Expert equity release advisers in Caterham, Surrey – get free & no-obligation advice today
Would you like face-to-face advice about Lifetime Mortgages and other equity release products in Caterham, Chaldon, or Warlingham? If you are aged over 55, you may be able to access the money that is tied up in your home. A bit like a mortgage in reverse, equity release products allow you to spend tax-free money as you wish and the loan plus any interest repayments are only repaid after your death or when you have moved into long-term care.
Equity release products are booming in popularity and there are hundreds of products available on the market. Our impartial and expert equity release advisers can search across the whole of the equity release market to find the most suitable lender for your criteria.
Our award-winning equity release brokers are here to help you to understand equity release, so you can decide if it is right for you.
There are two main types of over 55 home loans or equity release products:
- Lifetime Mortgage: This is the most common type of equity release. The mortgage is secured against your home and you can remain there.
- Home Reversion Scheme: With these types of plans the money is raised when you sell all or part of your home to a home reversion provider in return for an income or lump sum, while you continue to have the right to live in your home.
Many people wonder if equity release is safe. These products are regulated by the Financial Conduct Authority (FCA) and this regulatory body ensures protection for consumers. We are also FCA-regulated, who provide additional safeguards, including a no negative equity guarantee, which means that you will never owe more than the value of your home.
Should equity release not be the right option for you, we can recommend other options such as downsizing. We also have access to other products, such as traditional and interest-only retirement mortgages.
Talk to our advisers now on 0333 000 2097.
Thinking of taking out an equity release mortgage in Caterham? Why release equity now
Equity release is often popular with homeowners in Caterham who are property rich but cash poor. UK house prices are rocketed over the years, so the chances are that you are sitting on a lot of wealth tied into your bricks and mortar.
Caterham is a vibrant town with easy access to London and the M25. With a fantastic choice of schools and other amenities, it has long been popular with families. If you are scratching your head and wondering, ‘how much equity could I release?’ then please use our helpful equity release calculator.
According to the property site Rightmove, in 2021 the majority of property sales were semi-detached homes that made an average of just over £456,000. Detached houses sold for an average of £713,000, with flats fetching over £297,000. The average price in Caterham was £479,000. Overall prices had grown by eight per cent from 2020 and 15 per cent on the 2019 peak.