Equity release is a way of unlocking a proportion of the value, or equity, that you have in your home in exchange for a tax-free one-off or series of lump sums; without having to move home.
People release equity from their homes for a variety of reasons and there are no restrictions how the money is used – as long as it is for legal purposes. Examples of reasons given recently include:
- To remain in their own home
- Home improvements
- To pay for care fees
- Repayment of debts
- To provide additional income
- Tax planning and mitigation
- To spend and enjoy life while they are able
Before entering into equity release the full range of alternative options should be considered for example: other available assets, downsizing, borrowing from family. Once the decision is made there are then different types of equity release available and professional advice must be taken to ensure that you use the most suitable option for your circumstances and objectives. Our advisers hold qualifications and experience in this area and can guide you through all the options and solutions available to help you achieve your goals.
Warning: Advice regarding equity release requires specialist qualifications and you should ensure that your adviser holds these qualifications before engaging with them.
Your home may be repossessed if you do not keep up the repayments on a loan or other mortgage secured on it.
Cestrian Life & Pensions Limited is an appointed representative of LJ Financial Planning Limited, who are authorised and regulated by the Financial Conduct Authority (FCA), 12 Endeavour Square, Stratford, London, E20 1JN. Our firm reference number is 507741, LJ Financial Planning reference number is 429142.