Equity Release Devon

At Bower Home Finance, we believe in building a trusted relationship with your local equity release adviser which is why we work closely with our team to match you with a local equity release Devon adviser who can help you through your equity release journey. 

We have over 18 years of experience in helping homeowners release equity from their home to reach their financial goals. Whether you’re looking to clear any existing debts or mortgages, supplement your retirement income to enjoy the lifestyle you had prior to retirement, or simply release extra cash to go towards larger purchases such as cars and holidays, your local adviser Andrew Ferrett is here to help you explore all your options. 

Andrew Ferrett

CeMAP, CeRER 

0808 175 0392 
Devon, South West England

Your local Devon Equity Release Adviser 

At Bower Home Finance, we believe in putting our clients first in everything we do, which is why we’ll match you to a local equity release adviser. By arranging a meeting with your local Devon equity release adviser, Andrew Ferrett, we can discuss your options and personal circumstances face-to-face or over the phone, with someone who knows and understands your local area. 

We want you to feel confident in your decision, which is why we will encourage you to involve your loved ones in our conversations so we can answer any questions you might have and explain equity release in a way that suits your family’s circumstances. 

Your equity release options in Devon 

There are two main types of equity release plans available in Devon, home reversion plans and lifetime mortgages.  

Home reversion plans 

A home reversion plan allows homeowners aged 60+ to release tax-free cash from their home through selling part, or all, of their home to a provider. Whilst home reversion plans involve selling part of your home, you can remain rent-free in your home until you pass away or move into long-term care. In which case, your home will need to be sold, and the provider will reclaim the percentage sold at market value from the sale proceeds.  

Lifetime mortgages 

A lifetime mortgage is the most common type of equity release, which comes in the form of a loan secured against your home. Whilst both types of equity release allow you to continue living in your house until you pass away or move into long-term care. However, you will maintain ownership of your house until it is sold, unlike a home reversion plan which involves selling part of your home.  

Available in the form of a tax-free lump sum or drawdown facility to access at a later date, your provider will assess the value of your home and lend a percentage of its value with interest charged on the amount of funds released. However, unlike a traditional mortgage, there is no obligation to make any repayments as your lender will reclaim the amount owed when you pass away or move into long-term care, often through the sale of your home.  

With a wide range of options on the market, it’s important to discuss your options with a qualified equity release adviser who can recommend plans based on your personal circumstances.  

The equity release process 

The first step in the equity release process is to find a local equity release adviser who can search the whole of the market and offer independent financial advice. The adviser you choose should be happy to involve your family members whilst discussing your options. 

Your adviser will chat through the options that will be most suitable for your circumstances and research which equity release products offer the best terms, compare any key features of the plans and the interest rates that are available across the market efficiently. 

Based on the options available, your adviser will advise on whether they think equity release is right for you and which plans might be suitable. If you choose to proceed, your adviser will liaise with the chosen lender and the solicitors of your choosing to proceed with any valuations of your property, paperwork and applications for the equity release plan, dealing with all legal complexities to ensure a smooth process. 

Before proceeding, your adviser will help you consider the implications of equity release on your estate carefully and if there will be an interest charged, what this will look like over the lifetime of the loan. 

Finally, once your application has been submitted and approved, the funds will be released to your solicitor who will send it to your chosen bank account. If you have chosen to have any fees paid from the money release, this may be deducted before it is sent to you. 

Finding the right equity release advice in Devon 

Finding the right advice can be difficult with so many companies offering advice around equity release and later life lending. At Bower Home Finance, we believe choosing your adviser should be made simple, which is why we skip the jargon and match you to a local independent equity release specialist, so they can get to know you, offering personalised, whole of market advice straight to your door or over the phone. This will start with an informal chat to discuss your options without any obligation. 

If you’re looking for an equity release adviser, you should be aware of the types of advice and what to look for. If you’re looking for an equity release adviser, we recommend you ask: 

• If the adviser offers whole of market, panel or tied advice 
• If the adviser would be happy for your family members to be involved in any conversations 
• If the adviser is a member of the equity release council 

Whole of market equity release advice 

A whole of market adviser will have access to the full range of equity release schemes available across the whole of the equity release market.  

