Equity release in Thetford, Norfolk: Securing financial freedom in retirement
If you are over 55 and own your house in Thetford or Weeting, you may be able to use equity release to generate tax-free capital. Equity release products allow you to ‘convert’ the equity in your home into a cash-free lump sum or regular sums of money. This can allow you to enjoy a more fulfilling retirement, and the money can be spent as you wish.
Lifetime mortgages in Thetford
We are an FCA-regulated and fully qualified equity release company working throughout Norfolk. Equity release is an increasingly popular way for people in retirement or approaching retirement to boost their income. Our independent and local financial advisors are here to help you make a retirement plan that truly fits your current and future requirements.
Our local equity release company combines personal attention with a straight-talking and down-to-earth approach. We offer a free initial consultation for every client with no obligation to proceed. Our equity release brokers can discuss your aims and needs and provide a responsive approach. You can choose to meet us in person, and we can travel to your home, or we are happy to meet over the phone or via video consultation.
We are not tied to any lenders, which allows us to search from hundreds of products across the market with no bias to find the right one for your needs. We can explain exactly what equity release will mean for you with the benefits and drawbacks associated with different plans.
Equity release is not always the right choice for everyone. Other ways of raising money include downsizing, and we can also access other financial products to suit you, including retirement interest-only mortgages and residential mortgages.
We are here to help. Please call Jeremy now on 01354 688018.
Reasons to release equity from your Thetford 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
Why release equity from your home in Thetford? How property values have increased
If you need specialist equity release advice in Thetford, call Trusted Equity Release. It is essential to get independent and qualified advice. Clearly, many people will have substantial equity in their properties, especially given how much house prices have increased over recent years. This includes Thetford, which has seen a steep increase in house prices over the past few years.
Thetford is a market town that is steeped in history. Offering a great mix of town and rural living, it has beautiful countryside on the doorstep, including Thetford Forest.
Property site Rightmove reports that in 2022 the average property price in Thetford was over £247,000. Most house sales during the year were terraced homes that fetched an average of £193,000. Detached houses sold for an average of £368,000, and semi0-detached homes sold for an average of £230,000. Overall, prices were up 10 per cent from 2021 and 20 per cent on their 2020 peak.
Lifetime Mortgages and other equity release products in Weeting or Thetford
Equity release is the umbrella term for products that provide consumers with a way of releasing the equity tied up in their property without having to sell or move to another home. Our equity release brokers near Thetford will be able to tell you more.
There are two main types of equity release products, both regulated by the Financial Conduct Authority, which means that all firms advising on providing these plans must meet clear standards. The two types of plans are Home Reversion Plans and Lifetime Mortgages.
What is a Lifetime Mortgage?
The most popular type of equity release is a Lifetime Mortgage, where customers retain full ownership of their property, and this is generally the only type of equity release plan that we recommend.
The value of your home plus any outstanding mortgage or other lending secured against your home is your equity. A Lifetime Mortgage allows you to release this equity and receive money as a tax-free lump sum or in smaller amounts to be accessed when needed. Unlike typical mortgages, there are no monthly repayments to worry about, although you can choose to service some or all of the interest and even make capital repayments if required.
The loan plus any interest accrued over time is repaid on either the sale of the property or when you enter long-term care or death. For joint applications, it is when the surviving partner dies or enters care.
We offer independent advice with access to the whole of the market. We are proud to be a registered member of the Equity Release Council, which sets high standards and safeguards to protect consumers. ERC members abide by the council rules and statement of principles so that we can deliver excellent customer outcomes.
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:-
- Barnham
- Brettenham
- Croxton
- Elveden
- Euston
- Kilverstone
- Rushford
- Santon
- Thetford
Can I access an over 55 home loan in Thetford, IP24, without using an equity release adviser?
If you feel that equity release might be the right choice, speaking to a qualified equity release advisor in Thetford is essential. We will always ensure that your personal circumstances have been fully considered and that you have been provided with the right advice.
If you are concerned about your beneficiaries, our equity release advisers will be able to talk to you about plans that allow you to protect some of the value of your property for your beneficiaries.
All our products are approved by the ERC, which means they have no negative equity guarantee. This means that you will never pay back more than your home is worth.
For more information, please see our FAQs.
For free and qualified equity release advice in Thetford, get in touch
To find out more about equity release in Thetford, please call 01354 688 018 or 07768 972 861 or email jeremy@trustedequityrelease.co.uk
