Get expert tailored advice to release equity from your property. With advisers who specialise in advice for wealthy clients and clients with high value properties.
Releasing the equity from your home can seem a challenge, especially if it is something you have never done before. There are so many companies and opinions out there you might be asking yourself, who really are the equity release experts? Where do you even begin with the whole process? Most importantly, who can you trust to advise you properly and deliver an exemplary service? At Bower Private Clients, we completely understand how you might be feeling, which is why we offer:
We’re proud to be a leading independent mortgage and Equity Release specialists. We’re also whole of market meaning we can source deals from all lenders.
We specialise in dealing with high value and high net worth cases, offering a discreet and tailored service for those over 55 looking to release cash from their property.
Find out how much equity you could release from your high value home and look at your broader financial planning.
Bower has been a proud member of the Equity Release Council since its launch. This membership means all the equity release advice and plans we suggest will always meet the highest standards of safeguards and guarantees
We are a truly independent company so we are not tied to any lenders. Which gives us the flexibility and freedom to search the whole of the market for you and our high net worth clients. Since we began, our professional services have been recommended by the most prestigious financial and legal companies in the UK. We like to make everything clear and simple.
At Bower Private Clients, our clients typically release over £250,000 of equity from their property. However, if you’re not looking to release this much, we offer an alternative equity release service at Bower Home Finance for those looking to release equity from their property but aren’t looking to release larger sums of money. Speak to an adviser today to learn more about your options.
If so, you may need a Lump Sum Lifetime Mortgage. This option lets you release a tax-free lump sum in cash from your property without having to make regular monthly payments. All the money you owe, including interest, is repaid when your home is finally sold.
Then you might need an Interest-only Lifetime Mortgage, here you only pay the interest from the tax-free money you’ve released every month, so the basic amount you owe doesn’t get any bigger (just like an interest payment on an interest only mortgage). There is also an option to make partial, or even no interest payments.
You may need a Drawdown Lifetime Mortgage, this lets you withdraw an initial tax-free lump sum, then make additional withdrawals as and when you need it. These plans are cost-effective as you are only charged interest on the money you release.
Inheritance protection – you can ring fence a portion of your property’s future value to guarantee an inheritance to your loved ones.
Downsizing protection – allows you to move to a smaller home five years after taking out a lifetime mortgage without incurring an early repayment charge.
If you already have an equity release plan (even if it wasn’t taken out with us), it may not suit your current circumstances or you may wish to review the interest rate you are paying. So it’s a good idea to review things, and we’ll do this for free. Which means we may be able to find you a much better deal and save you money. We’ll also find out if you qualify for a top-up to your funds. Additional fees and early repayment charges may apply. We’ll take these charges into consideration to work out if switching is the right decision for you and your needs.
If so, you might need a Home Reversion Plan, this option gives you a tax-free lump sum for selling part or all of your home. You can carry on living there rent-free until you – or the last homeowner – passes away or moves into long-term care. However, your home (or part of it) will no longer belong to you and you’ll receive an amount for your property that’s lower than its market value.
To see how much tax- free cash we can help you release, simply enter your details into our Equity Release Calculator.
The eligibility requirements for high value or our premium equity release offering the following minimum criteria apply:
Typically property valued at £1,000,000 and above
Typically for releases of £200,000 and above.
Age of youngest homeowner must be 55+
There is no ‘one size fits all’ when it comes to any financial product. What works for one person could be the opposite to another. At Bower Private Clients, we ensure you are fully informed at every stage so you know that the decisions you make will be the right ones for your individual circumstances. We always encourage our clients to involve their family, friends or financial experts in any conversations we have. That way everyone is clear about what is needed, and what the next steps are. Just so you know, we will advise not to proceed with any plans if we believe that is the best option for you.
The service provided by Bowers was excellant in particular our thanks go to Mr Stephen Wilkinson ...
Barry was very efficient and found us a mortgage very quickly as first-time buyers. I would ...
Very professional and the process was very quick.
Good service and mostly kept up to date with all that was happening. There were a couple of ...
excellent service especially from your rep, Ms.Hirst
Andrew Card provided a professional service with kindness and integrity on behalf of Bower . .
