Whole-of-market equity release advisers in Gloucestershire

Are you looking for the most simple and informed way to learn more about lifetime mortgages, over 55 home loans, and other equity release products in Gloucestershire? Call the team at Access Equity Release. We are specialist equity release advisers and have helped hundreds of people understand how they can access the money tied up in their homes.

As a leading, friendly, and award-winning equity release company, we also have access to the whole of the market, so we can assess hundreds of products to find the right one for you. Whether you want to achieve financial freedom in retirement, invest in a holiday home or make property improvements, or give the gift of a living inheritance, equity release can help you realise these goals.

Equity release money is completely tax-free and can be spent as you wish. Unlike traditional mortgages, monthly repayments are optional. However, it is important to know that equity release is not always the right choice for everyone because it will reduce the value of your inheritance and has other implications.

Our trusted equity release advisers will get to know you and your aims and financial position, so we can advise you about the best options for your needs. As well as equity release products, we can also access other products that may suit you including residential mortgages and retirement interest-only mortgages.

All initial equity release advice and consultations are completely free of charge and there is never any obligation to proceed. We will set out the facts and answer any questions you may have, so you can make the right decision for you. We are also regulated by the FCA and follow the strict code of conduct set out by the Equity Release Council.

Interested to find out more about later-life mortgage lenders? Call us now on 0333 000 2097.

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What is equity release and why might I consider releasing equity from my Gloucestershire property?

Equity release is a way of accessing the cash tied up in your property  (known as the equity) without having to downsize or move. Equity release in Gloucestershire is growing in popularity as many people are turning to their property as a source of additional income because over the years the equity is likely to have grown substantially. With increased product flexibility, low interest rates, and new products being released all the time, we can help you understand the right options for you.

Gloucestershire is regularly highlighted across surveys as having some of the best places to live. In one recent Quality of Life survey, which compares local authority areas on 26 different factors, Tewkesbury and the Forest of Dean were highlighted as some of the top locations in the county. Growing house prices will reflect this popularity.

According to Rightmove in 2020, the average property price was over £335,000. The majority of property sales were detached homes that sold for an average of just over £504,000. Semi-detached homes sold for an average of £308,000 and terraced homes for an average of £270,000. In 2020, prices had grown by 14 per cent on 2019 and 18 per cent on 2018.

To give you a ballpark estimate of how much money you could release, use our helpful equity release calculator.

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Gloucestershire lifetime mortgages and different types of equity release

A lifetime mortgage is the most popular type of equity release plan in Gloucestershire and allows you to release equity while retaining ownership of your property. There are many different products from which to choose. You can opt for a plan that pays you a single lump sum upfront, or one that allows you to draw down cash in stages. These are called drawdown lifetime mortgages.

Depending on the type of plan you choose, you don’t normally need to make any repayments, as the interest will be rolled up and added to the loan. The total sum will be paid when you move into long term care or die.

Alternatively, you may decide to make monthly interest repayments, so the amount you owe does not increase. There are other different features of lifetime mortgages, including separating some inheritance, to protect the interests of your beneficiaries. For your peace of mind, all products we recommend offer a ‘no negative equity guarantee’. This means you will never owe more than the value of your property.

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The other type of plan is known as a Home Reversion plan where there are no rolled-up interest payments but you sell all or part of your property in return for a tax-free lump sum of money. You then stay in your house as a tenant, paying no rent. However, this is a far less popular choice.

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    Call our equity release team on 0333 443 9825

    Retirement mortgages in Gloucestershire: How to spend the money?

    Are you wondering about the reasons for releasing equity in Gloucestershire? When you have retired it can be a challenge to find the funds to enjoy life to the maximum and many people look for alternative ways to boost their income to be used alongside their pensions and any investments they may have made over the years.

    The most popular reasons include:

    • To make home or garden improvements, such as new kitchens, bathrooms, extensions, or landscaping projects
    • Paying outstanding debts, including mortgages
    • Funding holidays and travelling more
    • Gifting to friends and family to pay for wedding or education costs, for example
    • Help with regular living costs and bills

    Read our blog: Is equity release a good idea in 2021?