Looking for equity release specialists in Surrey? At Bower Home Finance, we are here to help you understand how equity release works and how you could benefit from unlocking the value in your home.
Our Surrey-based advisers are committed to providing clear, straightforward guidance, offering a comprehensive range of services tailored to your needs. Our advisers are available to advise on all aspects of equity release, ensuring you feel confident at every step of the process.
To find out more and discover how equity release could work for you, contact our friendly team today.
Are You Searching for Equity Release Advisers in Surrey?
If you are looking for expert advice on equity release in Surrey, Bower Home Finance is here to help. Our experienced Surrey-based advisers have been supporting homeowners for many years, offering specialist knowledge of both the equity release market and the local property landscape in areas such as Guildford, Woking, Epsom, and Farnham.
We understand that your home is more than just a property, it is part of Surrey’s charm, whether it is the rolling hills of Box Hill or the historic beauty of Hampton Court Palace. That is why we take the time to help you explore how much equity is in your home and whether unlocking your property wealth could be the right solution for your needs.
Our approach is always personal and tailored. We focus on your individual circumstances, building strong relationships with our clients and guiding you through the equity release process with clear, transparent, and honest advice. We are committed to helping you make the right decision for your circumstances, ensuring you fully understand the benefits and drawbacks before proceeding. Our Surrey advisers are not only equity release experts but also empathetic problem-solvers who aim to provide solutions that truly fit your life and future plans.
At Bower Home Finance, we help customers access the financial value tied up in their home, helping them enjoy more of life today while preparing for tomorrow. Our advisers can also help you consider other options alongside equity release, so you can be confident you are choosing the most suitable path for your needs. To find out more, speak with our friendly Surrey team today.
Equity Release – What Exactly Is It?
Equity release is a group of financial products designed for homeowners aged 55 and over to unlock the wealth tied up in their property without needing to move home. These plans are tailored to homeowners seeking to improve their lives in retirement.
In Surrey, equity release can be a practical option for those wishing to supplement their retirement income, fund home renovations, or support family members financially, all while enjoying the familiar surroundings of areas like the picturesque Surrey Hills or the historic settings of Richmond. By releasing equity from their home, retirees can enhance their retirement income, gaining greater financial freedom and the ability to enjoy their retirement years with peace of mind.
Professional equity release advice in Surrey ensures that homeowners make informed decisions, understanding both the benefits and implications of tapping into their home equity while continuing to live in the homes they love. If you want to learn more about equity release plans speak to our team today!
What Are the Two Main Equity Release Options in Surrey?
A lifetime mortgage
This is the most common type of equity release available to homeowners over 55. It is a loan secured against your home that is usually repaid from the sale of your home when you pass away or move into long-term care. With a lifetime mortgage, monthly payments are not required, however you will have the option to make payments towards the interest if you choose. A lifetime mortgage is the most popular as it does not involve selling your home.
A home reversion plan
This less common type of equity release is available to homeowners over 65. It requires you to sell part or all your home to a provider; however, you can stay there without paying any rent for life. The provider will then reclaim the percentage sold at market value when the property is sold when you pass away or move into long-term care.
The property market in Surrey
Known for its scenic countryside, historic towns, and proximity to London, Surrey is a highly desirable place to live for families and professionals alike. From the rolling hills of the Surrey Downs to vibrant market towns like Guildford and Farnham, the county offers a mix of rural charm and modern convenience. Excellent transport links and access to green spaces make Surrey a popular choice for those seeking a balance between city and country living.
In 2024, the average house price in Surrey stood at £566,381, reflecting the county’s enduring appeal and strong property market.
Equity release advice in Guildford
As a historic market town surrounded by the natural beauty of the Surrey Hills, Guildford combines centuries of heritage with the convenience of modern living. Its cobbled High Street, cultural attractions, and excellent transport links make it a sought-after place to call home. If you are considering releasing equity from your home in Guildford, our specialist equity release advisers are here to support you. Equity release can be a valuable option for those in later life, helping to provide extra financial security for covering care costs, funding home improvements, or enjoying more freedom in retirement.
Woking equity release advice
Once a modest railway town, Woking has grown into a thriving hub known for its modern developments, cultural attractions, and excellent transport links into London. With a mix of urban convenience and nearby green spaces, it is an increasingly popular place to live. Our specialist equity release advisers in Woking are here to guide you through your equity release journey. Speak with our team today to explore your options and find out how equity release could work for you.
Is Equity Release Suitable for Surrey-Based Properties?
Equity release can be an appealing option for Surrey-based properties, given the area’s generally high property values and desirable locations. Surrey offers an ideal location for a range of people: couples, families, singles, and even friendship groups.
