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We tend to find with older applicants that equity release comes in the form of a Lifetime Mortgage. To qualify for a Lifetime Mortgage, you will have to be over the age of 55 years old. Since releasing equity is a specialist subject and it should be done right; speak to an equity release mortgage advisor in Leicester today.
Usually, people pay off their Lifetime Mortgage whilst living inside the property, in long-term care, or letting the loan amount build up with interest. You’ll be making the decision to decide which route is best to take. Depending on your circumstances, you may plan to use the equity in a completely different way to someone else. It’s entirely up to you how you use the money.
Before applying for a Lifetime Mortgage, check your eligibility and check to see if you meet the requirements. Two of the main factors are your age and the value of your property. The loan only becomes repayable once you are dead or have moved on into long-term care, unable to live independently.
We would strongly recommend booking your free initial mortgage appointment to speak with a trusted mortgage broker in Birmingham. They will be able to see whether you qualify or not for Equity Release and whether it is possible in your personal and financial situation.
To understand the features and risks, ask for a personalised illustration. Equity Release may come in the form of a lifetime mortgage or home reversion plan.
A lifetime mortgage may impact the value of your estate and it could affect your entitlement to current and future means tested benefits. The loan plus accrued interest will repayable upon death or moving into long term care.
A home reversion plan involves selling all or part of your home to a plan provider in exchange for a tax-free lump sum.
When looking at this for an option here are a few things to consider. You must be at least 55 years old to qualify for Equity Release, and your age and the value of the property can affect how much you can withdraw from your home.
For further mortgage advice in Leicester regarding Equity Release, it is worth seeking out a Specialist in the field. Get in touch with a Mortgage Broker in Leicester, and we will be open & honest and find you the help you need.
To understand the features and risks, ask for a personalised illustration. Equity Release may come in the form of a lifetime mortgage or home reversion plan.
A lifetime mortgage may impact the value of your estate and it could affect your entitlement to current and future means tested benefits. The loan plus accrued interest will repayable upon death or moving into long term care.
A home reversion plan involves selling all or part of your home to a plan provider in exchange for a tax-free lump sum.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The fee is up to 1% but a typical fee is £995.
You should always think carefully before securing a loan against your property.
A lifetime mortgage will reduce the value of your estate and may affect your entitlement to means tested benefits.
Clearing existing mortgage with a lifetime mortgage may result in higher cost of borrowing.
Leicestermoneyman is equipped with a proficient team of mortgage advisors in Leicester who specialise in Equity Release & Lifetime mortgages. Our qualified Equity Mortgage advisors in Leicester are dedicated to assisting customers with their inquiries and objectives in this area.
Moreover, our expertise extends beyond Equity Release & Lifetime Mortgages. If you find yourself approaching the end of your fixed term and have standard remortgage queries, our team of mortgage brokers in Leicester can provide valuable guidance.
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Anonymous
Very professional. Kept me informed every step of the way. Explained the mortgage application process fully. Found me another lender immediately, after my first application got rejected.
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I found Moneyman to be very professional and easy to work with. They explained everything clearly, kept me informed throughout the process, and were always easy to contact. I especially appreciated the personal touch of having a video call, which...
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Anonymous
Great and knowledgeable advisor, Leo has been helping every step of the way and was able to answer lots of questions and provide lots of advise. Highly recommend using Leicestermoneyman
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Emma
Beyond happy with our experience with moneyman. Quick responses, helpful and friendly. Definitely went above and beyond our expectations. Wouldn’t trust anyone else. Thank-you!
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Neil
Highly recommend Leo Shakespeare! Leo has been very helpful, approachable and informative - we will be recommending him to others who are buying a home.
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I approached moneyman with an urgent problem of remortgaging my property within a deadline of 2 months or I loose my property .I was professionally welcomed by Paula and her 2 other colleagues who gave me advice and options of what I can do ....
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Simon
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Grant
Very fast friendy service, any questions were answered throughly and quickly and the whole service from start to finish was smooth and stress free.
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Lucy
Excellent service from start to finish! Chris kept us fully informed and answered all of our questions throughout. He took the pressure off us and was professional throughout! Highly recommend!!
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Jo and Chris were extremely helpful. Got everything done so quickly!
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Joanne
It was smooth, took all the stress of reseaching the best mortgage. Easy access to appointments. TOM was great and understanding
2 years ago
Bhaven
Very very good thank you
2 years ago
Zubair
Charlie was very easy to talk too and made things easy and simple to understand and explained our options in detail which really helped us through the process as first time buyers.
