Equity Release
The ability to access capital held within your property can be crucial at any age, we’ll advise you on the right path for you.
Appointments to 9pm, Low or No Fees, with all Financial Advice services available in house.
What's On This Page?
Get In Touch
What we do
We’re able to receive enquiries on Equity Release, from our office in Canary Wharf, as this can be an important advice area for those reaching the latter stage of life’s financial cycles. Costs of Equity Release have been becoming more and more competitive over recent years compared to historical charging. Equity Release can enable a homeowner to raise financing on their home from the age of 55 without the need of income and expenditure affordability criteria. This can enable you to gift a home deposit for a family member, complete home improvements or alterations, seek specialist medical care, live out your retirement years comfortably or to avoid a potential future IHT liability.
How we do it
We primarily work on Equity Release through the use of another firm within our network, in doing this, we’re able to ensure your other financial matters are managed well but also having a large degree of control over how your equity release case is managed and how you are treated as our client. This allows you and us to split our time evenly across your Equity Release case, as this is time intensive, and all remaining financial matters with us directly at Open Financial Advice.
Why work with us
As we have the facility for this to be completed externally within our network, we can focus on all other financial areas while also being able to ensure that your Equity Release is offered with the best value in mind for you. This is in relation to the actual equity release product itself, how this is tailored to and fits your personal financial requirements, and in terms of negotiating overall implementation costs on your behalf. We are based in Canary Wharf in London but work with clients nationwide.
Speak To An Expert
We’re here to advise you in a holistic way to help you meet your goals now and in the future.
Lifetime Mortgage
This is regarded as the most widely used kind of equity release. This is a mortgage against your home that is not repaid until either death or when moving into residential care on a permanent basis. You can obtain a Lifetime Mortgage as a homeowner at age 55 though the younger at outset an individual is, the more costly Equity Release is likely to be in general and over the course of a mortgagers remaining lifespan. You can choose for the interest payable to be rolled up and paid for by equity, increasing the loan, or you or family members can service the interest directly.
Contact Us
Home Reversion Plan
Instead of a lifetime mortgage, there is the option to sell part or all of your home while you remain living within the property. Home Reversion is available to homeowners at age 60. This works by the reversion management company receiving a profit on the sale of your home in purchasing a share, or all, of the property at a reduced market value. As this can a full or percentage change in ownership, it can have implications for the overall estate and must be a very carefully considered option.
Equity release will reduce the value of your estate and can affect your eligibility for means tested benefits.
Home Reversion plans are more specialised Equity Release options and require detailed advice case by case, we do not directly advise upon Home Reversion but have close working relationships with those that do to ensure you receive full servicing in all required areas.
Equity release will reduce the value of your estate and can affect your eligibility for means tested benefits.
Home Reversion plans are more specialised Equity Release options and require detailed advice case by case, we do not directly advise upon Home Reversion but have close working relationships with those that do to ensure you receive full servicing in all required areas.