Step 1 - Do you qualify?
You and your partner must be aged 55 or more. Your property must be worth at least £70,000 and you must be able to clear any outstanding mortgage or loan secured on the property from the funds you release. We can confirm whether you qualify by booking an appointment
Step 2 - Is equity release the right option for you?
Contact Mortgage and Protection Advice Centre on 01243 265413 or 07590 691 119 or email mattryder@mapacentre.co.uk for specialist independent advice. We will tell you more about equity release and if it is suitable for your circumstances. We can also provide you with a free, no-obligation quotation, researching the whole of the market to find the plan that best suits your requirements - only then can you make an informed decision on whether equity release is the right option for you. We always recommend that you discuss your plans for equity release with your family.
Step 3 - Complete application forms and paperwork
If you choose to proceed, we will complete your application forms for your chosen plan and a suitably qualified valuer is instructed by the plan provider to ascertain the value of your property and ensure it meets their criteria. An offer is made and your solicitors are instructed to start work.
Step 4 - Receive your cash
Approx' between 8 to 12 weeks after applying, you will receive your funds from your solicitor.
This is a Lifetime Mortgage. These are only applicable to those 55 and over, and it could affect eligibility to state means-tested benefits and the inheritance you may leave. To understand the features and risks, ask for a personalised illustration.
