EQUITY RELEASE RINGWOOD
LIFETIME MORTGAGE ADVICE RINGWOOD
If you are looking for advice in a variety of equity-release mortgages options to help you make the most of your retirement, you have come to the right place. The Mortgage Hive are an equity release specialist offering advice in equity release schemes such as Lifetime Mortgage & Home Reversion plans alongside other later life lending options such as Retirement Interest Only Mortgages (RIO) . If you are considering Releasing equity tax free in your property and want to learn more about equity release products in Ringwood, get in touch with one of our later life lending consultants today!
Equity Release Mortgages & Lifetime Mortgages
Have you given equity release options any thought? Would you like to release some money from your property? We are Ringwood equity release advisers and we serve the surrounding areas. Contact our team immediately if you want to learn more about equity release options.
Equity release if used for many purposes such as:. Giving a family member a cash gift, home improvements, paying off existing mortgage/loans. Whatever the reason we can help find the best equity release solution for you.
We can assist you in obtaining the immediate financial support you require through an equity release product, such as a lifetime mortgage or home reversion plan. Contact one of our later life lending specialists today.
Financial freedom is just around the corner, we have helped many clients here in Ringwood. Therefore, if you are over 55, an equity release product/solution could allow you to access any money held in your property tax free.
Contact our specialists at this time to learn more about our equity release mortgage services in Ringwood and the surrounding areas.
What Is Equity Release?
Once you are over the age of 55, it is possible to take lump sum payment of tax free money secured by your Ringwood property with the aid of equity release. You can choose to release the equity in one lump sum, or opt to have a facility to draw down further funds when required. In contrast to a traditional mortgage, you don't need to make monthly payments to a lender, making payments with some equity release schemes is voluntary. Many clients opt to make voluntary payments hence treating the loan like a conventional mortgage to stop the interest from compounding up. Working with a reliable equity release specialist in Ringwood can give you peace of mind that your individual circumstances are catered for?
Everyone's future requires financial planning, so contact our team at The Mortgage Hive today if you would like further information. We can establish the best Ringwood lifetime mortgage for you based on your age, health, and the home's value.
Proud Member of the Equity Release Council
The Mortgage Hive along with the Equity Release providers we use, are members of the Equity Release council.
All Equity Release council members need to abide by the councils standard and principles, such as making sure that all their products have a no negative equity guarantee.
Do I Pay Interest On An Equity Release?
You will be required to pay interest on equity release lifetime mortgages. However, with most products the interest rates are fixed for life when you receive the money, so they won't alter even if the value of your property does.
Although Ringwood is becoming an increasingly popular place to live and house prices frequently fluctuate, with equity release, your interest rate won't alter. Your interest rates can be fixed for life.
The monthly interest rates need to be discussed with your equity release expert in Ringwood. They will create a personalised illustration from the equity release provider and explain all the costs. They will highlight and explain to you why its the most suited equity release plan for your circumstances.
With a Lifetime Mortgage in Ringwood, you will have Interest to pay. However with most providers you have an options to make voluntary payments, to stop the interest from compound up. If you choose not to make payments, the Equity you initially released from your Ringwood home plus any interest that has been added will need to paid back if you enter long term care or pass away.
Our equity release brokers in Ringwood, have the expertise and knowledge needed to provide you with impartial whole of the market equity release advice and guidance. Our experienced consultants will ensure you completely understand the procedure.
Equity Release Mortgage & Lifetime Mortgages In Ringwood
In Ringwood a lifetime mortgage would be the most popular option if you were looking for equity release. In this case, you still own the entire property, where as in home reversion plan you sell your property and become a lifelong rent free tenant.
With a lifetime mortgage the equity release loan secured on your Ringwood home must be paid back with any accrued interest either when you enter long-term care or when you pass away.
By speaking with one of our later life experts right away, we'll be able to give you the most appropriate service that can help you secure the best equity release loan possible.
Our team here in Ringwood wants the locals to feel safe secure in their home for the rest of their lives. Whether you live in the central Ringwood or across the suburbs of Ringwood, we can help you release equity release questions.
Pros & Cons Of An Equity Release
Pros
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You can keep your existing property
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No affordability checks by lender
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Option to make voluntary payments or let interest compound up
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Interest Rates can be fixed for Life
Cons
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Equity release can affect means-tested benefits.
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You may pay an early repayment charge should you wish to pay the debt off sooner.
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Interest Compounds up if you choose not to make payments.
Equity Release Solutions In Ringwood; Call The Mortgage Hive Today
Our team of equity release experts in Ringwood have been providing clients with the best equity solutions. We will always offer you practical, friendly and responsive advice that is up-to-date with any changes to the market. Our team will always have your best interests in mind.
So, if you have any questions or queries regarding equity release in Ringwood, please pick up the phone and speak to one of our experts today. We are always happy to offer advice and guidance to secure the best equity release product for you.
Get more out of your retirement in Ringwood with equity release today.
Our local Equity Release Advisers can help you throughout the UK including the following nearby locations with Equity Release advice; Bournemouth, Poole, Christchurch, Wimborne Minster, Blandford, Swanage, Ferndown, Ringwood, Verwood, Wareham, Highcliffe, New Milton, Lymington, Fordingbridge, Salisbury.