Impartial equity release advice from experts in Birmingham
We are a professional equity release company offering specialist advice to homeowners over the age of 55 who are thinking about releasing equity in Birmingham, or Solihull. Equity release allows you to access tax-free cash tied up in your home.
Unless you want to, you do not have to make repayments during your lifetime , and you will retain ownership of your property.
We can offer free and no-obligation initial consultations to discuss equity release. This can be done face-to-face or by phone, or by video. We are equity release brokers who have access to the whole market, so we can talk to you about all the available products that could suit your needs.
If you decide to go ahead, we can help you at every stage of the process. We are regulated by the Financial Conduct Authority (FCA) and are members of the Equity Release Council (ERC).
Equity release and later life mortgages are our speciality and the sole focus of what we do, unlike some companies where equity release is simply part of their offering. We will give you all the information you need to decide whether an equity release is the right option for you. We can create a personalised illustration so that you can understand the features and risks. We have helped countless people release money from their properties – from apartments to mansions!
We can help you understand:
- How equity release works
- The benefits and the risks
- Alternatives to equity release
- Why it is important to access specialist advice
To find out more, please call us now on 0333 000 2097.
Over 55 home loans in Birmingham: Why release equity?
Birmingham is the most ethnically diverse city in the UK and is also considered the country’s ‘second city’. It is regarded as a fantastic place to live and work, and it champions innovation. It has a thriving cultural scene, more miles of canal than Venice, and the largest public library in the UK.
If you bought a property in Birmingham years ago, you would have seen its value rocket over the years.
Property site Rightmove states that in 2021 the average property price was just over £225,000. Most property sales during the previous year were terraced homes that fetched an average of £200,000, whilst semi-detached houses sold for an average of £240,000. Flats sold for an average of £156,000. Overall prices were up 11 per cent on their 2019 peak.
To see how much money you can release with our equity release calculator.
What is a Lifetime Mortgage, and how could it benefit me? Talk to our Birmingham equity release team
An equity release plan allows homeowners in Birmingham over the age of 55 to release some of the value locked up in their homes. Equity is the difference between the value of your property and any outstanding loans against it. You can withdraw money in one lump sum or a series of smaller instalments.
Hundreds of equity release plans are available on the market, and each will have their own eligibility criteria and features. There are two main plans: Lifetime Mortgages and Home Reversion Schemes.
Lifetime Mortgages are by far the most popular type of equity release. They are similar to residential mortgages except for some key differences:
- They do not need to be repaid in a certain time, and they will run for your lifetime.
- You can choose to meet the interest owed each month, but you do not need to pay anything back unless you wish to do so. Any interest owed is added to the value of the loan each month.
- You can never fall into arrears as there are no repayments required.
- The amount you can borrow is based on your age, property value, and sometimes your medical history.
- You do not need to borrow the maximum available.
- There are options to ringfence some money for your beneficiaries
Request a callback from our advisors
Is releasing equity in Birmingham safe?
There was a time when equity release had a bad reputation. Now the industry is regulated by the Financial Conduct Authority, and the ERC offers additional safeguards for consumers.
This includes:
- Lifetime Mortgages that come with fixed or capped interest rates for the lifetime of the loan
- A no-negative equity guarantee
- The right to move home as long as the new house meets the criteria set out by your provider
- The right to stay in the property for life
For further info, please see our FAQS.
Retirement mortgages in Birmingham: Is your retirement living up to your expectations?
Your retirement in Birmingham should be about enjoying what life has to offer. After years of hard work and paying off your residential mortgage, you do not want reduced income or limited cash flow to stop you from fully enjoying your life.
There are many reasons people decide to release equity from their property, including clearing an existing mortgage, gifting an early inheritance to the family, increasing finances for everyday living costs or paying for luxury holidays.
See our blog: Should you release equity in 2022? What you need to know.
For more details from our Birmingham equity release brokers, please call now
To talk to us about releasing equity in Birmingham, please call 0333 000 2097 or email info@accessequityrelease.com
To learn more about Lifetime Mortgages in Rugby or to explore releasing equity in Runcorn, get in touch.
