The latest figures from the Equity Release Council (ERC) show that, after several years of consistently steady growth, equity release lending volumes remained similar in 2019 compared to the previous year.
With a lifetime mortgage, you take out a loan secured on your home which does not need to be repaid until you die or go into long-term care. It frees up some of the equity you have tied up in your home and you can spend it on whatever you want. […]
The Access Equity Release team had a great time at the Mortgage Solutions Awards for Equity Release in London, November 21st 2019. The awards recognise achievements over the last year including customer service and quality of advice. Our nomination To make the shortlist in our first year is a rare achievement and something we are incredibly proud of. We believe our success is based on our consistent quality over quantity approach to advice. The nomination rounds off a successful awards season for our hard-working team, making the shortlist for all of our entries and taking home the title of "Equity Release Adviser of the Year 2019" from Moneyfacts. Why Access Equity Release? Recognition from clients and respected industry experts is well deserved and reflects on the hard work of everyone at Access Equity Release. Unlike some in the industry, we are not restricted to a panel of lenders. Instead we prefer to offer independent advice to our clients. Our clients [...]
Are you interested in equity release but not completely sure about what’s involved? Our step-by-step guide helps you with the key steps involved in unlocking the wealth in your home. Check your eligibility Before going any further, check you are eligible to apply for equity release. You need to be at least 55 years old and a homeowner. If you are applying jointly, for example with your spouse, the youngest applicant must be at least 55. For some types of equity release, you may need to be older. The property you are thinking about releasing equity from must be your permanent, main residence. Do your research Before meeting with an adviser you may find it helpful to briefly research equity release. Access Equity Release has produced a number of helpful videos, which cover key terms and frequently asked questions. You can also get more information from the Equity Release Council (the industry body for equity release) or the Money Advice [...]
As life expectancy in the UK continues to increase, considerations need to be made about how to fund a good quality of life during retirement years. If you couple this with rising living costs, poor interest rates and other personal debts, equity release in retirement can be a great option for getting a pot of cash in the bank. For many people their largest source of income can be tied up in their most valuable possession - their home. If you have owned your home for a long time then it is likely that you have a substantial amount of equity in it, especially with increases in house prices over the decades. Equity release is a tax-free way of freeing up that cash, enabling you to put it towards something else in your retirement. If you choose to release the money you will still own your home until you die or go into long-term care. It is most common to [...]
If you are keen to investigate equity release, how to choose your equity release adviser? There is a great deal of choice. You will need to share a lot of information with your adviser and feel comfortable asking questions. Therefore choosing the right adviser is important. We’ve put together a checklist of what we think makes a good adviser. Financial Conduct Authority Before the meeting takes place you should double check that the equity release adviser is regulated by the Financial Conduct Authority and is permitted to advise on equity release. We also recommend that your adviser is a member of the Equity Release Council. How many lenders? It makes a difference to the information you receive from your adviser if your adviser works with selected lenders only. We recommend an adviser that can search the widest possible range of lenders to find the right deal for you. Face to Face You may decide it is more beneficial to meet [...]
The Bank of Mum and Dad is well known for providing a helping hand at those expensive times of life. But the Bank of Gran and Grandad is increasingly in business too with the average gift to each grandchild being over £9,000, according to research by Saga in 2017. If you are keen to help your grandchildren financially, equity release could provide you with the funds to do so. In this blog, we look at some of the reasons for giving money to your grandchildren and the implications you need to consider. Why give to your grandchildren? Traditionally, we would save or invest money to build an inheritance for our children and grandchildren to receive when we die. But many people now decide not to wait and choose to pass on their wealth when it is most needed by their relatives instead. Inheritance Tax is also a big consideration for some and planning ahead can significantly reduce the liability. Funds [...]
Releasing equity in your home is a major financial decision. The choice of equity release products available has never been greater, with an increasing range of features to suit individual needs. There are many benefits you could enjoy but, as with any financial product, you may be wondering how safe it is. At Access Equity Release, we believe it is important to be fully informed about all the features and implications of equity release before you decide whether it is the right option for you. We hope this blog will ease any concerns you may have about how safe equity release is. Equity release is regulated It reassures many people to know that equity release is fully regulated by the Financial Conduct Authority (FCA). This means that anyone giving advice on the two types of equity release - lifetime mortgage or home reversion plan - must be authorised to do so by the FCA. In addition to this basic regulation, [...]
Demand for equity release is growing and the number of product options has more than doubled in the space of a year. That is the key finding which stands out from the Equity Release Council’s Spring 2019 Market Report. But this massive increase in options makes the need for quality advice on equity release more important than ever. In this blog, we take a look at the report in more detail. Product options more than double Back in January 2018, there were 86 different product options available to homeowners over the age of 55 who wanted to access money from the value of their property. The Equity Release Council (ERC) found that number had jumped to 139 by August 2018 and increased further to 221 in January 2019. In other words, the number of product options has more than doubled in just 12 months. Wide range of features The increasing range of features available is good news for customers. There [...]
Awareness of equity release is growing as more and more people approach retirement age in an asset rich but cash poor position. However, there is still a lot of confusion about the different products available and the terms used. For example, we know some people believe that equity release is where you sell and rent back your home, but in fact the two are completely different. So let’s clear things up by taking a closer look at some of the phrases and products you’re likely to come across. What is equity release? ‘Equity release’ is used to describe products that allow home owners over the age of 55 to access their equity without having to move out of their property. ‘Equity’ is the value of your home, minus any mortgage or loan secured against it. There are two types of equity release product available – a lifetime mortgage and a home reversion plan. All firms offering these equity release products [...]
Staying fit and healthy changes as we age and this can be a challenge. Some medical risk factors increase as we get older and some are also linked to our body mass and lifestyle. Heart disease, some cancers and even mental health and capacity can be impacted by how we live. The good news is that we now know so much more than we used to about the measures we can take to keep our bodies and our minds healthier for longer. To mark World Health Day we’ve compiled some top tips to keep us in healthy in retirement and beyond.Quality sleepAccording to neuroscientist and sleep expert Matthew Walker in his book, “Why We Sleep”, lack of sleep is linked to weight gain, lower energy levels, lower concentration, lower libido and a higher risk of cancer, depression, Alzheimer’s and heart attacks. His research highlights that sleep changes as we age. “Older adults do not have a reduced sleep need, but [...]
From the 27th July 2020 we will resume in person consultations with our clients.
We always put the welfare of our clients and advisers first.
All of our advisers will follow strict social distancing guidelines, our advisers will have adequate PPE and will follow any steps our clients feel necessary for their comfort and safety. If there any specific precautions or protocols you would like our advisers to follow relating to the visit or your home please make our client services team aware by emailing, firstname.lastname@example.org or calling us directly on 0333 000 2097.