Sebastian van Mook DipFA CeMAP
Independant Financial Adviser
17 Saint Anne's Road

01743 356661

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Authorised and regulated by the Financial Conduct Authority No.230342 Registered in England 4961992

Equity Release

"If your only wealth is locked up in your home, will you fulfil your retirement dreams?"

Equity release has gone through significant changes over the past few years and there are now many more safe, flexible products available than before. At Abacus we offer clients access to fully qualified advisers who will help you make the right choice for you.

Equity release is a way of getting cash out of your property without the need to move. You either borrow against the value of your home or sell all or part of it for a regular monthly income, lump sum, or the facility to access equity as and when you like, or a mixture.

Types of Equity Release

Lifetime mortgages - This is where you take out a loan against the value of your property but you still retain full ownership.  Many schemes require no repayments to be made and the loan is redeemed when you die or move into long term care.

Home Reversions - This is where you sell all or part of your home to a home reversion company.  You give up all or part of the ownership and there may be nominal payments to make although you are guaranteed the right to reside in the property until you die or move into long term care.  At this time the property would be sold and the arrangement would cease.

Home reversion plans and lifetime mortgages are complex products.  To understand the features and risks, ask for a personalised illustration.

  • Other thoughts you might have:
  • Can I release a single lump sum?
  • Can I draw money as and when I want?
  • How do I get a regular income?
  • How will it affect my Inheritance Tax position?
  • Are there any guarantees governing Equity Release plans?
  • What about transferring ownership or a legal charge?
  • Is Equity Release right for me?
  • How do I go about setting up an Equity Release plan?
  • These are all questions your Abacus adviser can help you with.

    The Solution – Abacus Equity Release Service

    With the rising cost of everyday life, more and more people are finding that their pension savings together with the state pension are not sufficient to meet all their needs in retirement.  You may have adequate savings and assets you can draw on but if not, your home could be a good way to help boost your pension.

    The UK housing market may have slowed in recent years, but this follows almost a decade of unprecedented growth in property prices.  As a result, Britons own significant amounts of equity in their homes.

    The amount of equity that you can release depends on a combination of your age and the value of your property.  When you die or move into long term care the Equity Release provider will be entitled to their money back or to it's share in the property's current value depending on which scheme was taken out.  The balance of the property's value goes to your estate.

    To understand the features and risks of Equity Release plans, your Abacus Adviser will supply you with a personalised illustration and advise you on how your chosen Equity Release plan might affect your tax position, your eligibility for means tested benefits and your ability to move or sell your property.  An equity release plan will reduce any inheritance you decide to leave.  Your Abacus adviser will talk to you about these risks if you are at all unsure.

    There may be a fee for advice.  The precise amount will depend upon your circumstances, but we estimate it will be £795.  This will be discussed and agreed with you in advance. We offer an initial consultation in your own home at our expense and without obligation.