Releasing Equity with a Later Life Mortgage
At Gloucester Mortgage Centre, we want to help you enjoy your retirement.
Our helpful and friendly expert advisors are happy to discuss your later life mortgage needs to help you find the right product.
Appointments are available in the comfort of your own home or via phone or even video call.
Releasing Equity
An equity release plan allows homeowners aged 55 and over to access some of the tax-free cash tied up in the value of their home.
If you’re considering releasing money from your home, then you probably already have a good idea of how you’d like to spend it, weather it be for a trip of a lifetime or to make some much needed home improvements, clearing existing debts or to support loved ones.
If you want the money all at once, then you could opt for a lump sum lifetime mortgage. Alternatively you could opt to take initial amount and then release further funds as and when you need to at a later date, you might choose a drawdown lifetime mortgage.
Whichever way you choose, with our product range, guided by Gloucester Mortgage Centre's expert advisors, you can be confident our helpful and friendly experts will find the right product for your needs.
What to consider before taking out a lifetime mortgage?
With a lifetime mortgage, the most popular form of equity release, you’ll still own your home and there are typically no monthly repayments.
That’s because it’s a loan secured against your property and repaid when your plan comes to an end. Usually, that’s when you, or the last remaining applicant, either passes away or enters long-term care.
All of our equity release plans meet the Equity Release Council standards and come with the no negative equity guarantee. This means you’ll never owe more than the value of your home and any debt you accrue through equity release will never be passed on to your family.
- Get advice before releasing tax-free cash from your home, its always worth seeking advice legally and from loved ones as a lifetime mortgage may mean changes need to be made to wills or effect IHT.
- All of our plans meet the Equity Release Council standards and come with several protections, including the no negative equity guarantee, which means you’ll never owe more than your home’s value
- A lifetime mortgage is a loan secured against your home. It will reduce the value of your estate and may affect your entitlement to means-tested benefits
- You should always think carefully before securing a loan against your home
Our friendly expert advisors at Gloucester Mortgage Centre can help you with impartial and tailored advice to help take the worry and hassle out of your later life borrowing and find the right later life mortgage to suit your needs.
- Release funds from your property to top up your pension income.
- Gift money to loved ones for a variety of reasons.
- Take the trip of a lifetime.
- Make home improvements.
- Pay off existing debts.
Contact Us Today
Contact Us Today
Talk to our helpful and friendly expert advisors Gloucester Mortgage Centre today on 0333 011 2520 or fill out our handy form to help you find the right Later Life Mortgage product for you.
We offer UK whole of market advice with no upfront fee & without obligation.
Should you proceed with a Gloucester Mortgage Centre recommendation, we charge an advice fee of £695 for later life mortgages of up to £80,000, for later life mortgages over £80,000 we charge a fee of £395 for payable only on the completion of your plan.
To understand the features and associated risks please ask for a personalised illustration.
Equity release requires paying off any existing mortgages.
Any money released, plus accrued interest would be repaid upon death, or moving into long-term care.
Equity Release enables you to release tax free cash from your home without having to downsize without the risk of negative equity.
Backed by the Equity Release Council.
We always recommend taking legal advise and consulting with family members or loved ones before opting for Equity Release.