Equity release
Helping you decide which one suits your unique needs and circumstances
Are you over 55 and looking to unlock the value tied up in your home without moving?
Equity Release might be the solution for you.
At Burlington Financial, based in Bridlington, East Yorkshire, and Scarborough, North Yorkshire, we specialise in guiding our clients with independent financial advice through the Equity Release process, ensuring they feel confident every step of the way.
Equity release enables you to access cash from your property while still living in it. But is it the right choice for you? Let’s delve into the details together.
Equity Release will reduce the value of your estate and can affect your eligibility for means tested benefits.
What are the different types of equity release?
Did you know there are two main types of equity release schemes? First, some plans involve transferring ownership or part-ownership of your property to the provider. Second, other schemes allow you to draw a cash sum and repay the lender from the future sale of your property. Both options come with distinct features and consequences.
Understanding how these schemes differ is key. Equity Release can be highly beneficial in certain circumstances, but it’s certainly not a one-size-fits-all solution. That’s why we take the time to explain each option in detail, helping you decide which one suits your unique needs and circumstances.
Why is seeking expert advice crucial?
Have you considered all the factors that come with Equity Release? For example, how might it affect the value of your estate or your entitlement to state benefits? These are questions worth asking. Additionally, the process involves costs like lender arrangement fees, valuation fees and legal expenses, which vary depending on the provider.
We believe in exploring all avenues before planning your Equity Release. Is downsizing an option? Could financial assistance from family members or other forms of borrowing work better? During our discussions, we’ll help you weigh up all alternatives, so you can make an informed decision.
A holistic approach to financial planning
At Burlington Financial, we adopt a holistic approach to financial planning. What does this mean for you? It’s simple—we don’t just look at one aspect of your finances. Instead, we consider your entire financial and personal situation. By doing this, we can develop tailored strategies that prioritise what matters most to you.
Wouldn’t you prefer an advisor focused on your individual circumstances? Our aim is to create solutions designed around your goals, helping you make confident decisions about your financial future.
Things to consider before releasing equity
Have you thought about the long-term implications of Equity Release? Once the funds are released, you’ll still be responsible for maintaining your property at your own expense. It’s also a good idea to involve family members in your decision-making process, as it’s likely to affect the value of your estate.
It’s essential to obtain independent legal advice before entering into an Equity Release arrangement.
With Burlington Financial guiding you through each step, you will feel informed and supported throughout the process.
Want to discover how to unlock the value tied up in your home without moving?
Equity Release can be a valuable tool for some, but it’s not suitable for everyone. Our role is to offer clear, expert advice to assist you in determining what works best for you. With offices in Bridlington and Scarborough, we’re here to help you confidently explore your options and make decisions that align with your goals.
Why not get in touch with Burlington Financial today to discover how our independent financial advice and holistic approach can put your financial plans on the right track? Reach out to us now to take the first step towards securing your financial future.
