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Equity Release Advice Newcastle

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7 days a week, 8am - 10pm

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Equity Release Advice Newcastle

With numerous equity release products or alternatives available, our experts will help you find the right solution for you.

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How does equity release in Newcastle work?

The longer that you have owned property, the more equity you will have built up in it. There is a possibility that you will be able to release some of this equity and turn it into a lump sum of cash.

You will be able to spend this money on what you want. Some may want to use the money to pay off unsecured debt, fund home improvements, even a holiday or purchase a new car. You should speak to an Equity Release specialist before taking out money from your home. This is a specialist subject and it should be done right; speak to an equity release advisors in Newcastle today.

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Equity Release Advice Newcastle

Lifetime Mortgages in Newcastle

In some cases, particularly with older applicants, equity release comes in the form of a Lifetime Mortgage. You may be able to take out a Lifetime Mortgage in the future, but to qualify, you will have to be at least 55 years old.

When you take out this type of mortgage, you will begin receiving repayments. We see people paying off their Lifetime Mortgage whilst living inside the property, in long-term care, or let the loan amount build up with interest. You can choose the route that you want to take.

Depending on your circumstances, you may plan to use the equity in a completely different way to someone else. It’s entirely up to you how you use the money. For additional mortgage advice in Newcastle regarding equity release in Newcastle, it is worth seeking the advice of someone who is a specialist in this mortgage area, like ourselves.

What are some things to remember with equity release?

Before applying for a Lifetime Mortgage, make sure that you are fully aware of how they work. You will need to pass certain requirements before you will be able to advance your application. The main factors are age and property value.

We would strongly recommend getting in touch with our expert team of Equity Advisors in Newcastle. They will be able to see whether you qualify or not for Equity Release and whether it is possible in your personal and financial situation.

To understand the features and risks, ask for a personalised illustration. Equity Release may come in the form of a lifetime mortgage or home reversion plan.

A lifetime mortgage may impact the value of your estate and it could affect your entitlement to current and future means tested benefits. The loan plus accrued interest will repayable upon death or moving into long term care.

A home reversion plan involves selling all or part of your home to a plan provider in exchange for a tax-free lump sum.

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Equity Release FAQs in Newcastle

I have an Equity Release enquiry, can you help?

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We can certainly help you with this. Here at Newcastlemoneyman, we have Equity Release mortgage advisors in Newcastle, who may be able to help. They have expertise in this topic and are available to answer any of your questions.

Can you help me Remortgage to Release Equity?

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Yes, we are able to explore your Equity Release options with you and see how much you may be able to take out of your property. You may need to take out a new mortgage whilst releasing equity, and therefore we will try our best to find you a deal that suits your personal and financial situation.

Why should I use Newcastlemoneyman for my Remortgage?

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We have a large range of lenders on our panel, and can search through 1000’s of deals in order to find one tailored for you. If we encounter any hurdles along the way, we love a good challenge, and we will try and overcome them together.

We have over 20 years of experience in the mortgage sector and we can help you with other mortgage options if you are interested in an alternate route.

Our team are dedicated and responsive; we want you to receive the best service possible during your dealings with us. We can’t wait to hear from you!

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Our Simple Mortgage Process

Free 30 Minute Chat About Your Future

Step 1

When you book a free initial appointment with our later life mortgage advisors in Newcastle, we will have a discussion with you about your inheritance goals and plans.

Alternatives to Equity Release

Step 2

Although equity release and lifetime mortgages are options, we will only consider them as a last resort. We believe that there might be a better alternative to your situation.

Discuss With Family / Trusted Parties

Step 3

We understand that later life mortgages are important, which is why we encourage you to involve your family or any other trusted parties in our discussions.

Our advisors will ensure that you have all the necessary information and will take the time to review all your options and plans in detail, so that you are fully informed and can make an informed decision.

Tailored Lifetime Mortgage Recommendation

Step 4

If equity release is not the right choice for you, our later life mortgage advisors in Newcastle will refer you to the appropriate services to help you with your plans.

However, if equity release is the right choice, we will provide you with a tailored recommendation for a lifetime mortgage that takes into account your inheritance plans.

I have Equity to Release, can you help?

Free Mortgage Review

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If you’re considering a lifetime mortgage in Newcastle, our dedicated later life mortgage advisors are here to help. Book an appointment with us for free, and we’ll take you through all the available options. We’ll help you understand the steps you need to take, the effects of taking out a lifetime mortgage on state benefits, tax, and the equity left in your home over time.

We encourage you to involve family members or trusted individuals in the process, and our initial advice comes with no obligation or pressure to proceed. Once we’ve identified the appropriate plan, your advisor will provide you with an illustration and a written recommendation.

Finding You The Perfect Deal

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We encourage you to involve family members or trusted individuals in the process, and our initial advice comes with no obligation or pressure to proceed. Once we’ve identified the appropriate plan, your advisor will provide you with an illustration and a written recommendation.

We’ll then review our recommendation with you before submitting an application to the mortgage lender. Our experienced case managers will manage the entire process from start to finish, keeping you informed every step of the way.

Our Service

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As an open and honest mortgage broker in Newcastle, we’ve been helping customers achieve their mortgage goals for over 20 years. Our advisors are passionate about presenting whole-of-market lifetime mortgage advice for our valued, older customers.

7 Days a Week

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We’re committed to providing you with continuous guidance and support throughout the entire process, and we strive to reduce as much stress from you as possible. Our fantastic customer reviews are a testament to our belief in building trust with our clients and ensuring their satisfaction.

Malcolm and Amy Davidson - Mortgage Advice in Newcastle

Finding you the Right Equity Release Deal in Newcastle

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Popular Options For Equity Release in Newcastle

Equity Release to Pay Off a Mortgage

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In some cases, even if you have to pay off your full mortgage amount. You may be able to take out a Lifetime Mortgage to help you to pay these off. On the other hand, Lifetime Mortgages can impact your affordability. This is because you already have a substantial outgoing (your current mortgage), therefore the lender may be warier of how much they are lending to you.

Equity Release to Pay Off Unsecured Debts

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Secured debts are debts that are valued against an asset (such as your mortgage valued against your house). Unsecured debt examples include personal loans, credit cards, etc., and this debt is not secured against any particular asset.

Thanks to Equity Release, it has been made possible to pay off this unsecured debt much easier.

Equity Release in Newcastle for Home Improvements, Modifications or Alterations

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If your home could do with some improvements or a conversion such as a new loft, you may be able to release equity inside of your home to fund these improvements. This is made possible by Remortgaging to Release Equity. After remortgaging, you’ll likely be put on a Repayment Mortgage, whereas a regular Equity Release will put you on a Lifetime Mortgage.

Here at Newcastlemoneyman, your dedicated mortgage broker in Newcastle can review your personal and financial circumstances to look at which option is the most appropriate one for you.

Popular home improvements include a new kitchen, garden extension, home offices as more people are choosing to work from home, conversions, and a new or additional garage.

Equity Release in Newcastle for Additional Purchases

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Some people may want to release equity from their home for something such as a new vehicle, a holiday, to fund a family member’s wedding, just to name a few. It is your money, therefore you can spend it how you like!

If you have any questions regarding Equity Release and how it works, feel free to get in touch. Our amazing team would be more than happy to help you!

Free Mortgage Guides & Newcastlemoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.

UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.

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