Straight forward from beginning to end, great service.
Good information without pressure
The service was good helpful and informative. However wrong information was given Over the cost ...
Bower were efficient, not pushy & patient when I needed more time to decide on which option I ...
From the first contact phone call right through to completion call the service has been excellent, ...
The service I received was first class excellent, I cannot find a fault with anything, the ...
Good communication, friendly and knowledgeable staff
This was a first class service. We found Patrick McGarry an excellent advisor who gave us the ...
The hole procedure from start to finish was excellent all my conversations with John Milner was ...
Very professional
Ian Bigwood was very helpful and made the process easy to understand and always available with ...
Andrew Card at Bower provided excellent advice and a very responsive service. Would strongly ...
Our high net worth and high property value clients take out equity from their properties for a number of reasons, with some of the most popular reasons being:
Whether purchasing your dream home or investing in luxury property, our team is here to navigate you through the complexities of high-value mortgages, ensuring a smooth and successful acquisition.
Absolutely. With all Equity Release Council approved plans, there is a ‘no negative equity guarantee’. This means you and your family will never owe more than the value of your home. Some homeowners feel that taking out a roll-up Lifetime Mortgage means the size of the loan will increase as the interest on the initial loan accumulates over time. Several providers address these concerns by offering customers the opportunity to either pay some or all of the monthly interest on the loan and/or make ad-hoc lump sum capital repayments.
So the homeowner can pay all or part of the interest for a fixed period (for example, one year, five years or even up to the lifetime of the loan). Then from the end of the interest payment period, the interest on the loan rolls up at the rate agreed at the start of the contract. If the homeowner decides they no longer want to pay the interest during the period agreed, the loan reverts to a roll-up Lifetime Mortgage and no more monthly interest payments are required. Alternatively, the homeowner can pay a percentage (typically 10%) of the original amount borrowed each year without penalty. All this means you always stay in control. Of course, Bower will be with you every step of the way too.
Some popular uses of equity release include:
Lump Sum Lifetime Mortgage: Here you can release a lump sum in cash from your property without making regular monthly payments (although some plans let you do this). This lump sum, plus accrued interest, is repaid when your property is sold. This normally happens when you pass on, move into long-term care or permanently leave the property.
Drawdown Lifetime Mortgage: Instead of receiving your cash as a lump sum you can release it as and when you need it. These plans are cost-effective as you are only charged interest on the money you release.
Interest-payment Lifetime Mortgages: Interest-payment lifetime mortgages work like a lifetime mortgage, with the added flexibility that you can make one-off or regular payments of up to 10% off the capital owing (not the interest). With some plans you can pay a percentage of the interest and have the remainder rolled up, or only pay the interest for a chosen term. Please note, you need a monthly income to meet the interest payments on this type of plan, and eligibility is subject to credit status for interest-only mortgages.
Equity release is a safe option for releasing the wealth built up in your property to provide a source of income, or cash lump sum to spend as you wish.
Naturally, there are implications to this which is why it’s important to fully understand all the advantages and disadvantages of these Lifetime Mortgage plans.
Advantages of Lifetime Mortgages
Disadvantages of Lifetime Mortgages
At Bower, 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 Private Clients provides independent, impartial whole of market advice with an award winning customer service experience. We work alongside our clients using a highly collaborative approach. We provide you with an initial consultation at our expense and we work with you on a short-term or an on-going basis, according to your needs. Only if you choose to proceed and your plan completes would a maximum advice and an administration fee of 0.9% of the loan amount be payable with a minimum fee of £1,495.
If you are considering equity release, we strongly recommend that you 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 0808 175 1430, email [email protected], use our contact form or write to Bower Private Clients, Ongar Business Centre, The Gables, Ongar, CM5 0GA.
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.
Bower Private Clients is a trading style of Bower Retirement Limited and is Authorised and Regulated by the Financial Conduct Authority. Financial Services Register Number: 451607.
Registered in England and Wales No: 5788110. Registered office: Bower Private Clients, Ongar Business Centre, The Gables, Fyfield Road, Ongar, CM5 0GA.
0808 281 2658
