The Equity Release Information Centre
Do you need more cash in retirement? It may be possible for you to “release” some of the value of your home as tax-tree cash.Why consider Equity Release?More people than ever are now considering equity release because of factors including cut-backs in state pensions, inadequate private or company pensions, longer life expectancy and the increased cost in later life care. For many though they just want a better quality of life. |
Mr Phillips is 65 and has a large detached property worth £300,000. He takes a drawdown with an initial lump sum of £20,000 and a cash facility of up to £80,000 available for up to 15 years. The interest rate is 5.5%* and the overall cost for comparison is 6.2% APR. The interest rate is fixed for life and added annually. 5 years later Mr Phillips needs an additional £10,000. He dies 10 years later, by this time the amount borrowed is £30,000. The total loan plus interest that must be repaid is £47,394. If Mr Phillips had taken the full £30,000 in one lump sum at the beginning, the total loan and interest would be £51,487. * the actual rate available will depend on your circumstances. Ask for a personalised illustration. What our clients say about usMay I compliment you on an excellent professional service. Samantha was courteous, considerate, professional and extremely helpful! I would not hesitate to recommend you to anyone. Please pass on my sincere thanks to everyone involved. – Mrs. S Horner, Caersws All your staff are “super”, but I would like to especially mention Becky. She dealt mainly with me. She is a credit to your firm. Nothing was too much trouble, no query too small for her to deal with. She has been like a good friend to me being on my own having lost my husband at the beginning of the year. Becky has made things as trouble free as she possibly could. Yes I would recommend anyone, be it friend or neighbour, to your firm – Mrs Lunn, Bournemouth |
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The Equity Release Information Centre
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Chapel Allerton District Centre
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Chapel Allerton
Leeds
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