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Thursday 2 September 2021
Thursday 2 September 2021
Thursday 2 September 2021
Thursday 2 September 2021
Are you looking to unlock the value of your home in exchange for cash? With an equity release mortgage, you can access the funds tied up in your property while maintaining the right to live there. At Barrett Mortgages, we offer professional advice and guidance to help you navigate the two main types of equity release: lifetime mortgages and home reversion.
Types of Equity Release
1. Lifetime Mortgage
Ownership Retention: You remain the owner of your home.
Inheritance Options: You may ring-fence part of the property’s value as an inheritance for your family.
Repayment Options: Choose to make repayments or allow interest to roll up.
Loan Repayment: The loan amount and accrued interest are repaid through the sale of your property when the last borrower passes away or moves into long-term care.
2. Home Reversion
Partial or Full Sale: Sell a part or all of your property to a home reversion provider in exchange for a lump sum or regular payments.
Living Rights: Continue living in your home until you pass away or move into long-term care.
Inheritance Protection: You can ring-fence a percentage of the property for later use or inheritance. This percentage remains constant regardless of property price changes.
Sale Proceeds: Upon sale, the proceeds are shared according to the ownership proportions.
Is Equity Release Right for You?
Equity release is suitable for individuals aged 55 and over. It offers financial flexibility for a variety of purposes, such as:
Paying off existing loans or mortgages.
Funding home improvements.
Gaining additional cash for personal use.
The amount you can borrow depends on your age and the value of your property. While equity release provides numerous benefits, it’s important to consider factors like:
Interest Accumulation: Interest can add significantly to the loan amount over time.
Early Repayment Charges: Clearing the loan early may incur substantial fees.
Why Choose Barrett Mortgages?
At Barrett Mortgages, we provide a personalised, end-to-end service with a dedicated advisor who will guide you through every step of the process. Our company, founded by Darren Barrett in 2009 during challenging market conditions, has built a reputation for clear, honest, and trustworthy advice. We offer a wide range of services, including:
First-time buyer mortgages
Remortgaging
Buy-to-let mortgages
Insurance products
Our team of fully qualified and experienced professionals is committed to providing the best possible experience, without pushy sales tactics. We take pride in our reputation, which is built on referrals from satisfied clients.
Contact Us to Explore Your Equity Release Options
If you’re ready to release value from your home or want to learn more about your options, get in touch with us today. At Barrett Mortgages, we are here to help you find the right solution for your circumstances.
Contact us now, and let’s help you make the most of your property’s value.
Are you looking to unlock the value of your home in exchange for cash? With an equity release mortgage, you can access the funds tied up in your property while maintaining the right to live there. At Barrett Mortgages, we offer professional advice and guidance to help you navigate the two main types of equity release: lifetime mortgages and home reversion.
Types of Equity Release
1. Lifetime Mortgage
Ownership Retention: You remain the owner of your home.
Inheritance Options: You may ring-fence part of the property’s value as an inheritance for your family.
Repayment Options: Choose to make repayments or allow interest to roll up.
Loan Repayment: The loan amount and accrued interest are repaid through the sale of your property when the last borrower passes away or moves into long-term care.
2. Home Reversion
Partial or Full Sale: Sell a part or all of your property to a home reversion provider in exchange for a lump sum or regular payments.
Living Rights: Continue living in your home until you pass away or move into long-term care.
Inheritance Protection: You can ring-fence a percentage of the property for later use or inheritance. This percentage remains constant regardless of property price changes.
Sale Proceeds: Upon sale, the proceeds are shared according to the ownership proportions.
Is Equity Release Right for You?
Equity release is suitable for individuals aged 55 and over. It offers financial flexibility for a variety of purposes, such as:
Paying off existing loans or mortgages.
Funding home improvements.
Gaining additional cash for personal use.
The amount you can borrow depends on your age and the value of your property. While equity release provides numerous benefits, it’s important to consider factors like:
Interest Accumulation: Interest can add significantly to the loan amount over time.
Early Repayment Charges: Clearing the loan early may incur substantial fees.
Why Choose Barrett Mortgages?
At Barrett Mortgages, we provide a personalised, end-to-end service with a dedicated advisor who will guide you through every step of the process. Our company, founded by Darren Barrett in 2009 during challenging market conditions, has built a reputation for clear, honest, and trustworthy advice. We offer a wide range of services, including:
First-time buyer mortgages
Remortgaging
Buy-to-let mortgages
Insurance products
Our team of fully qualified and experienced professionals is committed to providing the best possible experience, without pushy sales tactics. We take pride in our reputation, which is built on referrals from satisfied clients.
Contact Us to Explore Your Equity Release Options
If you’re ready to release value from your home or want to learn more about your options, get in touch with us today. At Barrett Mortgages, we are here to help you find the right solution for your circumstances.
Contact us now, and let’s help you make the most of your property’s value.
