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Equity Release Advice Cambridge

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Equity Release Advice Cambridge

With numerous equity release products or alternatives available, our experts will help you find the right solution for you.

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How does equity release in Cambridge work?

If you’re over 55 and own a home with a value of at least £70,000, you may be eligible for equity release, regardless of whether you have a mortgage or not.

Equity release gives you the opportunity to obtain a tax-free lump sum of cash or multiple smaller amounts from the equity in your home.

As a mortgage broker in Cambridge, we provide our services in all mortgage areas, including equity release for those looking to take out a later life mortgage in Cambridge. Our team of later life mortgage advisors are here to make your equity release journey as simple and stress-free as possible. Our equity release advisors in Cambridge are supported by a diligent team of case managers who will ensure that your process is carried out carefully and correctly, and keep you in the loop during every step of the process.

Before you release equity from your property, your advisor will talk you through the process and make sure that it is the right decision for you. If this is the right way for you to go, we can immediately begin the process, starting with trying to find you the most appropriate equity release mortgage deal for your personal and financial situation.

When it comes to selecting your equity release options in Cambridge, you will be faced with two choices: – the lifetime mortgage, which is available to homeowners from 55+; the home reversion plan, which involves selling all or a portion of your home.

Both types of equity release plans, lifetime mortgages and home reversion plans, are regulated by the Financial Conduct Authority.

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Equity Release Advice Cambridge

Lifetime Mortgages in Cambridge

Whether it’s to provide financial support to your family, pay off existing mortgages or debts, renovate your home, or increase retirement income to cover the rising cost of living, our mortgage advisors in Cambridge can assist you in reaching your financial goals.

Lifetime mortgages give you a way to release tax-free money from your home, where the money can be spent on whatever you want. You will always have complete ownership over your home and can stay there or the rest of your life if you wanted to.

A lifetime mortgage is typically repaid from the sale of your home when you pass away or move into permanent care (for two borrowers, this applies to the surviving borrower).

Lifetime mortgages in Cambridge have become increasingly flexible in recent years, offering options such as voluntary payments, monthly interest payments, and the ability to transfer the mortgage to a different property you plan to reside in.

For further mortgage advice in Cambridge regarding equity release in Cambridge, we would recommend speaking with experts, like ourselves. We offer impartial advice to make sure that you are making the right decision for your personal and financial situation.

The best way to speak directly to a later life mortgage advisor in Cambridge is to book a free mortgage appointment online or by giving us a call on 01223 653832.

Free Mortgage Appointment in Cambridge

If equity release is practicable for you, your Later Life mortgage advisor in Cambridge will source the best product that will be appropriate for both you in the present and in the future from the whole of the market. When it comes to Equity Release in Cambridge there are two types, one being a lifetime mortgage which is available for 55+ and the home reversion plan (which involves selling all or part of your home).

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.

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Equity Release FAQs in Cambridge

What is equity release in Cambridge?

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Equity release in Cambridge allows eligible homeowners aged 55 or above with a property valued at least £70,000 (no mortgage required) to access funds through a lifetime mortgage.

This option allows you to release money in the form of a loan secured against your home’s value while retaining ownership. The loan must be repaid upon death or moving into long-term care, usually from the sale of the property.

Is equity release in Cambridge right for me?

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Equity release in Cambridge could be for you, however, it also may not be for you. Your later life lending mortgage advisor in Cambridge will help you decide whether equity release is the right option for you. They will ask questions such as why you want to release equity and what your future plans are regarding living in the property in the future.

If there are alternatives available that will benefit you more than releasing equity in Cambridge, our advisors will be transparent and advise that you take this option. We know that talking to us is important, however, we also strongly advise you to involve your family in our talks, though this is your choice.

It’s really all down to what the highest value solution is for you and your long-term needs. We actively encourage you to involve your family in our talks, though this is your choice.

Do I still own my home if I take out equity release in Cambridge?

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When taking out a lifetime mortgage through releasing equity in Cambridge, you keep full ownership of your home. This means that upon death or transition to long-term care, the outstanding balance of the loan will be repaid from the sale of the property, with any remaining equity going to you or your estate.

What are the benefits of a lifetime mortgage in Cambridge?

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A lifetime mortgage can offer benefits such as the option to receive payments in monthly instalments rather than in one lump sum. It’s common for people to opt for rolling up interest instead of making monthly payments.

It’s important to keep in mind that your home will be sold after death or long-term care to repay the mortgage balance. If you choose not to make monthly payments, this could result in a reduced inheritance for your beneficiaries.

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Our Simple Mortgage Process

Free 45-Minute Chat About Your Future

Step 1

During your free appointment, you will speak with a later life mortgage advisor in Cambridge about your inheritance plans and goals.

Alternatives to Equity Release

Step 2

We will consider equity release and lifetime mortgages only after exploring other alternatives that may be better suited to your needs.

