For those clients over the age of 55 and considering releasing money from their home, equity release could provide a viable financial solution.

We have seen an increase in the value of most peoples homes over the last decade which has resulted in significant amounts of equity stored within properties. Those considering accessing this equity could consider one of the following:

Lifetime Mortgage

This provides the ability to withdraw a sum of money for personal use. Ownership of the property is retained by the invidiual. Interest accrues and is added to the outstanding mortgage balance. No formal monthly payments are made and repayment of the mortgage will occur on death, entering long term care or the sale of the property.

The amount of borrowing available will be based on age and the value of your property.

This is a lifetime mortgage.  To understand the features and risks, ask for a personalised illustration.

Home Reversion Plan

Home reversion passes the ownership of the property to the home reversion provider. In return, funds are made available for personal use. Up to 100% of the property can be sold if required.

This is a home reversion plan. To understand the features and risks, ask for a personalised illustration.

Northern Property Finance Ltd. provide impartial advice from fully qualified financial advisers. We aim to recommend a provider that subscribes to SHIP (Safe Home Income plans).

If you require more information on equity release, you can click here to take you to the FSA (Financial Services Authority) website.

A fee of up to 2% of the loan amount which is payable on completion, with a minimum fee of £995. For example, on a loan of £100,000 the fee would be £2,000. We will also be paid commission by the provider.