Release equity from your property in Sheffield, South Yorkshire

At Access Equity Release, our friendly, helpful, and professional equity release advisors can help you release equity in your home in Sheffield, Rotherham, or Neepsend, with no need to move. Equity release allows you to access money tied up in your home if you are aged 55 or over. You can access this as a tax-free lump sum, or access flexible borrowing.

Here at Access Equity Release, we are experts who can advise you on your best options. We can access the whole of the market to look for products that suit your financial circumstances.

Undoubtedly, equity release – which is sometimes called over 55 home loans or retirement mortgages – is a big decision and it is essential to get specialist equity release and financial advice. If equity release is the right decision for you, we can support you and your family throughout the process of releasing money from your home.

Do you have questions about equity release? Please call us now on 0333 443 9825.

Meet Martin Wade – Your local equity release adviser

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Martin Wade

What is equity release? Lifetime mortgages in Rotherham

Equity release allows homeowners, aged 55 or older, to release money from their property. There are two main types of equity release: Lifetime mortgages and home reversion schemes.

The most popular way to release equity is a lifetime mortgage. This is a loan secured against your property that is only repaid when you move into long term care or die. The loan is usually repaid from the proceeds of the sale of your property in Rotherham, Sheffield, or Walkley.

We only recommend products that have an Equity Release Council no negative-equity guarantee. This ensures that you will never pay back more than the amount that is received from the sale of your home, as long as the terms and conditions of the mortgage are being met.

Equity release offers a number of benefits:

  • You can get a tax-free cash lump sum
  • With a lifetime mortgage, you still own 100 per cent of the property
  • Once you have paid off any existing mortgage, you can spend the money on whatever you wish
  • You do not need to take the cash in one sum – you can ‘draw down’ the money as an income if you wish
  • You don’t need to make monthly payments with a lifetime mortgage – any interested can be ‘rolled up’ and added to the loan if you prefer.
explainer video thumb - Equity Release Advisers in Sheffield
explainer video thumb - Equity Release Advisers in Sheffield

How people spend S1 equity release funds

Equity release is an increasingly popular way to access cash in retirement. Many people in Sheffield enter into retirement, asset-rich, and cash poor. The amount of money you can access will depend on your individual circumstances – use our equity release calculator as a guide.

  • It is not unusual for people in their fifties to still have a mortgage so they may wish to clear their mortgage or other outstanding debts. Read our blog on: Can equity release pay off debt?
  • Do you fancy a new kitchen or bathroom? Equity release can be a way to make home improvements affordable.
  • Many people use equity release cash to make their retirements more comfortable.
  • Many people use equity release money to help family members get on the housing ladder, or paying for a wedding or education.
Try our easy-to-use calculator

Why use our Sheffield equity advice brokers?

There are many reasons people choose to use our equity release service in Sheffield and here are just some of them:

  • Unbiased: We are independent equity release advisers,
  • Specialist: We are equity release specialists who can offer impartial advice and search the whole of the market to find the right product for your needs. We can also access other financial products, such as residential mortgages.
  • Accredited: We are authorised and regulated by the Financial Conduct Authority (FCA) and are members of the Equity Release Council, which promotes safe equity release products and protects the interests of homeowners.
  • Trustworthy: We are proud of our reputation for being trustworthy and much of our business comes from word-of-mouth referrals. We have also attracted acclaim in the trade: At the 2019 MoneyFacts Investment Life and Pensions Awards 2019, we were named as Equity Release Advisors of the Year.

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    Here are some answers to the most frequently asked questions about equity release.

    With a lifetime mortgage – the most popular type of equity release plan – you will always remain the owner of your property. A lifetime mortgage is a loan secured against your home.

    To be eligible for equity release you must fall into a handful of criteria. These include: You must be over 55; you must be a homeowner and own property in the UK; and your property must be worth a minimum of £70,000. The minimum age and property value will vary between product providers.

    Yes, an interest-only lifetime mortgage allows you to make monthly repayments. As long as you keep up with these payments, the amount you owe will never increase. Unlike conventional mortgages, the interest rate for lifetime mortgages can be fixed for life.

    Releasing equity from your home will not affect your state pension, but could affect other means-tested benefits that you may receive in retirement, including pension credits, council tax benefits, and savings credit.

    Equity release is based on your property and age and as long as you meet the eligibility criteria, your credit history will not affect your ability to take out an equity release plan.

    No, not if you do not want to. With a lifetime mortgage, there are typically no monthly repayments to make as the loan, plus rolled-up interest, is repaid when the plan comes to an end.  This is usually when the mortgage holder passes away or moves in to full time care.  If there are two mortgage holders then this happens when both have passed away of moved into care.

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

    Call our equity release experts in Sheffield now

    Our lifetime mortgage and equity release advisors in Sheffield can answer your questions now on 0333 444 9825 . Alternatively, please send an email to mwade@accessequityrelease.com and we will get back to you.

    Appointments available in :-

    Neepsend, Grimesthorpe, Attercliffe, Heeley, Darnall, Hillsborough, Wadsley, Nether Edge, Longley & Carbrook

    home-reversion-plan

    FIND OUT MORE

    If you would like to know more about equity release then please get in touch.

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