What is Equity Release
Equity is the value of your home minus any mortgages or secured loans you have against the property. Equity Release is the method to unlock this money from your home.
For example, if you are over 55 and your property is valued at:
- £150,000 with no mortgage or debt
Your equity = £150,000 - £225,000 with £40,000 left to pay on your mortgage
Your equity = £185,000
You can choose for your equity to be paid to you in a one off tax-free lump sum or to have regular monthly payments. You can spend your cash however you choose.
There are currently four types of equity release plans in the UK market: lifetime mortgages, drawdown lifetime mortgages, interest only lifetime mortgages and home reversion plans. Click here to learn about the different types of equity release plans.
Find out how much you can release from your home today in 2 simple steps with our free, no obligation, online Equity Release Calculator.
Bower’s national team of award winning financial advisers will be able to give you the impartial specialist advice you need to make your decision. There are many equity release options and we work to understand your whole financial situation before suggesting the best solution for you.
Equity Release at Bower Retirement Services
- Impartial quality advice in the comfort of your own home to you and your family
- National team of award winning friendly qualified advisers
- Whole of market plans available with preferential deals and exclusive offers
Bower recommends Safe Home Income Plans (SHIP)
A SHIP approved plan guarantees:
- You will never fall into negative equity
- You can move home whenever you wish (subject to lender criteria)
- Never owe more than your property is worth
- Stay in your home for the rest of your life or as long as you choose
If you have any questions or would like to confidentially discuss your options please call us freephone 0800 411 8668 and speak to one of our friendly equity release customer advisers to arrange a free initial, no obligation consultation in the comfort of your own home at a time to suit you with your family present if you wish. Our customer advisers are all over 55 and understand your financial needs.
Phone lines are open Monday–Friday, 9am – 5.30pm & Saturday 9am–1pm
Talk to us today about equity release; it has made a substantial difference to the lives of thousands. Why not see how it could make a difference to yours?
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