2 years ago
James
Jason and his colleagues at UK Moneyman have been amazing from the start. When we began the process of house buying and finding a mortgage we knew very little, but Jason explained much to us in a telephone consultation and outlined all our options....
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Very impressed, service was really good and efficient and anything g that needed explaining was done very clear. Would definitely recommend
2 weeks ago
Shelline
Leo Shakespeare and Stacey Jopling has work long side each other to made this entire journey extremely smooth and informative as a first time buyer. His service has been phenomenal. I had been rejected from many other brokers and banks and he...
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I have been dealing with Wendy and Malcolm in regards to my house purchase and I could not recommend these enough. A true credit to the company. Very efficient with communication and solving any issues that needed to be addressed. Would highly...
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Anonymous
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Nazeef
Fantastic experience. Charlie helped me race through to secure the most suitable mortgage offer, best plan for life and critical illness insurance. Very approachable and responsive even with any queries I had after everything was completed.
6 months ago
When you schedule a free initial mortgage appointment with our later life mortgage advisor in Leicester, we’ll delve into a comprehensive conversation centered around your objectives and inheritance strategies.
Although equity release and lifetime mortgages remain valid considerations, we view them as options of last resort. Our philosophy revolves around finding a more tailored and suitable alternative that aligns precisely with your individual circumstances.
Given the significance of later life mortgages, we highly recommend involving your family members or trusted individuals in our discussions. Their input and support can be invaluable in making informed decisions.
Should we determine that equity release is either suitable or unsuitable for your needs, rest assured that our well-informed later life mortgage advisors in Leicester will guide you towards the appropriate services. These services can provide further assistance in devising and solidifying your plans, ensuring you have a well-rounded approach to your financial future.
Looking into Equity Release Mortgage Advice in Leicester has never been easier, our team can check whether you are eligible to release equity from your property after you have booked your free initial mortgage appointment with a member of our team members. Subject to availability you can choose a date and time that suits you!
As an expert Mortgage Broker in Leicester, we have access to a vast panel of lenders, some with specialist products. We can search through 1000’s of deals to find one tailored for you. If we encounter any hurdles along the way, we will try and overcome them together.
Our experienced mortgage advisors in Leicester are even able to help with various other services when applicable for us to do so, such as referring you to a trusted conveyancing solicitor.
We have worked in this industry for over 20 years, our team is dedicated and responsive and want you to receive the best service possible during your dealings with us. We can’t wait to hear from you!
Over time, the longer you have lived in the property the more equity you’ve built up in your property. Equity release is a way of turning the value of your property and releasing it into a lump sum of cash.
This lump sum can be spent on anything you want. Some homeowners choose to use the money to pay off unsecured debt, fund home improvements, go on holiday or purchase a new car. Before taking any money out of your property, it’s always best to speak to an Equity Release specialist Mortgage Advisors in Leicester.
Of course, we are able to look at your options to release equity, and see how much you may be able to take out of your property. You may need to take out a new mortgage whilst releasing equity, and therefore we will try our best to find you the most suitable deal to suit your personal and financial situation.
As Mortgage Broker in Leicester, we have come across all different types of Equity Release situations. The most common include and not limited to:
Don’t worry, if your situation is not listed below, feel free to book your free initial mortgage appointment today to speak with one of our Equity Release experts today.
In some cases, even if you’ve not paid off your mortgage in full. You may be able to take out a Lifetime Mortgage to help you to pay these off. However, Lifetime Mortgages might impact your affordability. This is because you already have a substantial outgoing, so the lender may be warier of how much they are lending to you.
Secured debts are debts that are valued against an asset (such as your mortgage valued against your house). Unsecured debt examples include personal loans, credit cards, and this debt is not secured against any particular asset.
You may be able to release equity inside of your home to fund home improvements. This is made possible by Remortgaging to Release Equity. After remortgaging, you’ll likely be put on a Repayment Mortgage, whereas a regular Equity Release will put you on a Lifetime Mortgage. Popular home improvements include:
Some people may want to release equity from their home for something such as a new vehicle, or a holiday, to fund a family member’s wedding. You can spend it how you like!
If you have any questions regarding Equity Release and how it works, feel free to get in touch. Our amazing team would be more than happy to help you!
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Leicestermoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Leicestermoneyman 2025.
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Leicestermoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Leicestermoneyman 2025.
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