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Chadwick Financial Management / Independent Financial Advisers

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What Is Equity Release?

Find out how equity release schemes work

Equity release refers to a range of products that let you convert equity tied up in your home into cash. When you reach 55, you can take the money you release as a lump sum, in several payments or as a combination of both.

There are two equity release options

  • Lifetime Mortgage.  You take out a mortgage secured on the home you live in while retaining ownership. You can choose to ring-fence some of the value of your property as an inheritance for your family. You can choose to make repayments or let the interest roll-up. The loan amount and any accrued interest is paid back when you die or when you move into long-term care.
  • Home Reversion. A home reversion provider will by some or all your home for a lump sum or regular payments. You can continue living in the property until you die rent free. You will continue to maintain and insure it. You can ring-fence a percentage of your property for later use, like for inheritance. Unless you decide to take further cash releases, the percentage you own will remain the same. Regardless of how property values change. Your property is sold at the end of the plan.  Proceeds from the sale are shared according to the remaining proportions of ownership.
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Covering the whole market

We have access to the whole retirement market, including:

Lifetime Mortgages

Most people who take out equity release use a lifetime mortgage. You don’t usually make any repayments while you’re alive. Interest is ‘rolled up’ and added to your loan.

Some lifetime mortgages offer you the option to pay all or some of the interest. Some let you pay off the interest and capital.

In the same way that ordinary mortgages vary from lender to lender, so do lifetime mortgages. We offer Independent advice from the whole market. We have specialist qualifications to advise on Equity Release and have done now for many years.

We are often able to offer our clients special terms, because we are members of the Equity Release Council and Later Life Academy.

Home Reversion

Home reversion allows you to sell some or all your home to a provider. In return, you’ll get a lump sum or regular payments.

Your home will be inspected to make sure you keeping it maintained.

Why not take a look at our Equity Release FAQ’s to see if they answer your questions.

To find out the state benefits on offer to you, please visit https://www.entitledto.co.uk/ and complete the online form to discover your eligibility.

To find out more or to arrange an initial consultation, call us on 0800 833389 or email discover@chadfinman.com

Equity Release will reduce the value of your estate and can affect your eligibility for means tested benefits. This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration.
You must be a homeowner and over 55 years old to qualify. Please remember that a lifetime mortgage may not be right for you. A lifetime mortgage may affect your right to means tested state benefits and will reduce the value of your estate. Our advisers can help discover if a lifetime mortgage is right for you.
Your home may be repossessed if you do not keep up repayments on your mortgage