We are committed to helping clients in Cornwall, UK, with equity release

If you are considering releasing equity, you should always seek independent and specialist advice. Here at Access Equity Release, we are committed to getting to know you and your circumstances, so we can advise you about the best equity release plans for you. Working in Falmouth, Redruth, and throughout Cornwall, we can help you understand if releasing equity from your home is the right choice for you.

We are equity release and retirement mortgage specialists and we have access to the whole of the equity release market, so we can search through hundreds of products to find the plan that best meets your individual needs and circumstances. We stay abreast of all product developments so we can find the right products for you.

What does equity release mean for you? This means you can turn part of the equity of your home into a lump sum of cash. We are regulated by the Financial Conduct Authority (FCA) and are accredited with the Equity Release Council (ERC), so all plans come with a no negative equity guarantee. We also follow the ERC’s strict Code of Conduct, which is designed to protect consumers and keep you safe.

In any free initial chat, which can take place in the comfort of your home, we can offer you impartial and independent equity release advice by looking at your options. We will also cover the drawbacks and implications of equity release because it is not always right for everyone, as it could affect potential inheritance or your entitlement to means-tested benefits. After an initial consultation, there is never any obligation to proceed.

For more information or to book an appointment, please call 0333 000 2097.

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Releasing equity and retirement mortgages in Cornwall

Equity release is available to homeowners in Cornwall over the age of 55. It involves unlocking the money tied up in your property. See how much you could raise by using our equity release calculator.

There are many reasons why property values in Cornwall have shot up over recent years. Universally adored for its beautiful beaches and pretty harbour villages, it is home to some of the most desirable properties in the UK. People searching for a better quality of life frequently turn to Cornwall for its golden beaches and outdoorsy lifestyle.

Rightmove states that the majority of property sales in 2020 were detached homes that fetched an average of just over £447,000. Terraced houses sold for an average of £240,000, whilst semi-detached houses sold for an average of £264,000. In 2020, prices had grown by 15 per cent from 2019 and a huge 26 per cent from 2018. The most expensive area was Rock, where properties sold for £1,119,000.

According to a recent poll some of the other top areas to live in the county include Lelant, St Austell, Looe, Bude, Truro, Penzance, Wadebridge, and St Agnes.

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Lifetime Mortgages and different types of equity release

Are you thinking about over 55 home loans or releasing equity in Cornwall? There are two main types of equity release. The most popular type is called a Lifetime Mortgage and with this type of equity release plan, you continue to own 100 per cent of your home.

The other type of equity release plan is known as a Home Reversion Scheme, which involves selling some or all of your home in return for a lump sum of cash. This is far less common and generally, the plans that our clients choose are all Lifetime Mortgages.

The benefits of equity release and Lifetime Mortgages include:

  • No requirement to make any monthly repayments, unless you wish to do so
  • You can receive a lump sum tax-free which can be spent exactly as you wish
  • You can still have the choice of moving home in the future (depending on the lender’s criteria)
  • You can protect a percentage of your property for your loved ones
  • You can continue living in your home until you die or move into long term care
  • Interest rates available are fixed for life
  • There are plans with options to repay some or all of the interest if you wish
  • You can choose a plan with a drawdown option to access the money when you need it
  • No-negative equity guarantee

There are now hundreds of plans to choose from, with many features offering increased flexibility. For more information, see our FAQS.

Many clients are concerned about what happens when they pass away or move out of their homes. Please see our blog: What happens to my equity release plan when I die?

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    Retirement mortgages in Cornwall: Do you qualify?

    To qualify for equity release in Cornwall, you must:

    • Be aged over 55
    • Be a homeowner with a property in the UK
    • Your property must be worth a minimum of £70,000
    • You must have little or no mortgage left on your property

    Our qualified advisors will be able to discuss your options and the plans available. This will give you the knowledge you need to decide if equity release is right for you. See our short explainer videos.

    Equity release money can be spent on whatever you wish. Common uses include holidays, home improvements, gifting to family, and day-to-day living costs.

    Speak to one of our friendly team
    Call our equity release team on 0333 443 9825