Equity release refers to a range of products that let you access the equity (cash) tied up in your home if you are over the age of 55. You can take the money you release as a lump sum or, in several smaller amounts or as a combination of both.
Is Equity Release Right for You?
At Mansfield Money, we ensure that any decision you make is made by yourself, and best suited to your circumstances at the time of arranging a plan. If you are a homeowner over the age of 55 and perhaps want to clear some debts, maybe do some much-needed home improvements, go on the holiday of a lifetime or even want to help family members with a house deposit, equity release may well just be the right product for you.
We welcome and encourage your loved ones’ involvement throughout the process, so that you can assess if equity release is the right thing for you and your family. We like to handle things face to face so that we can understand your situation and provide the best service possible.
Whilst there a no restrictions on what the funds released can be used for, typically they are used for one or more of the following reasons:
- The holiday of a lifetime
- Helping or treating family
- Paying off outstanding debts
- Home improvements
- Repaying an existing mortgage
- Buying a new car, caravan or holiday home
An equity release plan may sound like the service for you, but we advise that you read some of the advantages and disadvantages below before you make a choice:
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The guidance and/or advice contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK
Think carefully before securing debt against your home. Your home may be repossessed if you do not keep up payments on your mortgage or any other loans secured on it.
Mansfield Money Limited. Company Reg: 12033372. Registered Office: 7 St. John Street, Mansfield, Nottinghamshire, NG18 1QH. Trading Office: Mansfield Money, Pennine View, Chesterfield road, Huthwaite NG17 2QE. Mansfield Money Limited is registered with the Data Protection Act 1998 Registration No: ZA782776 and is directly authorised and regulated by the Financial Conduct Authority under firm reference 846845.