Financial Adviser Newton Stewart, Wigtownshire ~ Financial Planning Newton Stewart, Wigtownshire
Financial Advice Newton Stewart, Wigtownshire ~ Pensions Advice Newton Stewart, Wigtownshire ~ mortgage advisers Newton Stewart, Wigtownshire

left webpage shadowright webpage shadow
Company logo

Tel: 01671 403080

comment on image 1 comment on image 2

Introduction to Equity Release

What will you have to pay us for this service?

A flat fee of £250 will become payable at outset. We will also be paid commission from the provider.

If you're typically over the age of 55, equity release offers you a way to use the value of your home to raise money.

It is advised that you seek Independent Legal advice before entering into a legally binding equity release contract.

Why do people consider Equity Release?

  1. To provide an additional income
  2. To provide lifetime gifts to relatives
  3. For home improvements
  4. For holiday home purchase
  5. To fund long term care

You probably have other ideas - there is no restriction on how you use the funds.

However, since equity release can be an expensive way to raise money when taking into consideration payment of arrangement fees or interest, you should also consider the following:

  • Your savings & investments
    If you have savings or investments you may wish to consider this alternative.
  • Benefits entitlement
    Equity release could reduce or prevent you from receiving some means-tested benefits so it's worth speaking to your local authorities to consider these areas first. They may be able to offer you grants or assistance with essential home improvements and alterations that you would otherwise pay for yourself.
  • A smaller home
    If your family have grown up and they are off on their own financial journey now, your current home may be too big for your needs and you could consider something smaller and more economical to run. In this case, you could consider purchasing a smaller property, leaving you with a lump sum on completion.
  • Rent out a room
    If your house is sufficiently large you might consider renting out a room to bring in regular extra income.
  • Sell your home and live in rented accommodation
    This option involves selling your house and investing the proceeds in income producing investments. The income from these investments is then used to rent a property and for your living expenses. You would only really be able to generate sufficient income to live on if your property was sold for a large sum of money so this option should only really be considered if your house is worth in excess of £400,000.

Equity release has to fit with your needs, circumstances and preferences, where the benefits need to outweigh the drawbacks and be more suitable than alternative methods of raising funds.

A LIFETIME MORTGAGE CAN QUICKLY ERODE THE REMAINING EQUITY AND AS A RESULT THERE MAY BE NO VALUE LEFT TO PASS ON.

EQUITY RELEASE MAY REQUIRE A LIFETIME MORTGAGE OR HOME REVERSION PLAN. TO UNDERSTAND THE FEATURES AND RISKS, ASK FOR A PERSONALISED ILLUSTRATION.


Mortgage/Equity Release Enquiry
investment TV button link
product research button link
rss Financial times example feed

Company address:
Marr Financial Services Ltd, Central Office, 61 Victoria Street, Newton Stewart, Wigtownshire, DG8 6NL
T: 01671 403080
F: 01671 402549

Email: advice@marrfinancial.co.uk

Registration address as company address
Registration number: SC275449
Registered in: Scotland

Marr Financial Services Ltd is authorised and regulated by the Financial Conduct Authority.

Marr Financial Services Ltd is entered on the Financial Services Register (http://www.fca.org.uk/register/) under reference 705884.

The FCA do not regulate National savings products, loans, Will writing, Commercial Mortgages and some forms of buy to let mortgages and inheritance tax planning.

The guidance and/or advice contained within the website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.

Telephone: 01671 403080 | advice@marrfinancial.co.uk

Designed & developed by Web Pro IT © 2009

Life insurance quotes Newton Stewart, Wigtownshire ~ best mortgage rates Newton Stewart, Wigtownshire ~ Financial Advice Newton Stewart, Wigtownshire
retirement planning Newton Stewart, Wigtownshire ~ tax saving advice Newton Stewart, Wigtownshire ~ investment advisers Newton Stewart, Wigtownshire