Speak to an expert equity release advisor in Ipswich today

Many retired people in Ipswich, Felixstowe, or Hadleigh have to manage on a small pension and limited savings and are looking for ways to boost their finances, so they can enjoy their later years without having to worry about money.

House prices have grown rapidly over the past few years and equity release plans, sometimes called over 55 home loans and retirement mortgages – are ways of releasing money from your home. Whether you wish to pay for a holiday, make home improvements or simply enjoy more money for day to day living costs, these plans allow you to borrow the money against the value of your home with the debt being repaid from the sale after your death or when you move into long-term care.

There are hundreds of equity release plans on the market and these are complex financial products so you must seek good equity release advice. Our independent and impartial equity release experts will take the time to get to know you and your financial aims so we can advise the best possible solutions for your requirements.

We can help you understand the drawbacks and benefits of equity release and look at alternatives you might like to consider.

  • Our equity release advisors offer clear and jargon-free advice
  • We have access to the whole of the equity release market, so can search across hundreds of products to find the right ones for your needs
  • The money you release is tax-free and can be used for anything you wish
  • We offer free and no-obligation equity release consultations and there is never any pressure to proceed
  • We encourage friends and family to be involved in the decision-making process
  • We are FCA regulated and members of the Equity Release Council, so we only recommend products that are endorsed by them

We can give you clear guidance at any stage of your equity release journey. Please call now on 0333 000 2097.

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Releasing equity in Ipswich: How rising property values could benefit you

Located in the River Orwell, Ipswich has excellent transport links, large open and green spaces, and a fast-growing economy. There are some lovely areas and house prices have risen steadily over the years. Have you invested in bricks and mortar in Ipswich?

Property site Rightmove states that in 2021 the average property price stood at just over £259,000. The majority of property sales during 2020 were semi-detached homes that fetched an average of just over £248,000, whilst terraces sold for an average of £209,000. Detached homes commanded over £417,000. Overall prices were up by a huge 5 per cent and 12 per cent on their 2019 peak.

If you are wondering how much money you could release from your property, just tap some basic details into our equity release calculator.

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What types of equity release are there available in Felixstowe? Home Reversion Schemes and Lifetime Mortgages

There are two main types of equity release schemes in Felixstowe, Ipswich, or Stowmarket: Lifetime Mortgages and Home Reversion Schemes. A Lifetime Mortgage is a mortgage secured against your home, which allows you to release a tax-free amount of money, either in a lump sum or in smaller amounts.

A Home Reversion Plan involves selling all or part of your home to a plan provider in return for a cash lump sum.

The vast number of products are Lifetime Mortgages. They work a bit like an ordinary residential mortgage, except:

  • There is no fixed term and they run until the house is sold when the homeowner dies or moves into long-term care.
  • No repayments of interest are required unless you wish to make them
  • There are no affordability checks by the lender
  • The older you are, the more you a likely to be able to borrow

Lifetime Mortgages are available with many different features. These include the ability to ringfence some of the value of the property for inheritance. You can also choose to access the money in one lump sum or smaller amounts, as and when they are needed. Because interest is only charged on the cash you have released at the time, these plans will save you money. To find the answers to common questions, please see our FAQS.

Why are more homeowners releasing equity?
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    IP1 retirement mortgages: How can I use the money?

    People in Ipswich choose to release equity from their properties for many reasons. Everyone will have different reasons why this wish to release money from their homes.
    This includes:

    • Debt repayments: Some people choose to pay off their residential mortgages or other outstanding debts.
    • Holidays: Many people choose to release equity so they can enjoy a once-in-a-lifetime holiday or travel more.
    • To help loved ones: With rising house prices, many people use equity release as a ‘living inheritance’ to help children with property and education costs.
    • Medical care: Many people choose to release equity to finance care at home or to pay for private medical care.
    • Everyday costs: Some people choose to use the money for everyday living costs so they can enjoy their retirement more.
    Speak to one of our friendly team