We will examine the best options for you, including retirement mortgages and the possibility of charity participation.

Discuss With Family / Trusted Parties

Step 3

Given the importance of releasing equity, we strongly encourage customers to involve family members or trusted individuals in the discussions.

We will review all of your equity release options, plans and financial information so that you know what you are taking out.

Tailored Lifetime Mortgage Recommendation

Step 4

If your equity release mortgage advisor in Cambridge believes that equity release is the most appropriate route for you to take, we can go ahead and find you the perfect deal for your situation.

We will provide a personalised lifetime mortgage recommendation, taking into account any inheritance plans you may have.

I have Equity to Release, can you help?

Can You Help Me Remortgage to Release Equity?

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Yes, equity release is one of our specialities as a mortgage broker in Cambridge. Here at Cambridgemoneyman, we can also help you with a standard Remortgage enquiry. If you have any questions, don’t hesitate to get in touch if you are near the end of your fixed period.

Why Should I Use Cambridgemoneyman For My Remortgage?

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As a fast and friendly Mortgage Broker in Cambridge, the customer is the heart of this business. This is why we choose to help many customers achieve their mortgage goals. We aim to always do our best to overcome any mortgage hurdle that we are faced with no matter how difficult the situation is; we love a good challenge!

Free Later Life Mortgage Appointment

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During your free initial mortgage consultation, our Mortgage Advisor in Cambridge will go and search 1000’s deals for the most suitable mortgage deal that matches your personal and financial situation.

Once we recommend you a mortgage deal that you want to continue with, we will be able to get the ball rolling with your mortgage application.

Open & Honest

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We also have the ability to help you sort out conveyancing solicitors, providing advice on which may be the best survey for you to take. If you need help with anything at all regarding your mortgage process, please get in touch with your dedicated mortgage advisor in Cambridge or mortgage administrator. They'll do what they can to help you out.

Our Service

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We will hold your hand through the whole mortgage process by providing open and honest mortgage advice in Cambridge. We will get through the mortgage journey together.

Malcolm and Amy Davidson - Mortgage Advice in Cambridge

Finding you the Right Equity Release Deal in Cambridge

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Popular Options For Equity Release in Cambridge

Equity Release to Pay Off a Mortgage

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For some customers, even when they haven’t finished their fixed-term mortgage. It was possible to take out a lifetime mortgage and use the equity to pay off the remaining balance. However, taking out a lifetime mortgage early can impact your affordability. The main reason being is you already have a significant outgoing to pay for, which could impact the amount that a lender is willing to give you.

Equity Release to Pay Off Unsecured Debts

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Secured debts come under mortgage payments because you are securing the money against an asset, primarily your house. Unsecured debt examples include any personal loans and credit cards, as the debt is not secured against any particular asset. If you were to take this route, you would release your equity to pay off that unsecured debt.

Equity Release for Home Improvements, Modifications or Alterations

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Sometimes your home needs a little makeover, or some improvements/conversions, that is why some choose to release equity to fund said improvements. How it works is similar to if you were wanting to remortgage to release Equity, with the difference being that if you remortgage to release equity, it’s likely you’ll be put on a Repayment Mortgage, whereas a regular equity release will put you on a lifetime mortgage.

When releasing equity for home improvements, some of more popular choices can include; a new kitchens, improvements to the garden, home offices as more people are choosing to work from home, conversions, and a new or additional garage.

Equity Release for Additional Purchases

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Some, look into release equity for other reasons, maybe make a purchase on a new vehicle, go away on holidays, use the funds for a family member’s wedding, these are just to name a few. It can be anything you want. As you are the owner of the property, the equity is yours so you can spend it how you please.

If you have equity release mortgage enquiries, feel free to get in touch with our team today. We have equity release specialist mortgage advisors in Cambridge, who we are able to lend a helping hand to start your process.

Holiday Lets Cambridge

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If you are looking to purchase a property that you want to let out on a short-term basis over time, Holiday Lets might be suited for you.

Just be aware that holiday lets are known as a specialist type of investment. Therefore, not all lenders will not cover this in their criteria so there are limited products for you to choose from.

The good news is, we have a strong team of mortgage advisors in Cambridge that have a lot of knowledge in lending criteria in terms of a holiday let and can help explore your options.

The scenarios mentioned above are based on previous encounters our team faces on a daily basis when providing open and honest Mortgage Advice in Cambridge.

If you would like to speak with one of our Mortgage Advisors in Cambridge, book yourself for a free mortgage appointment today. Even if your situation doesn’t apply to the ones above. Our experience has provided us with the opportunity to deal with a range of situations so you may find that your situation is probably one we have dealt with before.

Mortgage Guides & Cambridgemoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.

UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.

We are entered on the Financial Services Register No. 627742 at

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