Over 55 home loans and equity release brokers in Spalding, Lincolnshire
Our expert equity release advice is available to all homeowners over 55 based in Spalding or Holbeach. Our equity release specialists can offer advice about equity release mortgages and retirement mortgages, so you can fund home improvements, a dream holiday, or boost retirement income.
Lifetime mortgages in Spalding
Releasing equity from your property is an important decision requiring much thought, discussion and professional advice. Here at Trusted Equity Release, we have a wealth of experience in finance industries and have access to the whole of the equity release market so that we can provide bespoke advice and assistance.
Our equity release brokers can give you all the information that you may need to make an informed decision. In addition, we enjoy building personal relationships with our clients, so we can understand their wants and aims and will offer our best advice.
We are proud members of the Equity Release Council, which means that we only recommend products that meet the ERC standards. This includes the following:
- You must have the right to remain living in your property for life or until you need to move into long-term care, provided the property is your main residence and meets the terms and conditions of your contract.
- You have the right to move to another property as long as it meets the criteria set out by your product provider.
- All equity release mortgages must have a ‘no-negative equity’ guarantee. This means that after all fees have been paid, you will never owe more than the value of your property.
- All people taking out new equity release plans which meet ERC standards must have the right to make penalty-free payments, subject to lending criteria.
Our equity release company is here to help you make the right financial decisions for your future. Please call now on 01354 688 018.
Reasons to release equity from your Spalding home
- To pay off existing debts or a residential mortgage
- To fund home improvements or adapt your home so you can continue living there
- To add to your retirement income for day-to-day living costs
- To help children or grandchildren with a 'living inheritance' – usually used for housing costs to pay for a wedding or education
- To go on holiday or travel more
- To fund care at home or private medical bills
Releasing equity in Spalding: How property prices have grown
Spalding is based on the River Welland in South Lincolnshire and is considered a wonderful place to live. Often called the heart of the Fens, the area boasts excellent schools, stunning architecture, and all the amenities associated with a traditional market town.
If you invested in property in Spalding some time ago, you would have seen the value of your investment go up significantly. Property site Rightmove states that in 2022 the average property price was over £230,000. The majority of property sales during the previous year were detached homes that fetched an average of £302,000, whilst semi-detached houses sold for an average of £200,000. Terraced homes sold for an average of £164,000. Overall, prices were up 6 per cent on 2021 and 17 per cent on 2020.
Boost your capital with Lifetime Mortgages in Holbeach or Spalding
Are you over the age of 55 and looking to boost your income in Holbeach or Spalding? We can provide you with all the information you need about equity release to make an informed decision. The benefits of equity release will always need to outweigh the drawbacks in order for equity release to be the right decision for you.
A Lifetime Mortgage is a type of equity release scheme whereby a loan is secured against your property, providing you with a tax-free lump sum of money or regular income to spend as you wish. Interest is added to the Lifetime Mortgage throughout your lifetime and accrued at a fixed or variable rate for life. Then, when you eventually die or move into long-term care, the loan plus interest is paid back.
The advantages of lifetime mortgages include the fact that you can choose a cash sum or regular income. There are typically no monthly repayments to meet, and you will still live in your home, so all the growth in any value will belong to you. All our plans include no negative equity guarantee, and some also enable you to guarantee an inheritance for your family. Lifetime Mortgage plans can be taken out as early as young as age 55
If you do not wish to receive your cash in one lump sum, you choose a Drawdown Lifetime Mortgage where you can decide on the maximum amount of equity you want to release and the cash in stages as and when you need it. This means you have control of the money as you release it, and you may able to request a monthly income with no monthly repayments to make. You only pay interest on the amount of equity released from your home so that interest can accumulate more slowly than the regular lifetime mortgage.
There are also lifetime mortgages that allow you to pay some or all of the interest to stop it from accruing over time.
Book an equity release consultation with Jeremy. No obligation consultations can be held in the comfort of your own home in any of the following locations:-
- Cowbit
- Deeping Saint Nicholas
- Gosberton
- Holland
- Moulton
- Moulton Chapel
- Parts Of Holland
- Pinchbeck
- Quadring
- Spalding
- Surfleet
- Twenty
- Weston
- Whaplode
What can over 55 home loans be used for in Spalding, PE11?
Unlocking the cash tied into your home can be an ideal way of funding plans in Spalding.
- Paying off a mortgage or debts: You can use equity release to pay off an existing residential mortgage or any outstanding debts.
- Home improvements: Are you hoping to complete a home or garden renovation? Equity release is commonly used for home refurbishments, and homeowners can enjoy the ensuing increase in property values.
- A living inheritance: Many people choose to release equity to help their families with housing and other costs. It means they can offer financial help to family whilst they still have the opportunity to see them enjoy it.
- Travel: Some people choose to release equity to fund once-in-a-lifetime holidays or to travel more.
Please see our FAQs.
Find out more about equity release and later life mortgage lenders in Spalding by calling us now on 01354 688 018 or 07768 972 861 or by emailing jeremy@trustedequityrelease.co.uk
