Equity Release (Lifetime Mortgage)

Many people are finding that there are often falling short on their income in retirement or still have outstanding debts that they are unable to service. Equity release is a way of using some of the value of your property to meet those requirements.

There are two main types of equity release:

  1. Lifetime Mortgage – a long-term loan where you borrow money secured against the value of your home to give you a lump sum and/or a regular income. The loan is repaid once you die or move into long-term care and your house is sold.
  2. Home Reversion – selling all or part of your home to a third party and continuing to live in the property. The sale price offered is usually lower than the market value.

At Future Asset Management LLP, we only consider equity release schemes who abide by the Equity Release Council’s code of conduct. A major focus of the Equity Release Council’s work is to ensure that products are safe and accessible for consumers.

We only advise on lifetime mortgage products, and charge a minimum fee of £697. We will also receive commission from the lender upon completion.

A lifetime mortgage product will reduce the value of your estate, will not be suitable for everyone and may affect your entitlement to state benefits. To understand the features and risks, please ask for a personalised illustration.

Feel free to contact us for further details of our services and associated fees.

Risk Warning:

  • Your home may be repossessed if you fail to abide by the terms of the contract as detailed within the mortgage offer.
  • Your home may be repossessed if you do not keep up repayments on your mortgage.
  • Using equity in your home will affect the amount you are able to leave as an inheritance.
  • Any means-tested state benefit (both current and future) may be affected by any equity released.

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