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Releasing money from your home could give you a more comfortable retirement.
• Top up your income
• Make home improvements
• Pay off a mortgage or other debts
• Go on a holiday of a lifetime
• Help your family with university fees or buying their first home
Owning a house and making it your home takes time and commitment. If your heart is set on staying in your home, for as long as possible rather than downsizing, then equity release could release the cash tied up in your property.
Equity release may not be right for everyone. It may affect your entitlement to state benefits and will reduce the value of your estate.
There are two ways to release money from your property
Lifetime mortgage: You take out a mortgage on your home. You still own your own home and you don’t make any monthly payments, as the mortgage becomes repayable when you, or your executors, sell your home. Moving house is still an option, if you transfer the plan to another suitable property; although not all schemes offer this facility.
To understand the features and risks, ask for a personalised illustration.
Home Reversion Plan: You sell some, or all, of your home to a third party and retain the right to live in the property, rent free, for the rest of your life, or until the house is sold. Any increase in the value of the property belongs to the new owner.
Scottsdale Consulting does not advise on or recommend Home Reversion Plans.
Advice you can trust
Equity Release is a lifetime commitment so it is crucial to select the right scheme.
At Scottsdale Consulting, we do everything in our power to make sure you get the best scheme for you. Our own code of practice in this area guarantees our service quality and upholds our ethics.
• We will only recommend to you lifetime mortgages.
• We only recommend you Equity Release schemes offered by members of Safe Home Income Plans (SHIP), an organisation dedicated to the protection of equity release customers. This ensures providers adhere to a strict code of practice.
• Our fully qualified and experienced advisers will always go through your individual circumstances in person and guide you through the options open to you.
• Our advisers will answer all your questions and review all the equity release schemes that meet your needs and then make a formal recommendation in writing.
• We insist that your solicitor goes through all the terms, conditions and implications of the equity release contract with you to make absolutely sure you understand the commitment you are making.
If you would like to us to help you release funds from your home, call us on 01908 226400.
A fee of £595 payable at the outset. We will be paid by commission from the lender. Or you could choose a fee only option where you will pay a fee of £1995 and we will pass on any commission paid by the lender to you. To understand the features and risks of a lifetime mortgage or home reversion plan ask for a personalised illustration.