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Equity release advisers to release tax free money from your home

Equity Release F.A.Q. Section

Please find below a selection of Frequently Asked Questions - click on the question links below to reveal the relevant answers.

If you have a question and cannot find the answer here, please either call 020 3286 3929 or email us at info@kensingtonbarlow.co.uk and we will do our best to answer any further questions you may have.

 

What is Equity?
Equity is the net value of your property after any debt such as a mortgage.

What is Equity Release?
Equity Release allows the homeowner(s) to unlock some of the equity tied up in your home without having to sell up and move out. You can then spend the money on what you want or need.

It is another potential retirement planning option for homeowners.

Would I be eligible for Equity Release?
You need to be 55 or over (both of you if it is jointly owned) and own your own home.

Most property types are acceptable but we will be able to advise further on this.

How much equity can I release?
How much tax free cash you can release depends on a number of factors the main ones being your age and the value of your property.

What are the alternatives to Equity Release?
We will fully explain and discuss your full range of options and this is an important part of the advice process.

These include;

“Downsizing” or moving to a smaller or less expensive property to use the profit.

Seeking financial support from family or friends.

Claiming State means tested benefits or Local Authority home improvement grants if available.

Using a traditional mortgage or other loan.

Using existing savings or investments if available.

What is my next step?
Our initial consultation is Free and without any obligation so please get in touch for us to arrange a visit with a friendly and knowledgable adviser in the comfort of your own home.

How safe is Equity Release?
We are well aware that, in the past these types of schemes have sometimes had a dubious reputation. We are regulated by the Financial Services Authority (FSA). We are members of the Equity Release Council (formerly SHIP) and will only recommend equity release products endorsed by them.

Equity Release Council endorsed products MUST include the following guarantees;

No Negative equity Guarantee, You or your family will never owe more than the value of your home.

You will not lose your home and can remain there for as long as you wish providing it remains your main residence.

No debt left to your loved ones.

You can move to another suitable property.

You retain the right to seek independent legal advice from an equity release Solicitor of your choice.

What happens if my partner or I need long-term care?
Your equity release scheme will normally carry on unchanged if care is provided in your own home or if only one of you has to go into long-term care.

If you both (or you if it is a single life plan) move into a care home, the scheme will usually end and the property be sold, as it would have anyway.

Which Equity Release providers do you use?
We are whole of market equity release advisers which means we deal with all of the product providers and have access to all available plans.

Why take Independent equity release advice?
There are many equity release plans to choose from and choosing the right one for your specific circumstances is vital because it could result in considerable long-term savings. The Financial Services Authority (FSA) states that should you opt not to take independent financial advice and go on to choose an unsuitable equity release scheme then you will have fewer grounds for complaint.

We are members of the Equity Release Council (formerly SHIP) and regulated by the FSA.

We provide independent financial advice specifically on equity release from the whole market.

What can equity release be used for?
Equity release can be used for a variety of things including:

Increasing disposable income

Funding retirement

Home improvements

Providing financial help to family members or friends

Taking a dream holiday or regular breaks

Repayment of an existing mortgage

As a temporary stop-gap to tide you over financially whilst you wait for your pension, an inheritance or any other tied-up investments to be released — once you have the cash you’ve been waiting for, you can pay off your loan

Funding the purchase of a new home at a higher value than your existing property

Improving or maintaining a lifestyle standard

Enjoying hobbies and pastimes

Buying a new car

Paying for a carer, gardener or cleaner

Reducing the value of your estate and mitigating Inheritance Tax

Where Can I Apply or find out more in detail about releasing some equity?
To get started and WITH NO OBLIGATION simply complete our enquiry form and we will contact you to double check you meet the criteria required. There are only a few basic questions to start with and once we have spoken to you and know a little bit mroe about your circumstances we can then proceed. Click Here to complete the short form.


 

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Need a more accurate idea of what equity you may be able to release?
Call 020 3286 3929 or if you would rather, email us at info@kensingtonbarlow.co.uk
or Enquire Here

Please Note: This Kensington Barlow website is a trading style of Exclusive Leads Ltd and is an Introducer only offering free to use websites to help you find the best possible solution to your equity release requirements. We will only introduce you to an Independent and regulated financial adviser who are registered with the Equity Release Council (Formally known as SHIP) and who specialise in Home Equity Release or similar products and use the whole of the market providers.
Equity release faqs, questions and advice on releasing equity within your home



Equity release plan faqs, questions and answers on releasing equity within your home



Equity release, questions and advice on releasing equity within your home