Have you considered how you will manage your finances in future? Are you anticipating having to sell your home and downsize when you retire? There may be other options. MB Later Life Planning – a subsidiary company of MB Associates – offers a range of options for later life borrowing. You may be able to unlock equity in your property to prevent you from having to sell up. We understand that you may have lived in your existing home for many years, and made lots of memories. Quite simply you may not want to endure the upheaval of moving.
Access to equity
Equity release is a scheme that enables you to access some of the equity within the value of your home. You can spend the money on anything you want and either receive the funds in one go or draw regular amounts to assist with the cost of living, enabling you to enjoy a better quality of life.
To apply for equity release, you must be aged 55, a UK resident and a homeowner. Your property must be worth a minimum of £70,000. You could borrow between five to 55 per cent of the value of your home. There is a limit on how much you can borrow, depending on your age, health and lifestyle.
Competitive rates and regulated schemes
Equity release schemes are increasing in popularity, with interest rates significantly lower now than in the past. Schemes are more flexible and there is a ‘no negative equity’ guarantee, which means that if the value of your property falls below the amount you have borrowed, your loved ones won’t have to make up the shortfall when you pass away. All schemes are regulated by the Financial Conduct Authority.
Why consider an equity release scheme?
There are various reasons why you may wish to find out if equity release is right for you and your personal situation. You may not want to sell your home, or you may wish to boost your disposable income in retirement. Other reasons may include paying for home improvements, going on the holiday of a lifetime or giving a lump sum to your children towards the purchase of their own properties.
Find out more about equity release
If you are interested in finding out more about equity release or other forms of later life borrowing, please get in touch with us and we will be glad to help. MB Later Life Planning has equity release specialists who can provide a free, no-obligation consultation to help you find out if equity release is right for you. Rest assured we will always seek to provide a specialist solution based on your individual circumstances and needs.
For more information, please call Leslie Morris at MB Later Life Planning today on 020 8652 5240 or email her at firstname.lastname@example.org
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MB Later Life Planning Ltd is an appointed representative of Key Retirement Solutions, which is authorised and regulated by the Financial Conduct Authority.
Key Retirement Solutions is entered on the Financial Services Register (www.fca.org.uk/register) under reference number 224987.
Company number 02457440.
MB Later Life is Planning Ltd is registered in England and Wales.
The information contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.