Equity Release Hertfordshire
Mark Glithero
Equity Release Adviser
Dip Financial Services, FCIB, FPC, CeRER, CeMAP
Mark Glithero is your local Equity Release Specialist in Hertfordshire, covering areas such as: Enfield, Hertford, St Albans, Potters Bar, Broxbourne & the surrounding Hertfordshire area.
Get more out of later life with Equity Release
Whether that’s through making those vital home improvements, heading on a trip of a lifetime, helping loved ones get on the property ladder – the choice is yours. Equity release is a way of unlocking the equity stored up in your home and turning it into a tax-free, cash lump sum. An equity release plan allows homeowners aged 55 and over to access some of the cash locked in the value of their home. The value of your home, minus any outstanding mortgage and any other loans secured against it, is the equity you have in your property. This equity is often passed on as an inheritance, however an increasing number of people are tapping into some of this wealth to help boost their retirement lifestyle. After years of working hard to make monthly repayments, your home is likely to be your biggest asset, particularly if you have benefitted from an increase in house prices over the last few decades.
Get Local Advice In Hertfordshire
Speak to Mark Glithero your local Hertfordshire based Equity Release specialist
Expertise
The Property Market in Hertfordshire for Equity Release
The appeal of living in Hertfordshire lies in its perfect balance of historic charm, convenient commutability to London, and abundant green spaces, offering residents a unique blend of heritage, accessibility, and natural beauty.
The historic county of Hertfordshire contains a wide array of historic properties ranging from Tudor-era manors to Victorian townhouses. The accessibility of the efficient transport links such as via train services from towns such as St Albans or Hitchin to London, many professionals find Hertfordshire an attractive option for a home, especially with the current prices of property in London.
Hertfordshire reported an overall average price of £518,256* over the last year which is significantly higher than the UK average of £282,000 in January 2024**.
We have helped many customers based in the Hertfordshire area with lifetime mortgage solutions, tailoring our financial advice to their unique needs. Our adviser can work closely with you, your partner and family members too to ensure that equity release is the right option for you.
Our experienced equity release and lifetime mortgage adviser based in Hertfordshire is Mark Glithero.
*https://www.rightmove.co.uk/house-prices/hertfordshire.html
**https://www.gov.uk/government/news/uk-house-price-index-for-january-2024#:~:text=Average%20UK%20house%20price%20annual,lower%20than%2012%20months%20ago
Whole of Market Advice
Unlock the value of your home and access tax-free cash with our equity release solutions.
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Experienced
Learn more about Mark Glithero – Hertfordshire Equity Release Specialist
Based in Waltham Cross, Hertfordshire, Mark is a highly experienced equity release and lifetime mortgage specialist, with a vast knowledge of Hertfordshire, London, and the home counties, he is well placed to advise you on your equity release journey. “I am a professionally qualified financial adviser with 9 years’ experience in the later life lending market & knowledge built up over 40 years’ in the financial services sector. I really enjoy helping my clients overcome any financial challenges in their lives in order to provide them with long term financial security. I specialise in Lifetime mortgages & will always recommend the best solution to meet my client’s needs from the “Whole of the Market” You have the peace of mind of knowing that achieving my clients’ objectives & making a positive change to their lives is my priority.” – Mark Glithero, Hertfordshire Equity Release Adviser If you are looking for equity release in Hertfordshire, please contact us today.
A holistic approach to retirement planning by accessing your property wealth
For the majority of us, property is our biggest store of wealth, more so than even our pensions. Yet, property is currently used much less than pensions in retirement income planning. It’s important to think more holistically about wealth and being better equipped in this way will help us achieve the retirements we all want to have.
How much can I release?
The amount you can release depends on your age, how much your house is worth and your health and lifestyle.
Generally, the older you are, the more you can release.
Some providers take your health and lifestyle choices into consideration which could enable you to release more money.
Calculate how much you could release for free using our simple equity release calculator:
Calculate your release for free.
Flexible features for personalised plans.
Here’s an overview of the flexible features available with equity release plans, designed to ensure you get a plan that’s right for you: Lump sum or drawdown No monthly repayments Partial capital repayments Downsizing protection
What are the disadvantages of equity release?
Equity release will reduce the value of your estate and the amount that will go to the people named as beneficiaries in your will. If you have gone with a home reversion plan, then the home reversion company owns all or a part-share of your home. A lifetime mortgage is a loan secured against your property and if you do not pay the mortgage interest the amount borrowed increases with compounded interest. It could cancel or reduce your entitlement to means-tested benefits, now or in the future due to you receiving a lump sum of money that increases your savings. Receiving a lump sum may also reduce the amount you have available for future care needs and costs.
How would you spend your tax-free cash?
If you are considering releasing a tax-free cash lump sum, then you most likely have an idea in mind of how you want to spend it. Some of the most popular reasons for releasing cash include: Making home or garden improvements Paying off an existing mortgage Helping friends and family Buying a new car Going on holidays Purchasing a holiday home Clearing credit cards and loans to increase disposable income
Drawbacks of Equity Release
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Reduced Inheritance: equity release will reduce the value of your estate.
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Impact on Means Tested Benefits: Releasing equity may affect your eligibility for means-tested state benefits.
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Early Repayment Charges: Significant financial penalties can apply if you decide to repay the equity release plan early or want to end it.
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Increasing Debt Over Time: Due to the compound interest on the loan, which adds up until the loan is repaid, typically when you move out of the home or pass away.
Other options include
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Home reversion
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Later life residential mortgage
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Interest payment lifetime mortgage
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Retirement interest-only mortgage
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Downsizing
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Unsecured lending
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Existing assets
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