Equity Release in London | Mortgage Advice in London

Equity Release in London

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How does equity release in London work?

If you are 55+ and you are a homeowner, with a property valued at least £70,000, 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).


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*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.


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.


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The Process of Equity Release in London

If you are thinking that taking out an equity release plan might be the right step for you to take next, then it is important that you are aware of all the different options, alternatives, pros and cons.


Book a free appointment using our online form and one of our dedicated later life mortgage advisors will run through all of the options you may have. They will help you understand the steps you will be taking, your options and the effect that taking out a lifetime mortgage in London might have on state benefits, tax and the equity that is left in your home, over time.


We actively encourage clients to make sure that their family members are involved or they have another trusted individual that can be there to support you through the process and be present at the meetings you have with the advisor.


In addition to this side of the mortgage advice service we provide, our team are also more than happy to work with any financial advisors, accountants or solicitors that are going to be involved in your financial planning decisions.


If it is done the right way, equity release in London should have no effect on your tax position or any of your benefits. That being said, everyone has a different situation to one another and a later life mortgage advisor in London will need to have a full view of your situation in order to accurately provide you with advice.


It is important that you enlist the services of a later life mortgage advisor that you feel you can trust and share your information with. As a company, we completely believe that we excel in this area, which is reflected in our fantastic customer reviews.


Once you and your advisor have identified the appropriate plan, your later life mortgage advisor in London will present you with an illustration and a written recommendation, detailing the information you have given us and why we have recommended that specific plan for you.


You later life mortgage advisor in London will then review their recommendation with you, prior to submitting an application to the mortgage lender.


We have a truly brilliant team of experienced case managers who, along with your later life advisor in London, will manage the entire process all the way through until completion. They will ensure you are always kept informed throughout your journey, as well as being readily available to speak with if you ever need us.


We provide all initial advice for free and with absolutely no obligation or pressure to go ahead. Only if you go ahead and your case completed, do we charge you an advice fee.

Things to Consider with Equity Release in London

If you take out a lifetime mortgage in London, you must repay any existing mortgages or loans that you have secured against your property.


Any interest that has accrued,  along with the amount released must be repaid on death or if you move into long term care.


Taking a lifetime mortgage in London will reduce the amount of equity that is available within your property. This means that if you would like to leave some as an inheritance or use some for the payment of care fees in later life, if that ever becomes a necessity, there will be less to draw from.

Why should I use Londonmoneyman for my Lifetime Mortgage?

As an open & honest mortgage broker in London, we have been helping our customers to achieve all of their mortgage goals and dreams for the last 20 years plus.


Our advisors have the same level of passion and dedication that they have with mortgages, in presenting whole of market lifetime mortgage advice in London for our older, valued customers.


We always do everything within our power to overcome every mortgage hurdle that we come across, no matter how complex it may seem. Here at Londonmoneyman, we love a good challenge! We work for our customers, always with their best interests at heart.


Your family is always welcome to be included throughout your lifetime mortgage advice process and we will always accommodate the different needs and situation of our customers if we are able to.


Once you have taken part in your free equity release and lifetime mortgage advice appointment, your advisor will look for the perfect lifetime mortgage deal in London that applies to your current situation, as well as how your circumstances may change in the future.


We will be there to support you throughout your entire process. With our continuous guidance and support, we will work through your mortgage experience together, reducing as much stress from you as we can.

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Authorised and Regulated by the Financial Conduct Authority.
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