Equity Release allows you to access the cash (or equity) that is tied up in your home tax-free without needing to move from the property or downsize. There are a variety of plans available and it is becoming increasingly popular as a result of the financial freedom these plans offer. There are generally no monthly repayments and you won’t need to pay back the loan until you pass away or move.
There are a number of factors that will affect how much equity you could potentially release. The first is the age of the youngest homeowner. The second is the value of the property (the minimum property value to consider equity release is £70,000, and there is no maximum value). The third factor is the outstanding mortgage amount you owe. Any equity released needs to pay off any outstanding mortgage.
The most popular equity release plan is a lifetime mortgage, and this plan allows you to still own your home. You will own your home until you pass away or until you decide to move into a long-term care home.
No. Equity Release plans provide peace of mind and providers will offer a ‘no negative equity guarantee’. This means that you will never owe more than the value of your home, regardless of what happens to house prices.
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Whether you're buying your first house, remortgaging, moving house or investing in a buy-to-let property, we'll be able to find the right mortgage for your circumstances.
All Under One Roof
We are directly authorised and regulated by the Financial Conduct Authority (FCA) for General Insurance, Private Medical Insurance, Pure Protection, Equity Release and Mortgage business. You can check our details and regulatory permissions via the Financial Services Register at https://register.fca.org.uk/.Our FCA reference number is 845592. Haystoun Financial Services Ltd of 19D Eastgate, Peebles, EH45 8AD trades as a Limited Company. Our Company Number is: SC588219
Haystoun Financial & Property Services is a family run business based in Peebles in the Scottish Borders. We offer mortgage, insurance and protection advice services, as well as full letting agency services.
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