equity Release
maureen60
Posts: 1 Newbie
Does anyone know of any good companies that offer Equity Release.
0
Comments
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Hi Maureen & welcome,
Good companies who offer equity release are members of SHIPS - Safe Home Income Plans and their website is:
http://www.ship-ltd.org/
There are also 2 factsheets which may assist at:
https://www.helptheaged.org.uk/Money/Investments/equityrelease/default.htm
and
https://www.ageconcern.org/AgeConcern/Documents/FS12_0605.pdf
HTH.0 -
Look for as low an interest rate as possible and a "drawdown" facility so you take money when you need it, not all up front.Also check for low redemption penalties, as you may wish to "remortgage" your equity release plan later as plans with better terms come on the market.Trying to keep it simple...
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Also check how it will impact on pension credit and personal allowance restrictions. Sometimes releasing too much for income can result in lose of benefits/credits/allowances.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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