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

“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

The ladies on reception are excellent, extremely helpful and keep you in the loop. George also gave us great advice, would recommend.

Lynsey burgess

13. May, 2021.

Would definitely recommend. Excellent service throughout from Elliott and the team. 5 stars!

Richard Lashbrooke

12. May, 2021.

After being rejected by our own bank for a re-mortgage after a 4 hour zoom meeting with them (I kid you not) to be told no was gutting. We met with George at MAIN. Within 45 minutes we had a new mortgage to consider, an offer by a lender by the end of the same day and the re-mortgage completed (money in the bank) 37 days later!!! - all ready to start our extension. We cannot thank the team at MAIN enough for their support and flawless professionalism throughout the whole process. The admin team making the bookings were so friendly and made the whole thing so easy to look forward to rather than feeling intimidated like we have felt with our own bank. George himself, his knowledge of the market and current trends and issues were outstanding and his friendly professional manner made us feel we had the knowledge and guidance we needed to proceed.

parkfielduser57

6. May, 2021.

Very positive customer experience. Really efficient service and lots of communication from the team between appointments. I really liked how before we sat down George had reviewed our documents and it was clear he had a great understanding of our needs. It was a more personal experience and George has secured us a brilliant and affordable deal. Thank you to the team at M.A.I.N.

Sophie Tucker

30. April, 2021.

I chose MAIN as my mortgage broker due to their excellent reputation and from friends recommendations and I only have positive things to say about the experience I have had with them. From start to finish the team there have been great to deal with, always efficient in their responses and easily contactable via phone, email or in person. Going in for the initial appointment I met with George who was really friendly and explained what would be best for me in my situation and went through everything with me. Once I found a property I wanted to buy I contacted the team at MAIN who were able to process my mortgage in principal for me. I can’t recommend the team here enough, all the staff I have had contact with were helpful, efficient in their responses and were only too happy to help. I’m new to this process so sometimes it can seem a bit daunting but the team there made me feel confident to make informed decisions. Thank you George, Aimee, Abbie and Sarah for all your help. I will be using you in the future and I would highly recommend you to any friends or family. I can’t wait to move my family into our new home. Carrie Jones

Carrie Jones

28. April, 2021.

Fantastic, friendly service, highly recommend!

natalie kingham

26. April, 2021.

We initially were impressed with the upmarket website and premises, sadly the upmarket image failed to deliver. Communication was very poor despite many promises. There was a complete failure to return calls or respond to e mails. The only financial quote returned was well above their competitors. We sincerely hope they improve as we like to see local business succeed

Bryn Jones

23. April, 2021.

I can highly recommend "Main - Mortgage & Insurance Needs". They are unbiased and ensure that the client obtains the best results that fits their needs. I would give them a 5 * Rating.

Brian Casey

23. April, 2021.

Had a really good experience so far with Elliott, Olivia and the team at MAIN. Very clear information, responsive and helpful.

Rachel Meadows

22. April, 2021.

Nothing but great things to say about Elliott and the team at MAIN throughout the mortgage process.

Ryan Higginson

20. April, 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

Request a Callback

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.

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.

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.