Home Reversion Plan

“We are qualified equity release mortgage advisers meaning that we are approved to offer advice on later life lending.”

exchange wealth management mortgages equity release protection insurance financial planning liverpool merseyside

Ian Ward CeMAP CeRER

Director

exchange wealth management mortgages equity release protection insurance financial planning liverpool merseyside
exchange wealth management mortgages equity release protection insurance financial planning liverpool merseyside

If you are researching equity release for yourself or on behalf of a friend or relative, then you may already know that it allows individuals aged 55 and over to release money from the property they live in without having to make any monthly payments.

Equity release can be an attractive option for those aged 55 or over as it can help to pay for:

  • Home improvements or adaptations to help you live in your home independently for longer
  • Any outstanding debts such as mortgages, credit cards or personal loans
  • Help around the home including domiciliary social care
  • Big ticket items such as a new car
  • Helping your children and grandchildren with deposits on a house or university fees

At Exchange Wealth Management Mortgages our advisers are experienced in and qualified in providing advice on equity release. We are also members of the Equity Release Council. If you or a relative are considering equity release as an option, one of the first things you should do is talk through your plans with a qualified equity release mortgage adviser. Your initial consultation should be free of charge to help you consider and understand the options available to you.

There are two different types of equity release; Lifetime Mortgages and Home Reversion plans. Both are regulated by the Financial Conduct Authority.

There will be a fee for lifetime mortgage advice. The precise amount will depend upon your circumstances but we estimate that it will be £995.00. To understand the features and risks ask for a personalised illustration.

What is a Home Reversion Plan?
Do you need a lump sum or income?
Planning for the future
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What is a Home Reversion Plan?

A home reversion plan can boost your income later in life by allowing you to release some of the equity held in your property. With a home reversion plan, you sell all or part of your home in exchange for a tax free cash lump sum, or regular payments, and a lifetime lease, guaranteeing you the right to stay in your property rent-free for the rest of your life. As is the case in the wider mortgage market, there are many lenders and many products in the equity release market, and we can help you find the best deal based on your individual needs at the time.

With a home reversion plan there is no day-to-day interference and no restrictions on treating the house exactly as before; as your own home to live in freely. The percentage you retain in your property will always remain the same regardless of the change in property values, unless you decide to take further cash releases. With a home reversion plan you will know exactly what you have parted with and also what has been ring fenced for later use. At Exchange Wealth Management Mortgages our advisers talk you through the agreement and make sure everything is communicated clearly in writing to ensure you understand and agree to the terms of your home reversion plan.

Do you need a lump sum or income?

This is something you will need to consider when taking out a home reversion plan. You might need a lump sum now but you may also like the flexibility of drawing down regular or occasional amounts as you need it. The way in which you borrow the money has an impact on the interest to repay so this is something our equity release mortgage advisers will talk through with you.

Planning for the future

You may like to share any financial plans for your home and your future with your family. We are happy to talk through the options for equity release with you in the presence of your family members. In particular this can be very important if you are releasing equity from your home to help support your loved ones with their plans. We can act as a trusted and continued source of mortgage advice for your family members.

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Equity release is becoming more popular as we are living longer and our lifestyles change. This does not mean you should enter into an equity release mortgage lightly. It is still a big decision to free up the wealth in your home that you have worked so hard to achieve. It may be that there are other mortgage options that you have not considered, which is one of the reasons why you should talk through your plans with a qualified and independent mortgage adviser. At Exchange Wealth Management Mortgages we are experienced in helping clients make decisions about finance involving their homes. If you do decide to go ahead with equity release then you can be confident that by using Exchange Wealth Management Mortgages you have received advice from a member of the Equity Release Council – a seal of approval for us as equity release mortgage advisers. Call, email or visit us for your free of charge consultation with one of our friendly and trusted mortgage advisers.

Get in touch with our team of experts

✓ We are members of the Equity Release Council

✓ Our Mortgage Advisers are specifically qualified in later life lending

✓ We offer independent, whole of market equity release advice

✓ Free of charge initial consultation to discuss your mortgage needs

✓ Appointments in the comfort of your own home

✓ Excellent customer service proven by client testimonials

✓ Access to equity release finance not available on the high street

✓ Peace of mind arranging your finances through a professional

✓ Confidence that we have explored all options available to you

✓ Regular updates from our customer focused and caring team


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