Unlocking the value of your home
For many retirees, your main home is your largest asset, and whilst we all would love to pass this money on to our dependents, it is rarely sensible to live on a low income in retirement just to pass the money on in your will.
At Baggette & Company we can advise you on how to release funds from your home to give you a lump sum, a regular income, or both. You may choose to use this money to fund your retirement, enjoy the finer things in life such as new cars, boats or luxury holidays, or even help the younger generation purchase their first property.
Equity Release is a method by which home-owners over the age of 55 may be entitled to release part of the money from their home and remain in the property rent free until they die or enter long-term care. There are two main types of equity release; lifetime mortgages and home reversion plans.
A Lifetime Mortgage is borrowing funds secured against the value of your home. There are normally no monthly repayments and interest is rolled up over the life of the loan and repaid when entering long-term care or death, at which point the property is sold and the lender repaid. Home reversion schemes are where you sell part or all of your home, but continue to reside in the property.
At Baggette & Company we care about how your money works for you. Equity release is not suitable for everyone, but we will look at your individual circumstances before making any recommendations or advising on your options.
How much you can release from your property will depend on the value of your property and your age. Some providers may take into account past or present medical conditions.
Ask Baggette & Company for a personal illustration with no negative equity guarantee.
This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration.
Check that this mortgage will meet your needs if you want to move or sell your home or you want your family to inherit it. If you are in any doubt, seek independent advice.
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