EQUITY RELEASE STOCKPORT
LIFETIME MORTGAGE ADVICE STOCKPORT
The Mortgage hive offer tailored Equity Release mortgage advice to help you maximise your retirement.
Learn more about lifetime mortgages in Stockport and how to release equity from your property. We can help you obtain an equity release plan which enables you to get a tax-free lump sum to help you move into retirement.
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 Stockport 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 Stockport 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 Stockport, 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 Stockport 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 Stockport 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 Stockport 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 Stockport 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 Stockport 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 Stockport. 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 Stockport, 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 Stockport 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 Stockport, 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.
Lifetime Mortgages In Stockport
If you are looking for the most popular equity release plan, that would be the lifetime mortgage. This is where you retain complete property ownership and with most lenders have the option to make voluntary monthly payments.
The equity release loan and interest charged is repayable when you either move into long-term care or when you pass away. If you are a couple and have taken an equity release loan out together, the money will be due to be repaid once the remaining person passes or moves into long-term care.
Here in Stockport, we want the residents in the area to be comfortable and confident that they are safe in their homes for the rest of their lives; speaking to one of our later life advisors today means we can look at any existing mortgages you have, other assets and provide you with a personal service that can get you the best equity release loan for you.
Pros & Cons Of An Equity Release
Pros
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Keep your property
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Release money tax free for multiple purposes.
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No affordability check is done by lender
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Option to make voluntary payments or let interest compound up
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Interest Rate fixed for life.
Cons
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Equity release may affect your means tested benefits if you receive any
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You may pay an early repayment charge should you want to pay the debt off sooner.
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Interest Compounds up if you do not make payments
Equity Release Solutions In Stockport; 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 Stockport. We look forward to helping you secure your equity release product and are always happy to provide advice and direction.
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Our local Equity Release Advisers can help you throughout the UK including the following nearby locations with Equity Release advice; Manchester, Sale (Greater Manchester) , Altringham (Greater Manchester) , Warrington, Stockport,