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Equity Release in London

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How does equity release in London work?

If you are 55+ and you are a homeowner, whether you have a mortgage or not, you could be eligible to take out an equity release plan.


Equity release plans allow you the option of releasing a portion of the value of your home as a tax-free lump sum, or a series of smaller sums that can be taken out during a specific length of time.


Londonmoneyman are a company that specialise in providing a whole service with mortgage advice in London, provided to you by experienced and qualified later life mortgage advisors in London. This is backed up by a hard working team of case managers, to ensure that your plan is correctly and effectively put in place and to keep you informed throughout your journey.


Your later life mortgage advisor in London will take an in-depth look at your current situation, your past experiences and what you are looking to achieve in the future. This allows them to determine whether equity release in London, or an perhaps something else, is the right step for you to take.


If this is the right path for you to go down, it also allows your later life mortgage advisor to find the most appropriate product that benefits you currently and in the future, from the whole of the market.


There are two main types of equity release available in London – the lifetime mortgage which is available to homeowners from 55+, as well as the home reversion plan* (which involves selling all or a portion of your home).


Get a Quote020 4511 4209


*Both types of equity release plans, lifetime mortgages and home reversion plans, are regulated by the Financial Conduct Authority. Londonmoneyman does not offer home reversion plans. 

Lifetime Mortgages in London

Whether you are looking to raise money to help out children or grandchildren, repay a current mortgage you have or other debts in your name, carry out home improvements or boost your retirement income to cope with increased costs of living, our fast & friendly mortgage advisors can help you to achieve your goals.


A lifetime mortgage in London can give you the option to release tax-free money from the value of your home. You will retain complete ownership of your home  and you can stay in your home for the remainder of your life.


Typically speaking, a lifetime mortgage in London will be repaid from the sale of your home once you have died or have moved permanently into care (with two borrowers this will apply to the surviving borrower).


In recent years, lifetime mortgages in London have become a lot more flexible, with these now including options to make voluntary payments, monthly interest payments and the ability to move your mortgage to another property you wish to live in.


For additional mortgage advice in London regarding equity release in London, it is worth seeking the advice of someone who is a specialist in this mortgage area, like ourselves.


Book online to speak with a mortgage broker in London, and you will benefit from a free initial mortgage appointment with one of our later life mortgage advisors. They will happily discuss your options for releasing equity in London and advise on the best course of action to take.


To understand the features and risks, ask for a personalised illustration. Our typical advice fee is up to £1,495 only payable on completion.


A lifetime mortgage may impact the value of your estate and it could affect your entitlement to current and future means tested benefits. The loan plus accrued interest will repayable upon death or moving into long term care.


We search 1000s of mortgage deals across a large number of lenders, including:

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Popular Options For Equity Release in London

As referenced previously above, there are a wide variety of reasons as to why somebody may wish to select a Lifetime Mortgage when looking at Equity Release Mortgage Advice in London.


Frequent reasons that we hear of when speaking to customers about Equity Release in London include, but are not limited to;

  • To repay a mortgage
  • Any additional purchases
  • For paying off unsecured debts
  • To pay for any home improvements, modifications or alterations

Equity Release to Pay Off an Existing Mortgage

You may still be able to take out a Lifetime Mortgage for Equity Release in London, using your released equity to pay off the remainder of your mortgage balance, if you have a term that is currently ongoing.


It is very important to remember though, that your affordability could potentially be affected by this, as technically you still have a large financial commitment that you are paying for. This could limit how much the mortgage lender is willing to lend to you.

Equity Release to Pay Off Unsecured Debts

As a homeowner, to give you an example, your mortgage repayment is a secured debt, with the asset it’s secured against being the home you live in. Unsecured debts include personal loans that you have taken out, and they don’t have the luxury of being secured against an asset of any kind.


For any credit problems such as these, people will often instead choose Equity Release in London, as a means of covering the costs of any unsecured debts that they have built up over a length of time.

Equity Release for Home Improvements, Modifications or Alterations

Some homeowners will prefer to undertake Equity Release in London as a way of raising the necessary funds for any potential home improvements, modifications or alterations that you wish to make.


On the surface this essentially works the same as remortgaging to release equity would, with the one big difference being that a remortgage to release equity is generally taken out using a repayment mortgage, whereas regular Equity Release means you will be taking out a Lifetime Mortgage instead.


We generally find that options for this include to pay for the costs involved in creating home offices, extensions, conservatories, kitchens garden improvements and new living rooms, as well as various other spaces someone may want.

Equity Release for Additional Purchases

Once you have released some equity from within your home, you are able to spend it freely, as you would like to.


Whilst some may choose to use their equity to cover much more serious, financial means, others may simply opt release equity as a means of having some fun. These options usually include things like a buying a brand new car, booking a holiday or two abroad, a wedding for yourself or someone you know, amongst others, really anything you can think of.


With more or less an unlimited potential, the equity in your property is yours to spend to your hearts content.

I have an Equity Release enquiry, can you help?

We are trusted and experienced mortgage advisors in London, who are now able to help customers with all of their Equity Release & Lifetime mortgage questions and concerns. Our Equity Release mortgage advisors in London are fully qualified and able to take a look at your case.

Can you help me remortgage to release equity?

Yes, we can take a look at this!


As specialists in Equity Release & Lifetime Mortgages, we are able to help you with any other standard remortgage enquiries if that is what you would like to do as your fixed period draws nearer.

Why should I use Londonmoneyman for my remortgage?

With over twenty years of mortgage world experience, we have been able to help thousands of our mortgage customers towards reaching their home owning and home buying dreams.


As an expert Mortgage Broker in London, our amazing and knowledgeable team are able to take a look through 1000’s of different mortgage deals, in order to try and find the perfect one for what you’re looking to achieve.


Throughout your mortgage journey, whether a home buyer or existing homeowner, we’ll offer you our continuous support, answering any questions that crop up over time, whether we’re near the start or near the end of that journey.


Our experienced mortgage advisors in London are even able to help with various other services when applicable for us to do so, such as referring you to a trusted conveyancing solicitor.


Here at Londonmoneyman, our dedicated and loyal team of mortgage administrators and mortgage advisors in London are very proud of the service levels we are able to provide, something that is reflected within our customer reviews.

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