Tel: 0845 68 68 268
Stirling House Independent Financial Advisers and Stirling House IFAs are the marketing terms used to describe the representatives of Stirling House Financial Services Limited. Stirling House Financial Services Limited is
authorised and regulated by the Financial Services Authority No. 413234. Registered Office:
Willow End Park, Blackmore Park Road, Malvern, WR13 6NN. Registered in England No. 5112844
Independent Equity Release Advice From Stirling House
What Is An Equity Release Plan?
Put simply, an equity release plan allows people to release some of the equity in their property to provide funds for them to use as they wish. Equity release plans are available to those over the age of 55 and have certain advantages and disadvantages that need to be considered very carefully. As independent equity release advisers, we at Stirling House can provide truly impartial advice on whether an equity release scheme is suitable. If equity release is a suitable option we shall provide independent advice on which particular plan should be used.
Types Of Equity Release Plan
There are two types of equity release schemes -
Home Reversion Plans
With a home reversion plan, all or part of a home is sold in return for a cash lump sum, a regular income, or both. The home, or the part of it sold, now belongs to someone else, but the plan purchasers are allowed to carry on living in it until they die or move out.
Lifetime Mortgages
With a lifetime mortgage, you take out a loan secured on your home. It is possible to arrange this so that no payments are made on the loan during the lifetime of the home owner.
When taking out a lifetime mortgage, you can choose to borrow a lump sum or to opt for a drawdown facility. A drawdown facility is suitable if you want to take occasional small amounts rather than one big loan, as it means you only pay interest on the money you actually need.
For more information on equity release complete the Contact Us form or telephone us on 0845 68 68 268