Equity Release Edinburgh

Mortgage and Equity Release Advice Across Edinburgh

Equity release specialist covering Edinburgh, Dundee, Perth and surrounding areas.

Melville Financial Management Equity Release Mortgage Experts Covering Edinburgh, Scotland, and UK.

Equity Release Edinburgh

Are you aged fifty-five or over and considering an equity release Mortgage? If you are considering using the value of your home to generate a cash lump sum or income to improve your standards of living, one of our qualified financial advisers will provide you with an overview of your equity release options.

The Equity Release Council (ERC), a not-for-profit organisation, is the industry body for the equity release sector. It aims to fully represent and facilitate the safe growth of the equity release market by helping to create the conditions which enable the market to develop effectively.

The ERC provides you, the borrower, with protection and continues safeguards to ensure good outcomes when using equity release to fulfil your plans. The ERC provide the following safeguards:

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Equity release, also known as a lifetime mortgage, ensures the interest rate agree is fixed for the life of the loan.

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You have the right to remain in your property for life or until you need to move into long-term care provided the property remains your main residence and you abide by the terms and conditions of your contract.

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You have the right to move to another property subject to the new property being acceptable to your product provider as continuing security for your equity release loan.

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Equity release must have a “no negative equity guarantee”. This means when your property is sold, and agents’ and solicitors’ fees have been paid, even if the amount left is not enough to repay the outstanding loan to your loan provider, neither you nor your estate will be liable to pay any more than the value of your home.

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From 28 March 2022, all customers taking out lifetime mortgages that meet Equity Release Council standards will be guaranteed the right to make penalty-free partial repayments of their loans.

I was thinking of some form of equity release, or later life mortgage, to release some of the equity in my property, to enable some major updates and renovations within the property. With the prospect of doing this myself being rather daunting, or perhaps impossible, I was recommended, via my solicitor and another financial advisor, to go to Chris. He came very highly recommended.

Mr Houston

Edinburgh

We required advice regarding our situation, and we were found an excellent deal and the communication with us throughout was excellent.

Mr & Mrs Proudfoot

Edinburgh

There is little, if anything, that could have been done better. The mortgage application took place during the Covid pandemic, and everything went through successfully.

Mr & Mrs Ewan

Edinburgh

Equity Release Specialists Edinburgh

What is Equity Release? Equity release schemes enable older home owners to release cash from the value of their property without the need to move house. Reasons for wishing to take out equity release may include finding cash necessary for;

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Long-term care

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Home improvements

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Medical needs

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Travel and hobbies

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General living costs

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Helping out family members

Requirements

Generally there are certain conditions that need to be met before taking out equity release, for example:

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You will need to be a minimum age of 55

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Your property must be in reasonable condition

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You must be a home owner with no dependants living with you

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Your property must be over a certain value

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You have little or no mortgage left on your property

Christopher Melville MSc.

Financial Adviser

Christopher is a financial adviser, family estate planner and member of the Equity Release Council. He writes about the importance of independent financial advice, inheritance tax and family planning regarding equity release and personal finances.

With a wealth of experience in the regulated financial service sector, you are in safe hands at Melville Financial Management. Providing independent financial advice in Edinburgh and across UK.

‘I am an experienced financial adviser and I specialise in independent later life lending mortgage advice as well as Retirement Interest Only (RIO) products. I lay out your options and I provide you support at every stage of your journey.’