Tied equity release advice 

Any advisers that offer tied equity release advice are tied to a single lender which means they will only be able to offer advice on the specific products available from the lender they are tied to, limiting your options. 

Panel equity release advice 

Panel advice means the adviser will only be able to compare options across a few specific equity release lenders. Whilst this isn’t inherently bad, this may limit the options available to you.  

The property market in Devon 

Showcasing its rich history of medieval towns and picturesque beaches, Devon is a hotspot for homeowners and tourists alike. With an average house price in Devon of £325,929 in 2024, and house sales showing a slight decline, many homeowners in Devon are choosing to remain in their homes and live out their retirement in this historic county. Releasing equity has become a popular option for these homeowners, providing financial assistance through property value schemes. 

Whether you’re looking to make some home improvements to live out your retirement in your dream home or wanting to raise some extra funds to do the things you enjoy, your local equity release adviser is on hand to help discuss your options. 

Contact us today to learn more about your equity release options in Devon or find out how much wealth you could release from your home with our free online equity release calculator. 

Equity release Dartmouth 

Known for its maritime heritage, streets and historic harbour, Dartmouth is popular with homeowners who enjoy a slower pace of life along the coast. If you’re looking to release equity from your home in Dartmouth, our specialist advisers are here to help you explore your options.  

Offering face to face and telephone appointments, our expert advisers offer tailored advice in a way that works for you, around your lifestyle.  

Equity release Exeter 

As one of the most historically interesting cities in England, Exeter is bursting with things to do and see for both locals and tourists alike. At Bower Home Finance, our local advisers are here to help you understand your equity release options.  

If you’re looking for equity release in Exeter, get started today with no obligation whole of market advice from your local equity release adviser.  

Equity release Torquay  

Famous for its coastal beauty, historical sites and water sports, Torquay is at the heart of the English Riviera. If you are looking to release equity from your home in Torquay, our local adviser is here to discuss your options and find you the best plan for your circumstances.  

Get started today and request a callback from your local equity release adviser, Andrew Ferrett.  

Find out how much equity you could release from your home in Devon 

Whether you’re looking to release equity from your home to pay off your existing mortgage or debts, make some much needed home improvements, or help family with a gift, equity release can help you release tax-free cash from your home in the form of a lump sum or drawdown facility to access at a later date. 

Our independent advisers are here to help you understand your options and speak about the plans available to you. Get started today and find out how much equity release you could release with our free online equity release calculator. The amounts lent are typically repaid from the proceeds of property sales after the borrower moves into long-term care or passes away. 

Equity release council members 

At Bower Home Finance, we’re proud members of the Equity Release Council. The Equity Release Council is the industry body for the UK equity release sector, setting industry standards and encouraging its members to uphold its statements of principles.  

The council’s members are comprised of qualified financial advisers, solicitors, and intermediaries. At Bower Home Finance, each of our equity release advisers are members of the Equity Release Council and uphold their standards in everything we do.  

Learn more about the safeguards of equity release.  

Rated exceptional on Feefo 

We’re proud of the service we provide to our customers, and the relationship we’ve built with them along the way.  

As our ethos, we put trust, honesty and service at the heart of everything we do, so if we believe equity release is not the right option for you, we will not recommend it, and we are always happy to chat through any alternatives and questions you might have.  

But don’t just take our word for it, take a look at our Feefo reviews to learn more about the experience our customers have at Bower Home Finance.  

Learn more about your local Devon equity release adviser, Andrew Ferrett 

I provide professional, friendly and whole of market advice on equity release, including Lifetime Mortgages and Home Reversion Plans, for your retirement planning. This can be through face to face, no obligation meetings across Devon and Cornwall, as well as via phone or video conferencing to find the best solution for you.  

I am a trusted equity release Advisor, offering you local, expert professional advice. I’m here to help you decide if equity release, in terms of a Lifetime Mortgage or Home Reversion Plan, is right for you as part of your retirement planning. You’ll benefit from a truly personal service, and I’ll get to the heart of your needs, so I can recommend the best plan for you.  I am a member of the Equity Release Council – an organisation set up to protect the interests of plan holders, with benefits such as the “no negative equity guarantee”.