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Thursday 17 June 2021
Thursday 17 June 2021
Thursday 17 June 2021
Thursday 17 June 2021
At Barrett Mortgages, we offer a professional equity release service designed to help you unlock the cash tied up in your home. Our dedicated team will compare products from a range of lenders across the market to ensure you find the best solution tailored to your unique circumstances. From enquiry to completion, we manage the entire process, including liaising with solicitors, surveyors, and other third parties, to make the experience smooth and hassle-free.
What is an Equity Release Mortgage?
An equity release mortgage allows homeowners over the age of 55 to access the equity in their home, either as a lump sum, smaller amounts, or a combination of both. There are two main options:
1. Lifetime Mortgage
How it Works: A loan secured against your property, with ownership remaining in your name.
Flexibility: You can:
Ring-fence some of your property value for inheritance.
Choose to make repayments or let the interest accumulate.
Repayment: The loan and any accrued interest are paid back when you die or move into long-term care.
2. Home Reversion
How it Works: You sell a part or all of your property to a home reversion provider in exchange for a lump sum or regular payments.
Benefits:
You retain the right to live in your home, rent-free, for life.
A percentage of your property can be ring-fenced for inheritance.
Repayment: When the property is sold, the proceeds are shared according to the ownership proportions.
Important Considerations for Equity Release
While equity release can provide financial freedom, it’s essential to weigh the potential drawbacks:
Higher Costs: Interest rates for equity release are generally higher than standard mortgages.
Interest Accumulation: If interest is rolled up, your debt can grow quickly.
Early Repayment Charges: Clearing the debt early may result in hefty fees.
Impact on Inheritance: Equity release may reduce the value of your estate.
Why Choose Barrett Mortgages?
Established by Darren Barrett in 2009, Barrett Mortgages has earned a reputation for providing honest, trustworthy, and personalised advice during some of the industry’s toughest market conditions. Here’s what sets us apart:
Qualified and Experienced Team: Our staff are chosen for their expertise and commitment to exceptional customer service.
No Pushy Sales Tactics: We prioritise your needs, offering clear and unbiased guidance.
Comprehensive Services: From equity release to first-time buyer mortgages and buy-to-let options, we provide solutions for all.
Get in Touch Today
If you’re considering equity release or need advice on any other type of mortgage, Barrett Mortgages is here to help. Contact our friendly team to explore your options and make informed decisions about your financial future.
Phone: 01202 733809
Email: enquiries@barrettmortgages.com
Visit: Our office in Poole, Dorset.
Let Barrett Mortgages guide you to the best solution for your mortgage needs.
At Barrett Mortgages, we offer a professional equity release service designed to help you unlock the cash tied up in your home. Our dedicated team will compare products from a range of lenders across the market to ensure you find the best solution tailored to your unique circumstances. From enquiry to completion, we manage the entire process, including liaising with solicitors, surveyors, and other third parties, to make the experience smooth and hassle-free.
What is an Equity Release Mortgage?
An equity release mortgage allows homeowners over the age of 55 to access the equity in their home, either as a lump sum, smaller amounts, or a combination of both. There are two main options:
1. Lifetime Mortgage
How it Works: A loan secured against your property, with ownership remaining in your name.
Flexibility: You can:
Ring-fence some of your property value for inheritance.
Choose to make repayments or let the interest accumulate.
Repayment: The loan and any accrued interest are paid back when you die or move into long-term care.
2. Home Reversion
How it Works: You sell a part or all of your property to a home reversion provider in exchange for a lump sum or regular payments.
Benefits:
You retain the right to live in your home, rent-free, for life.
A percentage of your property can be ring-fenced for inheritance.
Repayment: When the property is sold, the proceeds are shared according to the ownership proportions.
Important Considerations for Equity Release
While equity release can provide financial freedom, it’s essential to weigh the potential drawbacks:
Higher Costs: Interest rates for equity release are generally higher than standard mortgages.
Interest Accumulation: If interest is rolled up, your debt can grow quickly.
Early Repayment Charges: Clearing the debt early may result in hefty fees.
Impact on Inheritance: Equity release may reduce the value of your estate.
Why Choose Barrett Mortgages?
Established by Darren Barrett in 2009, Barrett Mortgages has earned a reputation for providing honest, trustworthy, and personalised advice during some of the industry’s toughest market conditions. Here’s what sets us apart:
Qualified and Experienced Team: Our staff are chosen for their expertise and commitment to exceptional customer service.
No Pushy Sales Tactics: We prioritise your needs, offering clear and unbiased guidance.
Comprehensive Services: From equity release to first-time buyer mortgages and buy-to-let options, we provide solutions for all.
Get in Touch Today
If you’re considering equity release or need advice on any other type of mortgage, Barrett Mortgages is here to help. Contact our friendly team to explore your options and make informed decisions about your financial future.
Phone: 01202 733809
Email: enquiries@barrettmortgages.com
Visit: Our office in Poole, Dorset.
Let Barrett Mortgages guide you to the best solution for your mortgage needs.