Equity release offers homeowners in Surrey a way to unlock their homes’ financial potential by accessing money tied up in their property, providing a flexible source of cash for lifestyle improvements, helping family members, or funding major expenses.
This can allow residents to maintain their lifestyle, manage expenses, or provide for their families without selling or moving from their cherished homes.
As always, seeking specialised advice from accredited equity release advisers in Surrey, such as ours at Bower Home Finance, who understand the local market dynamics and can offer guidance tailored to individual circumstances and goals, is crucial.
Get started today by speaking with one of our equity release specialists; we can guide you on all your options regarding equity release, including the amount you can release which depends on factors such as your age, property value, and lender criteria.
Who Is Eligible for Equity Release in Surrey?
To qualify for equity release in Surrey, you must meet specific age and property value criteria. Generally, homeowners over 55 with properties valued at approximately £70,000 or more are eligible, although these thresholds can vary by lender and specific equity release scheme.
Location, condition, and property type can also influence eligibility for equity release. It is advisable to consult with an equity release specialist, such as our advisers at Bower Home Finance, to thoroughly understand the eligibility requirements tailored to Surrey’s property landscape. Our team is adept at navigating the nuances of Surrey’s varied property types and high-value areas.
Explore your options with our equity release calculator to get an estimate of the funds you could unlock from your Surrey property. This tool can provide a clearer picture of the financial potential available to you through equity release.
Common Uses of Equity Release
Equity release is a versatile financial tool that can help Surrey homeowners achieve a variety of goals. Many people use releasing equity to pay off existing debts, such as outstanding mortgages or other loans, providing peace of mind and a fresh start in retirement. Others choose to invest in home improvements, making their property more comfortable or accessible for later life.
Supporting family members is another common reason for equity release, whether it is helping children onto the property ladder, funding education, or providing a financial gift. Some homeowners use equity release to supplement their retirement income, ensuring a more comfortable lifestyle or covering unexpected expenses, such as long-term care.
The Equity Release Process at Bower Home Finance
The equity release process is designed to be straightforward and supportive, starting with a free initial consultation with a qualified equity release adviser. During this initial meeting, you will have the opportunity to discuss your financial goals, personal circumstances, and any concerns you may have. Your adviser will help you determine whether equity release is the right solution for you, considering factors such as your eligibility, the impact on your state benefits, and your long-term plans.
If you decide to move forward, your adviser will provide a personalised illustration that outlines the potential benefits and risks of equity release, including details about interest rates, fees, and how the plan could affect your inheritance tax position. You will also learn about important safeguards, such as the ‘no negative equity’ guarantee, which ensures you will never owe more than the value of your home.
Once you are comfortable with your decision, your adviser will guide you through the application process, liaising with the lender and handling all necessary paperwork. After approval, you will receive your funds as a lump sum or regular income, depending on your chosen plan. Throughout the process, working with an equity release council-approved lender ensures you receive the highest standards of service and protection, helping you make an informed decision that is right for your needs.
Are You Looking for Equity Release in Surrey? Speak To Bower Home Finance Today!
If you are considering equity release in Surrey, contacting Bower Home Finance is a wise first step. Our expert advisers specialise in understanding the nuances of the Surrey property market and can provide tailored guidance based on your needs and circumstances.
With Bower Home Finance, you can explore various equity release options that allow you to unlock your home’s financial potential while ensuring that you benefit from safeguards like the ‘no negative equity guarantee.’
Whether you want to enhance your retirement income, fund a significant expense, or support family members, our knowledgeable advisers help you confidently navigate your choices.
Contact Bower Home Finance today to discover how to maximise the value of your Surrey property.
At Bower Home Finance, we will understand your unique circumstances and advise you to ensure you are receiving the best plan to meet your objectives. There are plans that allow you to make voluntary repayments and move home, subject to lender criteria. However, early repayment charges may apply in certain circumstances.
Bower Home Finance provides independent, impartial whole of market equity release advice with an award-winning customer service experience. Initial advice is provided at no cost to you and without obligation. Only if you choose to proceed and your plan completes, would a typical advice and administration fee of £1,695 be payable.
Equity release requires paying off any existing mortgage. Any money released, plus accrued interest to be repaid upon death, or moving into long-term care. Equity release will reduce the value of your estate and your entitlement to means-tested benefits now or in the future, and impact long-term care funding. If you are considering equity release, we strongly recommend that you read our Equity Release page carefully and talk to one of our specialists before deciding if you wish to proceed.
To find out more about any of the products and the service we provide, please call us on freephone 0800 411 8668, request a call back, email us, or use our live chat on our website.
Please be aware that equity release may involve a home reversion plan or lifetime mortgage which is secured against your property. All features and risks are thoroughly explained in your free personalised illustration.
