EQUITY RELEASE IN COLCHESTER, ESSEX

Equity Release is a financial opportunity for you to unlock the value of your property, turning it into a lump sum. You will not need to have a full paid mortgage to do this. Taking the decision to equity release your house should be taken into great consideration with financial advisors supporting your decision. 

 

Evaluate if you can downsize first, or if selling your house and moving is the right financial option for you. In addition, another option for you to consider is moving to a more suitable home to fit your lifestyle. If you’re unsure on the next financial move to take, our team will help you with your financial planning and home reversion plans. 

Top tips for equity release.

  • Seek the correct financial advice before you go through with it. It's important for you to understand the whole process and what you’re getting letting yourself in for. 

  • Equity release can affect your benefits, You will no longer be entitled to universal credit and pension credit. For further information seek financial advice to find out more. 

  • Don’t borrow the full amount all in one go, you need to make the right financial decision for yourself. Interest is high and it's important that you will be able to pay back what you owe.

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Who Is Entitled To Equity Release?

If you're looking to apply for an equity release scheme, you must be 60 or over for your application to be successful. There are many tax-free and flexible options for you to consider whilst applying for your equity release.

 

Equity release is an option to support you when you need financial security once you have retired. If you find that your pension doesn't cover the basic costs of your living, then this could be the right option for you. It’s important for you to take this into careful consideration and understand how equity release works. Talk to our team today, we’re here to financially advise you to the right option to suit you. 

EQUITY RELEASE OPTIONS

Home Reversion

This option requires you selling part of your home in return for a lump sum of cash. As part of the agreement, you have the right to carry on living in your home until you die with no cost of the rent. In return, you will have to maintain the property and ensure your home. In the vent of selling the property, your percentage will be shared with whomever you agreed to leave it to. For further information on mortgages and home, reversion talks to our equity release advisers today. 

Lifetime Mortgage

This option requires you to take out a mortgage for your home, whilst keeping ownership of the property. You will have the option to leave some of the value of your home as an inheritance to anyone of your choice. There is the option to make a regular payment or to allow the interest roll-up. From here the loan will be paid back once you have passed away and all interest is paid back. 

WINSTREE FINANCIAL SERVICES

Winstree Financial Services LTD. Authorised and regulated by the Financial Conduct Authority (FCA registration number 810624). Registered in England. Registration number 11232942. Registered office: Wellington House, 90/92 Butt Road, Colchester, Essex CO3 3DA.

We always aim to provide a high quality service to our customers. However, if you encounter any problems and we are unable to resolve them you can take your complaint to an independent Ombudsman. Our advice is covered under the Financial Ombudsman Service.

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