Equity Release providers provide a “negative equity guarantee”. This is something our advisers would discuss with you to discover your thoughts and feelings about negative equity.
This depends on the value of the property and your age. Get in touch with one of our advisers and we will be able to tell you how much you would be able to raise.
No, you have the right to carry on living in your home for the rest of your life or until you move into a retirement home.
No, there is no tax to pay at all.
Yes, there are fees involved, a lenders arrangement fee but this can quite often be added to the advance, Solicitors fee and usually a broker fee.
You have to be 55 or over.
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Yes, you will need to have had independent legal advice. You could use your usual solicitor or we are happy to provide a list of local solicitors who can advise you.
This depends on whether the state benefit is “means-tested”. As part of our fact-finding process we will discuss all sources of your income and whether these could be affected should you take out Equity Release.
Yes, Equity Release can be done on flats.
Unfortunately, not. Equity Release lenders will only consider application for properties that are held on a “Joint Tenancy” basis. Get in touch to see if there is any other way that Money Matter can help.
Yes, however it would only be in the name of the property owner, and additional declarations would need to be signed by your spouse. Please ask us if this is the case for you and we can advise you of the best way forward.