roebucklifetime-blog

[roebucklifetime-blog]

Top 7 Essential Equity Release Tips

If you are planning for equity release, we have assembled top 10 tips to help you on your journey. These tips will help you know all your available options and to plan ahead on the way that best suits you. Take equity release advice from professionals if you are not sure of the process.

Consider Alternatives

There are several options available for those planning to raise additional finances for their retirement. Choosing the right option will save you money as well as gives you more flexibility. Some of the alternatives to equity release are:

Downsizing – Sell and move to another property

Other borrowing – Consider other forms of borrowing such as mortgage or conventional loan

Use investments or savings – Use your personal finances

Family member’s assistance – You relatives might be able to help you

Claim all available benefits – Make sure you avail all the benefits you are entitled to

Inheritance Protection

 Some of the equity release providers offer plans with features that enables the customers to enclose a portion of their future property value to guarantee an inheritance for their loved ones.

If you have a family and if it is important for you to leave them an inheritance these plans offer ways to release equity while guaranteeing some of your future property value is available to be passed on to your beneficiaries.

Pay Interest in Monthly Instalments

 Paying interest in monthly instalments is an effective way to reduce the cost of the life time mortgage.

Discover out How Much You Could Release

 You can use the equity release calculator to identify how much cash you could potentially unlock out of your home and find out whether you are eligible for equity release or not.

Identify How Much You Need To Borrow

 As you can use equity release for any purpose, it is important for you to make a detailed list of your expenditure plans as this could influence the type of plan that best suit your needs. Go for lump sum lifetime mortgage if you want all the money at once.  Opt for drawdown mortgage, if you wish to take an initial amount and then release further funds as and when you need.

Your Property Valuation

 The amount that you can borrow depends your age, health and lifestyle as well as the value of your current house. You home need to be valued independently if you decide to go ahead with an equity release plan. This valuation helps lender consider the maximum amount of loan available to you.

Will You Be Moving In The Future

Discuss with your adviser if you have plans to move home after taking an equity release plan. All Equity Release Council approved plans allow you to move home and transfer your existing plan onto your new property, subject to lending criteria.

[roebucklifetime-blog]

When you are buying a home for the very first time, you need to plan out a lot of things in advance, especially related to finances so that you can get your dream house. 

Applying for the mortgage is one of the first stages that will get you closer to your home. The tips listed below offer lifetime mortgage advice and will help you prepare for the process to a great extent:

[roebucklifetime-blog]

So, how to know if your broker is not creating a conflict of interest between the parties or if he is not manipulating or coaxing the deal in any manner? Before you go for a Real Estate or a Lifetime Mortgage Advice, here are a few quick points to consider to be able to know if the broker is cheating you or not.

[roebucklifetime-blog]

A lifetime mortgage is a loan secured against your home which lets you release some fund that is currently tied up in your house. Get Independent Mortgage Advice at Roebuck Lifetime.

[roebucklifetime-blog]

Independent Mortgage Adviser in London - Roebuck Lifetime

The mortgage is one of the financial issues which can be a burden for you. You should hire a Mortgage adviser London to get rid of the financial situation. Meet with our top rated Mortgage adviser London at Roebuck Lifetime to know more in-depth.