Types of equity release plan

There are two categories of equity release plans – Lifetime Mortgages and Home Reversion plans (and we’re experts on both!).

The most suitable plan for you will depend on:

• • How much money you wish to access (Complete our free online equity release calculator to find out how much you could access)
  • If you want to access any money at a later date with a drawdown facility
  • If you plan to downsize or move in the future
  • The value of your property
  • If you plan to pay off all or some of the lifetime mortgage in the future
  • Whether you want all the money right now
  • The ages of you and your partner (if applicable)
  • If you wish to guarantee an inheritance for your loved ones
  • Any outstanding mortgage even a lifetime mortgage
  • Your health and lifestyle (see ‘How much equity can I release?’)

All these matters factors and more are part of the Bower Advice process we discuss with you so that you can make an informed decision. Only when all these factors have been discussed can a recommendation be made which may be an alternative solution to equity release.

The two types of regulated plans available are a:

Lifetime mortgage Home reversion plan

To find out which type of plan is best for your individual needs and circumstances, simply get in touch with us. We’ll arrange a free, no-obligation consultation in the comfort of your own home with one of our expert advisers. Just call free phone 0800 411 8668 to find out more.