Equity release mortgage deals

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There are hundreds of equity release mortgage deals in the UK and finding the right one can be time consuming and frustrating.

If you’re searching for an equity release mortgage deal, First Mortgage can help you find the very best offers from the whole of the UK market. We don’t charge a thing for our service, providing a totally impartial and free market search.

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What is an equity release mortgage deal?

If you have nearly paid of your mortgage, or are looking for more cash in retirement, an equity release deal could be your best option. This type of deal allows you to sell part of your home in exchange for a cash sum without moving house. You can do this in one of two ways: reversion or a lifetime mortgage. A lifetime arrangement provides a cash amount spread over a period of years, effectively as a loan secured against your property. The interest is only payable when you die or move to a nursing home and the house is then sold, paying off the outstanding interest. Reversion schemes allow you to sell a percentage of your property in return for a lump cash sum or monthly payment.

Is an equity release mortgage deal right for you?

Before you make a decision on taking out a mortgage, it’s worth considering the following details about this type of deal:

 If you are asset rich, but cash poor in retirement, this is a good way of raising funds
 You won’t have to move house to take advantage of the deal
 Although it’s worth fully checking with your solicitor, staying in your property and not moving can help reduce inheritance tax
 With a lifetime mortgage you will need to clarify how much of the property will be yours to pass on to your children/grandchildren
 You may lose some rights to means tested benefits such as pensions or disability allowance
 Remember to use the released sum wisely - making other investments if possible
 Your tax may be affected by income-payment arrangements

Find an equity release mortgage deal

Feel free to get in touch with us on 0845 603 1525. Our team can help you with any questions you may have and arrange an immediate quote.

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