Independent equity release specialists in Oxfordshire, UK
Are you taking the first steps to explore whether equity release is the right option for you? Access Equity Release are a team of highly-regarded equity release specialists working throughout Oxfordshire and the South East. We offer the best equity release advice and knowledge based on your individual circumstances. We have access to the whole of the market and we are not tied to any panel of lenders or products and this means our advice is completely impartial.
Our award-winning equity release team has a wealth of knowledge regarding all aspects of equity release and we can detail the legal implications of making this decision, as well as the many advantages or drawbacks. We are always happy to provide face-to-face advice at your home or in our office and we can organise a video or telephone consultation if you would prefer
We are also authorised and regulated by the Financial Conduct Authority (FCA).
Please dial 0333 000 2097 to find out how we can help.
Lifetime mortgages and other equity release plans in Oxfordshire
The value of your home in Oxfordshire, less any outstanding mortgage, is known as the equity in your property. Equity release is the name given to a range of financial products that can convert equity in your home into a tax-free sum of cash for your own use.
There are two main types of equity release products: Lifetime mortgages and home reversion plans. A lifetime mortgage is the most popular type of equity release and is a loan secured against your property. It can either be provided as a lump sum or taken as ad-hoc amounts or sued to provide a regular sum of cash to be used as you wish. Interest is added at a fixed rate and no monthly repayments need to be made unless of course you choose to do so. The loan plus any interest not serviced is repaid when your property is sold, which is when you go into long-term care or pass away.
All equity release plans tend to have these common factors:
- Equity release has a minimum age of 55
- You can continue to live in your home as long as you wish
- You have the choice to make interest payments to avoid this ‘rolling up’
- You can choose to move to a new house and your equity release plan transfer to the new property subject to it being suitable
- Cash is always tax-free and can be used as you wish
- There is no need to make any repayments until the plan ends
Releasing equity and Oxfordshire house prices
If you own a home in Oxfordshire you may be wondering how much it might be worth and what that might mean for you if you release equity. If you would like an informal chat or a visit to talk through the options available to you, the team at Access Equity Release would be delighted to help. We can visit you to ensure that you and your family fully understand the options available to consider. All advice will be specific to you and your family.
According to 2020 figures from Rightmove, the average property price in Oxfordshire was over £448,000. The majority of sales were detached homes, which sold for an average of over £617,000, whilst semi-detached homes made £391,000. Overall in 2020, prices were up by 8 per cent from 2019 and 7 per cent from the 2018 peak. Buyer demand in the area is at an all-time high and according to data, in some areas, they increased by over 32 per cent between August 2015 and August 2020. The biggest rises have been seen in Chalgrove, which is 10 miles from Oxford; Cowley, and Littlemore. The area appeals to buyers because of its great transport connections, stunning rural location, and bustling towns. With the world-famous University city surrounded by beautiful countryside, there are also countless charming villages, such as Banbury and Chipping Norton.
So if you bought a home back in the 90s or earlier, prices in some areas will have tripled since then. We can help you explore the various options that may be available to you.