Recommended and award-winning equity release advisors in Herefordshire

Are you based in Herefordshire and thinking about equity release? Many people over the age of 55 are thinking about how they can generate an income to improve their quality of life during their retirement years. Access Equity Release is an independent team of equity release specialists who can advise you about all aspects of equity release.

Our equity release brokers are FCA-regulated and follow the code of practice set out by the Equity Release Council (ERC). This is a voluntary body that ensures members act with integrity. We have the experience and expertise to offer a personal service. Our advisers are completely independent, so can access the whole of the equity release market to find the right products for you. You will always speak directly to the same equity release specialist, who will be able to support you at every stage of the process.

All later life mortgages and over 55 home loans are always tailored to your needs, situation, and goals. We aim to make a complex process simpler by identifying the right solutions for your needs.

We feel it is important for you to fully understand the implications of equity release and how much you will pay. Our advice is always completely honest and transparent. You will never be pushed into making a decision and we can also identify other possible financial products that may suit you including retirement interest-only mortgages and residential mortgages. Read our blog: What are the alternatives to equity release?

Our equity release consultants are always happy to meet with you in the comfort of your home to gain a clear understanding of your financial situation and more about your needs. We can confirm that you are eligible for equity release, advise you on how much you can release, and discuss how it could affect your entitlement to benefits. Any initial chat is always completely free.

To book an equity release appointment, please call now on 0333 000 2097.

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Releasing equity in Herefordshire: Let your property help you reach your goals

Many people choose to factor equity release into their retirement planning and use it to supplement their income for a myriad of different reasons. House price growth has meant that many people are sitting on a lot of equity.

Famous for its Hereford cattle, Herefordshire is known for its beautiful countryside and smart market towns. Home to the Malvern Hills and Wye Valley, it has many Areas of Outstanding Natural Beauty.

In 2020, Rightmove stated that the average property price was over £316,000, a similar figure to nearby Worcestershire. The majority of property sales involved detached homes that sold for an average of just over £418,000. Semi-detached homes sold for an average of £245,000 and terraced homes for an average of £204,000. The most expensive area to buy property in the county was listed as Much Marcle, where property prices were an average of £823,000. In 2020, prices had grown by 16 per cent on 2019 and 20 per cent on 2018.

Want to know how much equity you could release? Use our equity release calculator.

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Herefordshire equity release: What are my options?

There are two main types of equity release plans in Herefordshire: Lifetime Mortgages and Home Reversion Plans.

A Lifetime Mortgage is secured against your home like a normal mortgage, but you don’t need to pay monthly payments. Instead, interest on the mortgage gets rolled up and added to the balance. These are the far more popular choice for equity release because with a Lifetime Mortgage you retain full ownership of your home.

There are ways to keep the balance on your Lifetime Mortgage down, such as making payments towards the plan. Some providers have the option to make monthly interest repayments built in and others allow you to pay a certain percentage of the balance annually. There are other options such as receiving the money in one go or a Drawdown Lifetime Mortgage, where you can access smaller sums of money and only start to pay interest on these sums when you have received them. You can also ringfence part of your property’s value for inheritance. All the plans that we use provide a no negative equity guarantee, which means you will never owe more than the value of your property.

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The other type of equity release plan is called a Home Reversion plan. This involves selling all or parts of your home to the provider for a lump sum. There is no interest or rent to pay to the provider. With both Lifetime Mortgages and Home Reversion schemes, you retain the right to live in your home until you leave the home permanently or you die. If you take the plan out jointly with a partner, the plan will run until you both die or leave the home. See our short explainer videos.

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    Call our equity release team on 0333 443 9825

    Over 55 home loans in Herefordshire: The reasons

    When you are retired it can be hard to access the money you need to live the life that you wish. The equity release market has become increasingly competitive over recent years; interest rates have remained low, there are more products, and you can tailor equity release plans to suit your needs.

    • With equity release, you can get the lump sum of money you need
    • You can help your family with costs like getting onto the property ladder or funding university
    • You can get the home improvements you have always dreamed of
    • You can be debt or mortgage-free
    • You could use the money to go on holiday, fund private medical care, buy a car or holiday home… the list is endless!