Looking After Your Best Interests
As specialists in the field of Equity Release, Braemar are committed to act only in your best interests. Below is a list of points for you to consider before contemplating Releasing Equity from your home. For further Information and details of how our schemes are regulated by the FSA, please read our Safeguards section.
Points to consider
- Taking equity from your property now will reduce the inheritance you are able to leave to your beneficiaries so it is important to involve your family in your decision.
- Equity Release may affect your entitlement to means tested benefits which is why we ask about your full financial situation to find the best solution for you.
- Equity Release may affect your tax position which is why we ask about your full financial situation to find the best solution for you.
- Taking equity from your property now will reduce the amount available to you later should you need to fund your care requirements.
- If you take an Equity Release plan now and your circumstances change in the future, it could then be unsuitable for your needs and requirements.
- If you were to die unexpectedly shortly after taking an Equity Release plan, it could prove to be expensive.
- Having an Equity Release plan may restrict your options to move in the future.
- By consolidating previously unsecured debts, you could be potentially increasing the term and therefore paying more interest.
- Equity Release scheme providers insist that you have buildings insurance in place. This ensures that all parties are protected should the property be damaged.
- Your property must be maintained by you and kept in a reasonable state of repair.
- You will have to the scheme providers permission should you require anyone to live with you in the future.
- You will not be permitted to take any other loans to be secured on the property.
- Future interest rates and property values could rise or fall.
- Your Will, if you have one, may have to be changes to reflect any new Equity Release scheme.
How much will we charge if we arrange your Equity Release transaction?
Braemar Equity Release offer a full advice and recommendation service for which we charge a fee of 2.5% of the amount released with a minimum of £495.00 but only if you apply for and complete a plan. We do offer a free, no obligation discussion with one of our qualified, independent advisers (no home visit required) so that we can find out whether a plan would be suitable for you and if so, recommend how much money you could release. Once you have all the facts and figures to hand, if you decide not to proceed, no fee will be charged.
Should you wish to combine the fee, this would of course then form part of the total advance from the Equity Release scheme and incur the relevant associated charges and interest. To find out more please fill in an enquiry form to receive a free information pack.
Equity Release is not a decision that should be taken lightly or without seeking Specialist Independent Advice. Making the wrong decision could cost you or your estate thousands of pounds.
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Find out how much you could release with our equity release calculator.
Alternatively to find out more please send for a free equity release information pack today or call us free on: 0800 030 55 95
Making Equity Release as stress free as possible.
Equity Release products are lifetime mortgages and home reversion plans. To understand the features and risks of lifetime mortgages and home reversion plans, ask for a personalised illustration.