Ipswich Financial Adviser

Archive for the ‘Equity Release’ Category

When taking out an equity release product on your home, you want to make sure you get as much help as possible.  You also want to find out from your advisers how much support and advice they are going to give you. For example, your adviser should be giving you advice as to how state benefits are potentially affected, if you take out an equity release scheme.

You will also want an adviser that gives you ongoing support after the equity release has been sorted out. You may have further questions or information sent from the equity release provider that you need clarification or advice on.

You will also need a solicitor when you are taking out an equity release scheme and you should ensure that the solicitor has experience in dealing with these products so that the legal aspects are taken care of professionally.

Finally, you should do your own homework so that you have some knowledge about equity release. A great place to start is the Financial  Services Authority (FSA) website for consumers http://www.moneymadeclear.co.uk I have included a link below to the equity release pages on this website. http://www.moneymadeclear.fsa.gov.uk/products/equity_release/equity_release.html

To ensure you get the right advice contact Thompson Financial Consulting Ltd where we have an equity release specialist to help you now and to give you ongoing advice and support.

Equity Release refers to Home Reversion plans and Life Time Mortgages – To understand the features and risks ask for a personalized illustration.

At Thompson Financial Consulting we often get contacted by potential client’s interested in Equity Release or Lifetime Mortgages as they can be know.

It is surprising when we ask questions, that many of these people do not know how much money they may need or require. If you are considering Equity Release then you need to look at what your current and future needs may be.

If you only need a small amount of money to start with, but you may need more in the future, the best plan is to take what you need and then release further money from your property when you need to. Many of the Equity Release providers will set a limit up to the amount you can draw out. This means you can plan your withdrawals when you need them rather than take all the money immediately and then have a larger amount of interest adding up against the debt.

By taking the right amount of money when you need it, you will potentially preserve more of the equity in your property to pass to beneficiaries, when the time comes.

If you need any help or advice with regards to Equity Release then please contact the Thompson Financial Consulting and we will be happy to help and give you the right advice.

Equity release allows people over the age of 55 to be able to withdrawal equity from their home without having to pay ongoing repayments. The monthly interest charged is rolled up over time. This is not a financial product that everybody would want but can be very beneficial for many people.

The top reasons Equity Release is taken are as follows

• Home Improvements
• Improving lifestyle
• Financial Security
• Paying off a mortgage
• Buying a car

These are just some of the reasons you may have. Equity Release has come along way since the product was first launched many years ago. There are many providers with many different types of product. This means you are able to find the most suitable Equity Release product for your circumstances.

Always ensure you get good impartial, independent financial advice, as taking out an Equity Release product is a very important financial decision.

Please feel free to contact Thompson Financial Consulting and we will be happy to guide you through your options and explain the benefits and downsides of Equity Release.

Equity Release refers to Home Reversion plans and Life Time Mortgages – To understand the features and risks ask for a personalized illustration.

Well you have now. These products allow people who are over the age of 55 to withdrawal money from their property and not have to make repayments to the money they have borrowed. The capital and interest that is owed, usually, rolls  up overtime and is repaid from the value of the house in the future. You have the right to remain resident in your home until you either die or go into long term care.

You can have a lump sum of money, take a regular income or a combination of these and either roll the interest up or pay the interest every month so that the debt does not increase.

Equity Release can be very flexible and can be used for many different things. Some of the popular reasons are often to help to increase peoples standard of living in retirement, for a new car, holidays or repay a mortgage or other debts.

Equity Release is fully regulated by the Financial Services Authority. It must be stressed that Equity Release is not for everyone, however, there are many people that might find it very useful.

If you would like further information on Equity Release please feel free to contact Thompson Financial Consulting.

*Equity Release refers to Home Reversion and Life Time Mortgages. To understand the features and the risks ask for a personalised illustration.