Book a free and no-obligation equity release consultation in Peterborough

Did you know that equity release clients borrowed over £4.8billion in 2021? The equity release market is growing at a phenomenal rate and if you are looking for specialist equity release advice in Peterborough, Market Deeping, or Stamford, the team at Access Equity Release can help.

Our experienced equity release brokers have access to the whole of the equity release market, so they can help you choose an equity release plan that is right for you. They will also spend time getting to know you and telling you everything you need to know about the latest equity release mortgages, so you can feel confident that you are making the right decision.

Equity release plans allow homeowners over the age of 55 to access a portion of the money tied up in their property and this is released tax-free and can be used in any way you wish including taking the holiday of a lifetime, cash gifts for family members, home improvements, or other reasons.

We are award-winning equity release specialists with a wealth of experience in the world of over-55 home loans and retirement mortgages. The industry has changed dramatically over recent years and there are now more competitively-priced products on the market than ever. As an FCA-regulated company that is also proudly affiliated with the Equity Release Council, we aim to offer the best impartial and independent advice. We complete up-to-date research and operate with transparency at all times.

All initial equity release consultations are completely free of charge, with no obligation to proceed. We can offer help and assistance at any time. We also welcome friends and family to be involved in all discussions.

For further information about later life mortgages, please call now on 0333 000 2097.

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Over 55 home loans in Peterborough: What is the property market doing?

We know that releasing equity in Peterborough is a big decision and that the decision to release equity can be personal. We can meet you at your home or via video call and will run through all of your options and help you decide which could be right for you we also have access to residential mortgages and retirement interest-only mortgages.

In the property market, growth has outstripped inflation and alongside an ageing population, this has made equity release an increasingly popular choice for people wishing to get the most out of their requirements. The average house price in 1980 was £23,000 and in 2020, the figure rose to over £252,000. Whilst wages have gone up, it is not at the same levels.

Peterborough has long attracted families and individuals looking for affordable homes, great schools, and fantastic facilities.

Property site Rightmove states that in 2021 the majority of property sales in 2021 were detached homes that fetched an average of just over £332,000. Terraces sold for an average of £171,000, with semi-detached homes fetching over £217,000. The average property price stood at just over £234,000 and overall prices were up 13 per cent from their 2019 peak.

Find out how much money you could raise by using our equity release calculator.

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How do equity release plans in Market Deeping work? Lifetime Mortgages and Home Reversion schemes

There are two types of equity release plans available in Market Deeping, Peterborough, or Thorney. A Lifetime Mortgage allows you to borrow money against the value of your home while you are still living there. You can have the option to pay some, all, or none of the monthly interest. When your home is sold (when you move into long term care or you pass away) the mortgage will be redeemed, along with any accrued interest.

The other type of equity release plan is a Home Reversion Plan and this allows you to sell all or part of your home in return for a lump sum or regular payments. You can live in your home rent-free for the rest of your life, though it will be your responsibility to maintain your property. When your property is sold, the proceeds are shared according to the remaining proportions of ownership.

The vast majority of equity release plans that we recommend are Lifetime Mortgages. These products are available with a range of features designed to suit you, such as a drawdown feature or the ability to ringfence some inheritance for your family.

Read our blog: Why are so many people releasing equity from their homes?

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    Lump-sum and drawdown Lifetime Mortgages in Peterborough

    Lifetime Mortgages in Peterborough allow you to keep 100 per cent ownership of your property and give you several ways you can access money from your home depending on your goals. A Lump Sum Lifetime Mortgage plan provides you with a one-off lump sum payment with no restrictions on how you spend the money.

    Drawdown Lifetime Mortgage plans are like Lump Sum Lifetime Mortgage plans except they allow you to arrange an initial equity release with the facility to take portions of equity over time with no restrictions on how you spend the money. The benefit to this is that you only pay interest on the money you have received and this will reduce the total amount of interest payable over the term of the plan. Read our FAQS for more details.