Equity Release

Release cash from your home to
help you enjoy a comfortable retirement

More people are using equity release to help enjoy a comfortable retirement

Personal Asset Management are Equity Release advisers covering Torbay, Newton Abbot and Exeter.

On average, people are living longer than ever before and often have 20 years or more in retirement.  This should be a time to reap the rewards of a lifetime’s work and turn minds to more enjoyable events and equity release may help you to do this.

What is equity release?

Equity release (sometimes referred to as a Lifetime Mortgage) is a way of releasing money from your home, often without the financial commitment of making monthly repayments.

Equity release is available to anyone over the age of 55, who own their own home (with little or no mortgage), in the UK with a minimum property value of £70,000.

There are no rules around what the equity can be used for.  However, from our experience clients have used equity release for the following reasons:

  • Repay an existing mortgage.
  • Help Children/Grandchildren with house deposits.
  • Refinance debts.
  • Increase retirement income.
  • Luxury items such as holidays or motorhomes.

How safe is equity release?

Equity release advice is regulated by the Financial Conduct Authority (FCA) and the plans we recommend meet the standards of the Equity Release Council (ERC). You will continue to own your own home and will continue to benefit from any property value increases. You are even able to maintain the interest payments to ensure that interest does not roll up.

Are there any downsides to equity release?

As with any financial commitment both the positive and negative aspects need to be considered. For example, when you release equity from your home you are potentially reducing future inheritance for your family.

As Independent Financial Advisors, we will explain all the benefits and potential implications of taking an equity release mortgage.

Is equity release right for me?

Releasing equity from your home is not suitable for everyone and not a decision that should be taken lightly. Personal Asset Management offer a free 30-minute initial consultation, either over the phone or in person.

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Think carefully before securing other debts against your home. Equity released from your home will be secured against it.

Personal Asset Management are Independent Financial Advisors with over 50 years combined experience.  We have clients throughout Torbay, Newton Abbot, Exeter and the South of England, with our office based in Kingskerswell.

Our services include investment advice, Inheritance Tax planning, pension advice and retirement planning, mortgages and equity release.