EQUITY RELEASE
Equity release schemes enable people to unlock money/equity from their homes to fund their future lifestyles. However HBFS believe that these schemes a very restrictive and the amount of money you can get is small. With traditional equity release scheme you can take the money as a lump sum or as a regular income. However Equity release plans have very strict criteria and for many people they either do not qualify or find that other alternatives are better. The conditions you need to meet are -
- You must be over 55 but ideally over 60 years of age.
- The property is preferably freehold not leasehold.
- You must have no or only a small mortgage.
- The property should be of brick and mortar construction.
There are other conditions also but as you can see many people will not be accepted for a traditional equity release plan. The HBFS offer an alternative to these plans which allow more people to release equity. Our product involves buying the house from you at between 70 – 80% of the properties value and renting it back to you on a fixed term tenancy. When compared to the 15 – 25% you would traditionally get from providers of equity release schemes its no wonder that our Sell and Rent Back scheme prove very popular. We will look at every case no matter what type of property, what age you are, or how much your mortgage is. Contact us here to discuss.
Before accepting an offer from us or entering into a traditional equity release scheme please make sure you are fully aware of all the implications. Read below for further information.
Equity release schemes can be quite costly before taking one please consider -
Moving to a smaller home/downsizing.
If you are considering this please see our quick sale service to minimize the hassle of selling your home and get an instant quote on what we value your home at.
How it may affect any benefits you receive.
Getting a regular income or a cash lump sum from an equity release scheme can result in our benefits being stopped.
Maintanance of your property.
Many people release cash for home improvements or maintenance. However if you use equity release you cannot be sure that it will be enough to cover all property maintenance for the rest of your time in the property. With HBFS’s sell and rent back scheme you can release equity but never have to spend any of it on future maintenance of the property. We will maintain your property at our expense for as long as you want to live there.
If you have considered these points and think you are eligible
to equity release then there are two different plans available to
you . These are -
Home Reversion Plans
And
Lifetime Mortgages.
Call Now On
0800 043 4133
