Equity Release and Lifetime Mortgages

Thompson Jenner Financial Services are based in Exeter and Exmouth and offer specialist independent advice on Equity Release Schemes.

Equity Release is a way of unlocking some of the value of the money tied up in your home without having to move.

There are two main types of Equity Release products available and they work in different ways.

What are the different types of Equity Release?

  • Lifetime Mortgage – This is the most common type of Equity Release. Like a traditional mortgage, it’s a loan secured against your home, but the money doesn’t usually need to be repaid until you die or move permanently into residential care. In order to be able to apply for a Lifetime Mortgage you (or both of you if you’re borrowing jointly) need to be at least 55 years old.
  • Home Reversion Plan – This plan allows you to sell part (or all) of your home while you still continue to live in your property. The reversion company then gets a share of the proceeds when your home is sold – usually after you die or move into permanent care.  They don’t pay the market rate, so your estate might be significantly reduced if you die shortly after taking out the plan.  You (or both of you if you’re borrowing jointly) need to be at least 60 years old.

For further information contact us today on 01392 258553 and ask to speak to our Mortgage Adviser.

YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER LOAN SECURED ON IT. Written quotations are available on request. Loans are subject to status.

Thompson Jenner Financial Services Ltd is authorised and regulated by the Financial Conduct Authority.

Key Contacts

Linda Cleaves CeMAP – Mortgage & Protection Adviser

Linda Cleaves CeMAP – Mortgage & Protection Adviser

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