Advanced Mortgage Services Ltd
We provide Independent Advice from the Whole Market
Equity Release is a method for releasing some of the money stored in your home, without the need to move or increase your monthly expenditure. The amount you can release will depend on the value of your property, the youngest applicants age and the providers lending criteria. It will also depend on which type of equity release product you choose, a Lifetime Mortgage or a Home Reversion Plan and could also be effected by your health and life expectancy.
We can establish what the maximum you would be allowed to withdraw from your property subject to confirmation of property value.
Normally equity release is designed for people over the age of 55 yrs with most providers having a minimum age of 60/65 yrs. The older you are the greater the percentage of the value of the property you will be able to release.
With the lifetime mortgage you can choose not to pay any monthly payments throughout the life of the mortgage. Instead the mortgage and any accumulated interest charges will be repaid at the time of death or a move into long term care and the proceeds from sale of the property will repay the outstanding mortgage.
With a Lifetime Mortgage the younger you are the greater the impact will be from compound interest, which over a longer period could equal the full value of your property.
With a Home Reversion Plan you sell part or all of your property to the plan provider initially at an agreed price but retain a lifetime guarantee to allow you to remain in the property.
Advanced Mortgage Services will only recommend an equity release plan which is SHIP registered.
Equity Release Plans which meet the SHIP requirements usually have the following common factors:
Equity Release Risk Warning.
Lifetime mortgage, or home reversion plan.
Equity release may affect your entitlement to state benefits and could reduce the value of your estate. To understand the features and risks, ask for a personalised illustration.
Please think carefully before securing other debts against your home.
Your home is at risk of repossession if you do not keep up repayments on a mortgage or any other loans secured on it and you should think carefully before securing any debts on your home
Advanced Mortgage Services Ltd is an appointed representative of The On-Line Partnership Limited which is authorised and regulated by the Financial Conduct Authority. Advanced Mortgage Services is registered in England. Company registration number 4751565.
Cherry Tree House, 20 Inverleigh Road, Bournemouth, Dorset, BH6 5HA.
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Equity Release is a method for releasing some of the money stored in your home