Equity Release Mortgage
Equity Release will reduce the value of your estate and can affect your eligibility for means tested benefits.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The equity in your home is the value of your property less the outstanding mortgage. Equity release brokers Northampton can enable you to release this cash from your property without having to move home.
Converting the proportion of equity in your home into cash is popular for many reasons, but most people are looking to:
- Pay off the outstanding mortgage at the end of the mortgage term.
- Help a family member (usually children or grandchildren) buy their first home.
- Supplement pension or investment income.
- Pay for home improvements.
- Reduce the value of the estate and save inheritance tax.
- Pay an ex partner for their share of the property following a separation.
- Fund the purchase of a second property.
If you need to release equity from your home, it’s essential that you talk to a mortgage broker who can look at all of the products available on the market today. These can vary greatly, so it’s important to look at all available options and get the most suitable product for your circumstances.
As a mortgage broker in Northampton we work for you not the lender, and we will compare the entire market to get the most suitable product for you. We look at your current and future circumstances and make sure equity release is the most suitable option to meet your requirements.
If you are considering equity release, talk to Derngate Wealth today.