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 independent advice from fully qualified financial advisers. We only recommend providers which are approved by the trade body 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) webste.

A broker fee applies, typically £395.