EQUITY RELEASE SHANKLIN
LIFETIME MORTGAGE ADVICE SHANKLIN
At the Mortgage Hive, though out Shanklin we help people with specialist advice in Equity Release Mortgages. Our tailored advice will help you get the most out of your retirement. Contact us to learn more about lifetime mortgages in Shanklin and get guidance on how you can release funds from your property. We can assist you in setting up an equity release plan (Lifetime Mortgage or Home Reversion Plan) matched to your circumstances, whilst comparing to alternative retirement mortgage options.
Equity Release Mortgages
Have you thought about your equity release options? Want to know if you can release cash funds from your property? At the Mortgage Hive our knowledgeable equity release advisers service Shanklin and the surrounding areas. If you have questions about equity release, contact our staff immediately.
Suppose you wish to take a trip and travel the world, give a family member a monetary gift, or even transform your garden into a peaceful retreat. In that case, releasing money tied up in your property via an equity release product may be appropriate. We can determine the optimum equity release plan for you. We can help you get the urgent financial relief you need through equity release. Our Shanklin Equity release broker will look at all options, Lifetime mortgages, Home Reversions plans and other Later Life mortgages such as Retirement Interest Only Mortgages (RIO).
Thanks to the hundreds of clients we have assisted thought-out the United Kingdom not just Shanklin, financial freedom is just around the corner! Thanks to our knowledge of the equity release market, our guidance will help you access any money tied up in your property.
Get in touch with our experts to learn more about our equity release mortgage services in Shanklin and the surrounding areas.
What Is Equity Release?
With the help of equity release products, you are able to withdraw money secured by your property as a tax free lump sum payment. With some of these products, you can opt to have a facility for further drawdowns. You do not have to make monthly interest payments. However, a lot of products do allow voluntary payments. The benefit of this is that the interest on your equity release loan wont compound up.
Everybody's future needs financial planning, so if you're ready to receive equity release guidance, get in touch with our team at The Mortgage Hive immediately. Depending on your house's value, age, and current health, we can determine the most appropriate lifetime mortgage for you.
A member of the Equity Release Council .
We are a proud member of the equity release council and have abide by the Council rules and Statement of Principles.
Here at The Mortgage Hive, we only offer advice on products from lenders that are also members and agree to the Equity Release Council standards and principles. Hence they all offer a no negative equity guarantee; speak to our specialists today.
Do I Pay Interest On An Equity Release?
Although housing prices in Shanklin are prone to swings due to the city's rising popularity and the number of people trying to move into the city, your lifetime mortgage interest rate is often fixed for life.
When taking out an equity release in Shanklin or any other area of the UK you often have the option to make voluntary payments. If you choose not too the interest will roll up (compounded) over the years and could lead significantly to more increased debt.
Here at The Mortgage Hive, we have the experience and understanding necessary to offer advice source the best equity release product for your circumstances. Our team will make sure you understand the process in its entirety, once the most suited equity release product is sourced we will offer a personalised illustration to explain the interest rates, costs, advantages and disadvantages of the recommendation, before we submit your equity release application.
Equity Release Mortgage & Lifetime Mortgages In Shanklin
In Shanklin 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 Shanklin 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 Shanklin wants the locals to feel safe secure in their home for the rest of their lives. Whether you live in the central Shanklin or across the suburbs of Shanklin, 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 Shanklin; Call The Mortgage Hive Today
Due to our experience we will be able to look at multiple equity release options, as well as more traditional retirement mortgages to find the best solution tailored for you. We will always give you sound, friendly, and expert advice that is up to date with the current market. So, please pick up the phone and call one of our equity release specialists if you have any questions or concerns about equity release in Shanklin. We look forward to helping you secure your equity release product and are always happy to provide advice and direction.
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.