Equity Release Mortgage Brokers
Equity Release Brokers
Welcome to Jones and Young, your dedicated specialists in the intricate world of equity-release mortgages. With years of combined experience, we are here to guide you through the process, making it easy to unlock the value of your property and release equity at a rate that works for you. We’ll provide tailored solutions that meet your financial needs and life goals. Get in touch with us today for more information!
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Industry-Leading Equity Release Brokers
Here are Jones and Young, we’re proud to be industry-leading equity release brokers. With years of experience in the field, we offer our clients professional, transparent, and personalised services. Our goal is to help you unlock the financial potential of your property, enabling you to enhance your lifestyle or meet necessary expenses without compromising your home’s ownership.
We understand that equity release is a significant decision, and we are dedicated to providing you with the guidance and expertise you need. All of our lenders are members of the Equity Release Council, so you can trust the reputability of our lifetime mortgages. With a strong track record and a team of skilled experts, Jones and Young are committed to understanding your needs, guiding you through your options, and helping you make the right financial decisions for your future.
Whether you’re considering a Lifetime Mortgage or a Home Reversion Plan, we can ensure you get the best deal possible while maintaining the utmost respect for your home and financial well-being.
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The Types Of Equity Release Mortgages
When you release equity from a property, there are two types of mortgage available; let’s take a look at them in more detail:
This is the most common form of equity release. A homeowner borrows money against the value of their home, which is then repaid when they die or move into long-term care. The homeowner continues to own their home until they pass away. The amount you can borrow usually depends on your age, the value of your home and the lender’s specific policies.
Some plans offer an “interest payment” option which allows you to pay all or some of the interest, reducing the impact on the loan amount. This can be an excellent way to manage your equity release plans without worrying about interest increasing rapidly.
This equity release plan involves selling all, or parts, of your home to a home reversion provider for less than the market value. You can then live in your home rent-free for the rest of your life. However, you’re also responsible for maintaining and insuring it. If you only sell a portion of the property, the percentage of your home that you have not sold remains the same regardless of changes in property values unless you decide to take further cash releases. At the end of the plan, your property is sold, and the sale proceeds are shared according to the remaining proportions of ownership.
As specialist mortgage brokers, we have access to a wide range of equity release companies to get the best deal for our customers. As brokers, it’s our job to help explain your options, guide you through the process and take the stress out of equity release.
If you’re interested in an equity release loan, please contact our friendly customer service team today. We’ll be more than happy to answer any questions you may have and book you in for a consultation.
Do I Qualify For Equity Release?
Are you wondering if you qualify for equity release? Let us guide you through the eligibility criteria that equity release providers will look at:
Firstly, you must be at least 55, as all equity release lenders have this as the minimum age requirement. Secondly, the property from which you wish to release equity must be your main residence located in the UK. It also needs to be in good condition, as the property’s condition and market value are significant factors in determining the amount of equity you can release. Lastly, any existing mortgage or secured loan on your property must be repaid before or by taking out an equity release plan.
It’s important to remember that individual lenders may have their specific criteria, so it’s always a good idea to seek advice from an expert. As equity release specialists, we’re here to help you navigate the process and ensure you make the right decision for your financial future.
Building Your Brighter Future
Get Started with Your Equity Release Journey
Take the first step towards securing your financial future. Equity release is more than just accessing the wealth tied up in your home; it’s an avenue for creating a financially secure and brighter future for yourself and your family.
Taking the first step in this journey is straightforward. Our dedicated team will guide you through every step of the process. From understanding the intricacies of equity release to assessing your eligibility and making a well-informed decision, we are here to provide assistance tailored to your unique circumstances and financial objectives. Whether you want to live in your property rent-free, or want a lump sum to give to your loved ones, we can help.
So, what do you need to do? Simply reach out to us to begin the process. We’ll help you secure the funds you need to enhance your lifestyle, provide financial support, or to finally book that dream holiday. Your brighter future is just a call away.
Clear and concise advice exploring the best life mortgage options for your needs.
Helping customers cut through the jargon so that they understand things their way.
Taking a mortgage later in life can be costly if it isn't right. Our expert advisors will help you find the right mortgage to suit your budget.
At Jones & Young, we have access to bespoke and exclusive interest rates that will save you money in the long term.
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Equity Release Mortgages FAQs:
We’ve done our best to try and answer some of the most frequently asked questions about an equity release mortgage below:
Equity release is a way for homeowners to unlock some of their property value through a tax-free lump sum. If you’ve wanted to help out with payments, or support your loved ones with some extra income, equity release could be the perfect solution. Find our more in our all in guide on how equity release works?
While it’s not a legal requirement to use a broker for equity release, it can be highly beneficial. Equity release is a complex product with long-term implications, so it’s important to ensure you understand all aspects of the process. A broker can provide specialist advice on equity release loans, help you compare different equity release plans, and ensure that you choose the most suitable option for your circumstances.
Speaking with a specialist equity release adviser or mortgage broker is often the best option when considering equity release. They can guide you through the process, explaining the benefits and risks of different types of equity release schemes, and help you understand whether equity release is the right choice for you based on your circumstances.
Yes, you can sell your house even if you have an equity release. However, the equity release loan would need to be repaid from the proceeds of the sale. If the property is sold for more than the outstanding loan and interest, the remaining money will go to you or your estate. If you have a home reversion plan, you can only sell the portion of the property that you still own.
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