Equity Release

What is equity release?
Equity release allows homeowners to take a portion of the value of their property and turn it into cash to spend on whatever they want. Our equity release service is available to any homeowner aged 55 and over and can significantly improve your financial stability in later life.

The amount of equity you can release from your home varies based its value and your age at the time of the agreement with us.

You can choose whether to have the money you release as a lump sum or as regular monthly payment to help support your income on an ongoing basis. These options can be dependent on the type of product you choose from our equity release services.

All cash released is completely tax free and can be used for anything you like. So, whether you are looking to go on an extra special holiday, want to make some home improvements or just want to clear any existing loans then maybe equity release is an option worth considering.

For providers adhering to the Equity Release Council standards, you have the right to remain in your property for life or until you need to move into long-term care, provided the property remains your main residence and you abide by the terms and conditions of your contract.

Please speak to one of our equity release specialists here at Insight Financial Associates before committing yourself to an equity release plan of any kind. Equity release products can only be taken with the help of a fully qualified adviser.

What different types of products do Insight offer to our customers?
There are two ways to release equity from your home. The first is a Lifetime Mortgage where you borrow money against the value of your property but continue to own and live in it.

The second option is called a Home Reversion Scheme. A Home Reversion Scheme works by selling all or part of your property for less than its market value to an equity release provider. You do still have the absolute right to remain in your property for life or until you need to move into long term case, subject to terms and conditions.

Insight Financial Associates only offer Lifetime Mortgages to our clients as we currently feel this product offers significant advantages over the Home Reversion Scheme option. Either way you should always speak to an equity release adviser before you decide on which option is the best route for you and your family.

How long does the equity release process take?
Equity release time frames can differ from provider to provider and can also be affected by the product chosen. Usually the process is complete within 8 – 12 weeks which is something you should consider when deciding if equity release is right for you! As always please consult with an equity release adviser before making any decisions.

How can I find out more about equity release?
To find out more about equity release, please speak to one of the equity release advisers at Insight Financial Associates, we are here to help. You can reach our team by either calling 01603 268080 or emailing us at clientrelations@insightifa.com.