Equity release specialist covering Edinburgh, Dundee, Perth and surrounding areas.
Equity Release Mortgage Experts Covering Edinburgh, Scotland, and UK.
Equity Release Edinburgh – True Financial Solutions
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.
I am a member of The Equity Release Council (ERC). The ERC is a not-for-profit organisation and 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.
Equity release, also known as a lifetime mortgage, ensures the interest rate agree is fixed for the life of the loan.
A Lifetime Mortgage will reduce the value of your estate and may affect your entitlement to means-tested benefits and tax status. The impact of not servicing monthly interest payments on a Lifetime Mortgage is that the outstanding debt can grow rapidly, thus reducing the value of your estate. For example, if the interest rate was 7% a year, a £50,000 loan would double to £100,000 after 10 years assuming no repayments are made. This is an example for illustrative purposes only and personalised advice and recommendations should be sought from a qualified professional. You are strongly advised to register a lasting power of attorney. This will allow your affairs to be managed by somebody else if your mental abilities significantly decline.
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;
Travel and hobbies
General living costs
Helping out family members
Generally there are certain conditions that need to be met before taking out equity release, for example:
You will need to be a minimum age of 55
Your property must be over a certain value
You must be a home owner
Your property must be in reasonable condition
Mortgage and Insurance Broker at True Financial Solutions
We provide impartial advice to make sure the recommended equity release solution is the right one for our clients. We pride ourselves on the service we provide and we will always be on hand to guide you through every step of the process and to answer any questions you may have.