Telephone:
0191 695 9493

Email:
info@northeastequityrelease.co.uk

What Is Equity Release?

If you are aged 55 or over and own your own home, you could qualify for an Equity Release Plan.

Continue To Own Your Home

Lifetime Fixed Interest Rates

No Negative Equity guarantee

No Income Assessment

Stay In Your Home For Life

No Credit Checks

An Introduction
To Equity Release

If you are 55 or over and you own your own home, you could qualify for an Equity Release Plan and unlock a lump sum from your property to help you enjoy the retirement you deserve.

The value of your home, minus any outstanding mortgage or any other lending secured on it, can be described as your ‘equity’. An Equity Release Plan enables homeowners like you to unlock some of this value as tax-free cash. Because the funds are yours in the first place – you’re simply ‘releasing’ them – the money you receive is tax-free and can be spent on anything you like.

With no monthly repayments to worry about, although you can choose to service all or part of the interest and even make capital repayments if required, the loan and any interest accrued is repaid on either the sale of the property, entering long term care or death (of the surviving partner for joint applications).

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Reasons To Release Equity From Your Home

Repay an Interest Only Mortgage

Many homeowners with Interest Only mortgages are finding themselves coming to the end of their mortgage term with no way of repaying the outstanding mortgage. An Equity Release Mortgage can be used to repay an Interest Only Mortgage with the choice of no monthly repayments, servicing part or all of the monthly interest or even making capital repayments to help reduce the balance if required.

Top up your Pension Income

It’s true…. People are living longer and for many this means their pensions aren’t able to provide them with the level of income they need over the length of their retirement. An Equity Release Mortgage can be used to provide you with a tax-free monthly income to top up your pension or you can choose to drawdown tax free cash lump sums on an as and when basis is you prefer.

Buy a New Home

Downsizing to a more suitable property in which to enjoy your retirement doesn’t always mean downsizing in cost. On a like for like location and living space basis, bungalows can often cost more to buy than houses. An Equity Release Mortgage can be used to provide you with that extra buying power to help you buy the home of your retirement dreams.

Home Improvements

From essential repairs to your home to a new conservatory, landscaping your garden or a new kitchen. An Equity Release Mortgage can be used to provide you with a tax-free cash lump sum to make the improvements you want so you can relax and enjoy your retirement in the comfort of your own home.

Holiday/ Cruise/ New Car

You now have the time to take that holiday of a lifetime or cruise you’ve always dreamt of or maybe you would like to treat yourself to a new car…. but don’t have quite the savings to pay for it. An Equity Release Mortgage can provide you with a tax-free lump sum to treat yourself to the retirement you deserve.

Domiciliary Care

You need some help with care and daily living but would prefer to remain in control of this and maintain your independence within the comfort of your own home rather than move into a residential care home. An Equity Release Mortgage can provide you with the additional income you need to cover the cost of providing you with the care you need in your own home.

Pre-Paid Funeral Plans

Limited savings and worried about leaving your loved ones to cover the cost of your funeral? An Equity Release Mortgage can be used to buy a cost effective pre-paid funeral plan.