Dependable equity release specialists in Earls Court, London

If you are interested in equity release and Lifetime Mortgages in Earls Court, West Kensington, or Barons Court, then call Access Equity Release. We provide professional and trusted advice about later-life mortgages and other financial solutions for homeowners over the age of 55.

Access Equity Release is directly authorised and regulated by the Financial Conduct Authority (FCA) and we are also accredited members of the Equity Release Council. This means that we only recommend products that offer a no-negative equity guarantee and you will never owe more than the value of your property.

We take the time to get to know our clients individually and can visit you at home, a place of work, or another location. We are proud to offer completely independent, friendly, and impartial advice and we have access to the whole of the equity release market, so we can search through hundreds of products to find the right one for you. We can discuss the advantages and implications of taking out an equity release mortgage and we can also access other products, including retirement interest-only mortgages and residential mortgages.

The amount you can borrow depends on various factors, including the value of your home, your age, and your health. Check out how much money you could raise by using our equity release calculator.

If you would like to organise a no-obligation equity release consultation, please call 0333 000 2097 and we can book a no-obligation consultation.

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Why release equity in Earls Court? A property market overview

Do you own a property in Earls Court? Over recent years, Earls Court has undergone a dramatic regeneration and this has been reflected in the house prices. The development here has seen the housing market outperform London as a whole as people have migrated from nearby Kensington and Chelsea.

Rich in history and architectural styles, Earls Court is popular with singles and families. The area boasts excellent transport links, great schools, and a great atmosphere. Like many places in London, if you invested in a property some time ago, the chances are you will have a lot of equity tied into your home.

Just look at the figures: According to figures on Rightmove in 2020, the average house price in Earls Court was over £1.4million. The majority of property sales were flats that sold for an average of just over £1million. Terraced homes fetched £2.9million and semi-detached homes made an average of £14million. In 2020, prices were up a huge 20 per cent on the previous year and 11 per cent on the peak of 2018.

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How do lifetime mortgages and later-life mortgages in Earls Court work?

Equity release is a way to release equity from your Earls Court or West Brompton property whilst still living there. Available to property owners over the age of 55, whose properties are worth £70,000 or more, the money is then yours to use as you wish. It is tax-free and unlike residential mortgages, you do not need to make repayments. Even if you have not paid off your mortgage yet, you could still be eligible for equity release, but you must use the money to first pay off any outstanding mortgage.

There are broadly two categories for equity release: Lifetime mortgages and home reversion schemes. A lifetime mortgage is the most popular choice and allows you to release a lump sum of tax-free cash from the value of your home. You will continue to be the owner of your house and live there until you pass away or move out into long-term residential care. If you take out a lifetime mortgage as a couple, it is when the last remaining homeowner dies or moves out. At this point the loan, plus interest, is paid back from the proceeds of the sale of the property.

Any lifetime mortgage will reduce the value of your estate. However, there are features available with some products that allow you to pay off some or all of the interest to stop it rolling up, or to ringfence some inheritance for your family.

With lifetime mortgages, interest rates are fixed for life. You can also move or downsize subject to the new property meeting certain criteria.

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    SW5 home reversion schemes

    A home reversion scheme or home reversion plan involves selling some or all of your home. You receive the proceeds in cash, in either one lump sum or a series of instalments, and will continue living in your home rent-free. This is the least popular type of equity release product. You will also receive less than the market value of your home because the provider will not be able to sell the property. These products account for less than 1 per cent of products available on the market. With a lifetime mortgage, you will benefit from any increase in property prices over the term of the mortgage.

    When we meet with you we can look at your whole financial picture and make recommendations about over 55 home loans. See our blog: What are the alternatives to equity release?

    Common reasons for equity release in Earls Court

    People choose to release equity from their homes in Earls Court for all sorts of reasons and the money can be used exactly as you wish. Common reasons include: