Equity Release

Releasing equity is a way of unlocking the value of your property, without having to sell or move home. There are a number of products that fall under the ‘Equity Release’ portfolio, finding the right one may seem difficult. At M.A.I.N we make it easier for you to make an informed decision on whether or not it’s suitable.

Release Tax-Free cash from your home with Equity Release at M.A.I.N

Who can get Equity Release? …

For a lifetime mortgage you need to be at least 55 years old.
For a home reversion plan you need to be at least 65 years old.
You must own property in the UK, which must be your main residence.
Your property must be in reasonable condition and over a certain value, and there may also be restrictions on the type of property accepted.
If you have a mortgage or secured loan on your property you may still qualify for equity release, but it will depend on the value of your home and the amount outstanding on the existing mortgage or loan. You’ll have to pay off any outstanding mortgages or loans secured against your home at the same time as taking equity release.
Equity release may not be suitable if you have dependants living with you. Any dependants should take separate legal advice. If they wish to remain living with you in the property, they may need to sign a waiver confirming that they understand they don’t have the right to reside there if you die or move into permanent residential care.

“Equity release is a great way to access equity in your property without having to move, but may not be the most suitable option for all circumstances”

Graham Allsop – Broker/Director at M.A.I.N

Call Graham – 0151 625 5995

I would like to thank you all at MAIN for your time & support during buying my 1st time property, a Buy to Let & with myself working away made things a bit harder, what I believe was a walk in a park for you all, always professional, happy to help & answer any questions when needed speedy. We even had a problem with the 1st solicitors! But MAIN acted like the 5th Emergency service & by the end of the day the 1st was kicked out & MAIN had Alexandergrace Law on the case who already set me up an account & posted me a welcome pack before I had even got out of bed & had time to made a coffee! Alexandergrace Law have also been fantastic. I’m already looking forward to a trouble-free 2nd house buying process, if it was not for MAIN ill still be very ‘Confused . com’ & would never have taken the opportunity to trust anyone else Lucky I got highly recommended by 2x senior colleagues who both use & trust MAIN, I am awfully glad I took their advice thank you & good luck.

Lee Bufton

25. March, 2021.

After having our first meeting with George, we were put at total ease. Such professionalism, George explained everything that we needed to know as first time buyers. We left m.a.i.n with a spring in our step knowing that George would 100% look after us in our process of buying our home. We would highly recommend this company for all of your mortgage and insurance needs. Thanks again George and the team at M.a.i.n

Marie O'gorman

25. March, 2021.

I have used MAIN for Financial advice recently and have no hesitation in highly recommending their services. They are extremely knowledgeable...helpful and super efficient! A brilliant Team. Thank You.

Annie Lewis

24. March, 2021.

Brilliant company.Very professional.would use again.Thanks.

Donald Crowder

24. March, 2021.

Excellent service from the start.

Emily McGowan

24. March, 2021.

The most helpful and professional service I have ever experienced in customer service. I would recommend MAIN to everyone I know.

Chris Davies

23. March, 2021.

Maddiehatter Rules

19. March, 2021.

First Class company... I wouldn't hesitate in recommending this company to everyone I know! All the staff are lovely, friendly and welcoming. Elliott took everything out of our hands and worked his magic with absolutely no issues what so ever. He was super quick and so efficient. I wouldn't use another company now. The gifts for recommending people are just a lovely added bonus. I also follow MAIN on Facebook and you can see they are a real team and they love their job. Thank you x

Samantha Henderson

12. March, 2021.

Fantastic service. I phoned with my enquiry on a Monday, had an appointment the following day, and received a mortgage offer within a week. Highly recommended

Daren

11. March, 2021.

Andrew Saunders

11. March, 2021.

Book Your FREE Appointment

If you would like to find out more about equity release and whether or not it would suit your needs and requirements, just get in touch.

We can have a chat, discuss all the advantages and disadvantages, then establish the perfect outcome for you. We can arrange a telephone, Zoom call or face-to-face appointment to find out whether this is the most suitable option for you.

0151 625 5995 or

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Equity Release at M.A.I.N

Updated: 31st March 2021

There are two different options when it comes to releasing equity from your home.

The first option is to sell part of your home or all of your home, to give you a regular income and/or lump sum. This option is known as a Home Reversion Plan.

The second option is to take out a loan secured against the property, i.e a mortgage. This option is known as being a Lifetime Mortgage.

There are advantages and disadvantages to both options. Below you will see a few things to consider when deciding which option may be best for you.

If you are considering a form of equity release, we always offer a FREE, no obligation appointment to discuss all options and factors to ensure you are making the right decision for you.

Lifetime mortgages are often seen as the most popular form of equity release. This is due to the fact that you can retain full ownership of your property and choose whether or not to make monthly payments.

Home Reversion Plan – Equity Release

As mentioned above, this plan involves selling either a part share or full share of your property to a Home Reversion provider in return for either a lump sum or monthly income. You retain the right to live in the property until either you sell the property, move into long-term care or die.

If you sell the property, the proceeds are split according to the equity share owned by you and the home reversion provider. If you opt for the ‘full reversion’ option, the home reversion provider will own your home outright, including any increase in value from the date of sale.

Lifetime Mortgages – Equity Release

This is not a typical type of mortgage. This option is typically designed to run for the rest of your life or until you move into long-term care. You borrow money secured against the value of your home, giving you a lump sum and/or regular income. You continue to own your home, until the loan is repaid.

This is usually when the property is sold following death or a move into long-term care. If there is any money left after the loan is repaid, it will go to your beneficiaries.

AN EQUITY RELEASE PRODUCT WILL REDUCE THE VALUE OF YOUR ESTATE, WILL NOT BE SUITABLE FOR EVERYONE AND MAY AFFECT YOUR ENTITLEMENT TO STATE BENEFITS. TO UNDERSTAND THE FEATURES AND RISKS PLEASE ASK FOR A PERSONALISED ILLUSTRATION.