Accurate advice about equity release and later-life mortgages in York

Equity release mortgages are an increasingly popular way to release some of the value in your home in York or Heslington. Maybe you are looking to make home improvements, go travelling, or pay for care at home? Whatever your reasons for wanting to release equity, we can help you.

We are an award-winning and specialist team of equity release advisers who can search across the whole of the equity release market and research across the hundreds of products to find the right one for you.

Our equity release brokers understand that people want to make the most out of their retirement but rising living costs combined with smaller pension pots can make that hard. We will meet with you in the comfort of your home or another location and will take time to understand your needs, so we can advise you accordingly. Equity release allows you to stay in the home that you know and love and can give you more financial freedom but there are many other considerations that it is important to be aware of.

  • Receive impartial equity release advice
  • Unlock tax-free cash
  • Deals compared from across the market
  • Knowledgeable and expert advice
  • Free no-obligation equity release consultations

With hundreds of Lifetime Mortgage plans available, it is essential to seek the advice of an over-55 home loans expert. We are approved Equity Release Council members, so all plans are approved by them and contain a ‘no negative equity guarantee’. This means that, whatever happens, you, or more specifically your estate, will never owe more than the property is worth when it is sold.

We can find the best equity release deals for you. Please call us now on 0333 000 2097.

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Retirement mortgages in York: Why release equity from your property?

York is renowned for its history and architecture, York is a bustling city loved for its vibrant foodie and culture scene. Located in North Yorkshire and 25 miles to the north east of Leeds, it also has excellent transport links. It is regularly voted as one of the best places to live.

If you invested in bricks and mortar in York some time ago, you will have seen the value of your investment rocket. Property site Rightmove states that the average house price in York in 2021 was just over £307,000. The majority of property sales were terraced homes that sold for an average of just over £307,000. Semi-detached houses sold for an average of £300,000, with flats fetching over £220,000. Overall prices were up by seven per cent from 2020 and 14 per cent on the 2019 peak.

The postcode of YO1, which is York city centre has the most expensive properties, including Purey Cust, which was named as York’s most expensive street in September 2020.

To see how much money you could raise with equity release, please see our equity release calculator.

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The main types of over 55 home loans and equity release in York

There are two main types of equity release products and our advisers near York will be able to tell you more.

  • Lifetime Mortgages: These are the most common type of equity release and allow you to borrow money secured against your home. The loan, plus any interest, is paid back when you move into long-term care or pass away.
  • Home Reversion Plans: These enable you to raise money by selling part, or all of your home, in exchange for a lump sum of money. You can continue living in your home until you move into residential care or pass away.

It is essential that you understand all your options and seek impartial advice. Lifetime Mortgages have many features available including funds that are available interest-free until you need them, plus the ability to pay back interest each month to prevent it from accruing and therefore substantially reducing the amount of the loan.

We are not linked to lenders, so can recommend an equity release product that is right for you. Equity release is not for everyone and we will explain the implications. We can also access traditional mortgages and retirement interest-only mortgages.

Do you have questions? See our FAQS as the first port of call.

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    Top five popular reasons for releasing equity in York: Talk to our local equity release company

    There are many reasons that people choose to release equity. Common reasons include:

    • Paying for home upgrades: This may include extensions, renovations, or landscaping to boost the value of your property and improve quality of life.
    • To pay off an existing mortgage or debts: If you want to stop paying monthly repayments, an equity release mortgage could be the answer.
    • For everyday living costs: Many people are heading into retirement with less cash at their disposal. Equity release can mean more money for day to-day costs.
    • To travel: Whether it is a once in a lifetime holiday or to travel more, many people choose to use the money to see the world.
    • To help family members: Some people choose to give the gift of a ‘living inheritance’ so they can see their loved ones enjoy the money whilst they are still alive.

    Read our blog: Should you release equity in 2022? What you need to know.

    Speak to one of our friendly team