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Is Equity Release Right for Me?


Before considering Equity Release you should ask yourself:

1. ‘Am I prepared to use the value locked up in my home?’ If the answer is ‘Yes’,  you should also ask yourself, ‘have I considered the alternatives to Equity Release?’

There are 4 main alternatives:

    1. Move to a less expensive property and use the surplus funds to meet your income or capital needs.
    2. Use any existing resources, such as investments.
    3. Use assistance from family, grants or unclaimed State Benefits.
    4. Do nothing and pass on the value of your home, less inheritance tax (40% on anything over £325,000 in 2013/14).

2. Having considered the alternatives, the next question is, ‘have I gathered sufficient information to enable me to make a decision that my family and I, are happy with?’

3. If you’ve got this far you may well ask yourself , ’why didn’t I do this sooner?’

Whilst Equity Release can provide priceless benefits for many in retirement, it is not suitable for everyone.  In some cases there can be drawbacks which outweigh the benefits. Get impartial advice.

Obtaining impartial advice from a specialist Equity Release adviser is crucial if you are to make a decision on the right scheme and avoid making a mistake that you may regret for life.

Bankfield only employs highly qualified and experienced Independent Equity Release advisers. They will provide you with impartial advice and will explain all the facts in simple terms, so you can decide whether Equity Release is right for you.

To discuss your situation in complete confidence and with no obligation, call us now on 0116 253 5600 or complete the enquiry form.

Equity release may require a lifetime mortgage or home reversion plan. To understand the features and risks, ask for a personalised illustration.

For equity release, the fee for our advice will depend on your circumstances; we may charge a fee on application (non-refundable) plus a percentage of the loan amount. We will also be paid commission by the lender. For example: an initial fee of £250 payable upon application plus a fee of 3% of the loan amount payable on completion. On a release of £50,000 the fee will be £2,000 made up of £250 + £250 + £1,500 (3% of £50,000).