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Equity release is generating cash from your property either as a lump sum or a simple income each month.
In April 2007 Equity Release mortgages like ordinary mortgages will be regulated by the FSA and only advisers who have received training and passed the appropriate exam will be allowed to advise on Equity Release. Our advisers have.
You’ve paid off your mortgage, but you would like more income to provide for those extras that makes life more enjoyable. Your home has increased in value and you would like to take some of the money out. But then the questions start.
- How will it work?
- Will I still be able to live in my home?
- What happens if interest rates rise?
- What happens if one of us dies or has to go into a care home?
- Will I still be able to leave something to the children?
- Will I have to pay Tax?
At Lee Associates we understand the attraction, but we also understand the possible pitfalls. We will help you to understand the different options that may be available. Some schemes can be expensive and inflexible, so make sure you take equity release advice from an adviser that is both qualified and experienced in dealing with the problems of Equity release before committing yourself.
Lee Associates will recommend the scheme that we believe best suits your situation, and will also explain the legal considerations and how your decision may affect the family.