01484 605931 (Option 1)
Equity Release Plans
Equity Release
Equity Release Plans
The equity release market is constantly changing. The introduction of innovative new plans means equity release can be an attractive option for a wide range of people. Unlike most advice firms, we do not charge any broker fees for any advice we give. This can save you literally thousands of pounds initially and over the lifetime of the mortgage.
At KIS we advise on the following equity release plans all on a fee free advice basis.
Lifetime Mortgage – a loan secured against your home typically at a fixed interest rate. Options include drawdown lifetime mortgage, which allows you to access your money in smaller quantities, enhanced plans, protected plans, combined plans and interest payment plans.
Retirement Only Mortgage - These are a relatively new product and sometimes called a 'RIO'. They are effectively a halfway house between a normal mortgage and a lifetime mortgage. They allow you to pay your mortgage on an interest only basis, as long as you meet the affordability rules. The idea is that by paying the monthly interest, you are not going to be affected by the 'Compound Interest Effect' of a lifetime mortgage. Having said that, most lifetime mortgages allow you to pay 10% of the loan amount each year without penalty, which effectively allows you to peg back the interest charges.
Home reversion
– where a cash lump sum is paid in exchange for all or part of your property.
The most suitable plan for you will depend on a number of considerations, including
- How much cash you need
- The value of your property
- Whether you want all the cash straight away
- The age of you and your partner
- How much, if any, you want to guarantee as an inheritance
- Your health and lifestyle choices
Plan features and offers
There are now plans available that enable you to
- Guarantee an inheritance
- Receive Monthly Income
- Pay interest
For a no obligation conversation give us a call.
Where to find us:
111 Bramston Street, Rastrick, Brighouse, HD6 3AQ, UNITED KINGDOM
Where to find us:
111 Bramston Street, Rastrick, Brighouse,
HD6 3AQ, UNITED KINGDOM
YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER LOAN SECURED ON IT
Think carefully before securing other debts against your home. Your mortgage is secured on your home, which you could lose if you do not keep up your mortgage payments. Check that this mortgage will meet your needs if you want to move or sell your home or you want your family to inherit it. If you are in any doubt, seek independent advice.
KIS financial solutions is Authorised and Regulated by the Financial Conduct Authority (FCA No. 302556).