Equity Release

There are a number of reasons that someone may choose to consider using Equity Release, such as:

• Home improvements
• Gifting to loved ones
• Clearing existing debts such as a mortgage
• Raising funds to support you in your retirement

Here at Harbour Financial we understand that this is a big decision to make, which is why we’re here to advise you on whether Equity Release is suitable for your circumstances and, if so, how to navigate the various possibilities to best suit your needs.

The world of Equity Release has taken significant steps in recent years to ensure positive outcomes for people using these products.

As members of the Equity Release Council, we will only recommend products with a No Negative Equity Guarantee. This means that the common concern of leaving your children to inherit an equity release debt is negated. Indeed, you could even opt for a plan with which you could protect a percentage of your home’s future value to guarantee an inheritance for your loved ones.

There are a range of options in the products which may enable you to service the interest payments as you would an interest only mortgage, thereby preventing the accrual of interest owed.

A lifetime mortgage is a loan secured against your home Equity release will reduce the value of your estate and may affect your entitlement to means tested benefits.

You should always think carefully before securing a loan against your property.