Equity Release is a means of releasing the cash tied up in your home, without having to sell the property. It enables you to remain living in your own home until you require permanent long-term care or you die.
You may raise the money for any purpose; to clear an existing mortgage or provide additional income, for instance.
There are an increasing range of products available in this market offering various benefits and it is important to take advice from someone who knows about the whole range of options.
Aspect8 only recommend providers who subscribe to SHIP (Safe Home Income Plans) as these providers have to adhere to a strict Code of Conduct. For instance, they offer a ‘no negative equity’ guarantee, which means that you will never owe more than the value of your home.
It is important to remember that Equity Release is not suitable for everyone, if this is the case we will advise you of this and recommend alternative options to meet your goals.
Some benefits of equity release
- Can cut the inheritance tax bill faced by your estate
- Allows you to free up cash
- Increased competition means interest rates are falling
- Enables you to stay in your own home
Some risks of equity release
- A big commitment
- May reduce the inheritance you leave your family
- Can impact on state benefits
How Aspect 8 can help
Our advisers are fully qualified and will use their knowledge and expertise to match your individual requirements and circumstances to the most suitable product available.