How your Somerset home might have increased in value & why equity release can be a wise choice
Since the beginning of time, investment in property has always been considered a wise choice because, despite fluctuations, the overall trend is always upwards. Property values will always rise when a low supply of homes for sale meets strong buyer demand and other factors will play into this increase. How long have your owned your Somerset home? According to Rightmove, during 2020 most house sales involved detached properties that sold for an average of just over £426,000. The average overall price of a property in Somerset is just over £305,000.
With many desirable towns and villages in the county, Somerset has always been popular and has faced rising demand for property over recent years. According to Somerset Live, Bruton saw the biggest price hike – increasing by 40 per cent in just twelve months during 2020 as people sought to move to the country, leaving big cities behind. Other locations that saw big price increases included Evercreech near Shepton Mallet and Norton Fitzwarren. See our blog: How much is my house worth?
We provide a face-to-face advice service where we can get to know you and understand your financial circumstances. As well as equity release products, we also have access to other financial products including retirement interest-only mortgages. Equity release is not always the right choice for everyone, to understand the features and risks please ask for a personalised illustration. As well as equity release, we can look into these other options and raising cash by alternative means. We will give you all the information that you need to make an informed choice about whether equity release is right for you.
We will never charge you for our initial consultation and there is never any obligation to proceed. If you are interested to know how much money you could raise, use our equity release calculator.