With Bower, award-winning nationwide Equity Release Specialists
With people living longer and pensions not always sufficient to maintain a lifestyle of your choosing, or to meet your financial needs in later life, equity release can be a financial solution for an increasing number of over 55’s. With the equity release market having seen year-on-year growth since 2012, according to recent research from Canada Life*, the majority of financial advisers expect the equity release market to exceed £5 billion in 2020.
*Mortgage Finance Gazette, 23rd December 2019.
Some popular reasons people use equity release are:
- helping to pay off an existing mortgage
- gifting money to family; perhaps for house purchases, weddings or further education
- paying off debt and/or providing a financial income, if pensions are insufficient
- setting up a business and becoming self-employed
- fulfilling life-long dreams such as travelling the world and ticking off “bucket list” items and purchases
- retiring earlier, to spend more time enjoying life with loved ones
- to fund private healthcare, such as paying for home carers and/or adapting your home
Change your life with equity release
If you are over 55, own your own home and would like extra funds in a one-off lump sum or alternatively, a lump sum followed by smaller amounts, then it could be an option for you. With 2020 seeing new equity release plans with lower rates, now is a good time to investigate the most suitable product for your personal circumstances and to make plans for the next decade.
- You can use these tax-free sums for whatever you wish, without having to sell your house or move home.
- You can also choose to ensure that your children can still receive an inheritance, by utilising an “Inheritance Protection Guarantee”, where appropriate.
Things to consider:
Deciding whether to release equity from your home is an important decision and not to be taken without professional advice. This is because:
- Equity release could affect potential inheritance.
- Equity release could affect your entitlement to means-tested benefits.
A lifetime mortgage is the main type of equity release plan, however, Bower can advise on all equity release products from the whole of the market, ensuring you are aware of the advantages and disadvantages of both, before making a decision. Equity Release may not be suitable for everyone but Bower have over a decade of experience as award-winning equity release specialists and are truly dedicated to helping you get the best possible outcome.
The Bower difference
As “whole of the market” independent advisers we are not tied to using one lender so, unlike some other companies, we will find the most suitable plan for you, by comparing the entire market to find the most suitable product. Even if you have been turned down by other lenders, we still may be able to help you because we go that extra mile, leaving no stone unturned, and will do our very best to help.
With our award-winning history for customer service, and with our testimonials that speak for themselves, you will find your satisfaction is at the heart of everything we do.
Our Customer Services team are ready to answer any queries you may have and you can call to book your free no-obligation initial meeting in your own home (and we recommend that your family attend too). Our professional Advisers are based nationwide and will explore your options in the comfort of your own home. They listen carefully to your individual circumstances, to your financial needs now and in the future, and take into account all the information about your property.
They then match you to a plan that has considered your personal circumstances and return to you with their recommendations that will meet your needs. After acceptance of the recommendation, Bower’s professional team of Customer Assistants will ensure that the process goes through smoothly and is communicated to you every step of the way.
As members of the Equity Release Council, Bower abide by best practice and are fully authorised and regulated by the Financial Conduct Authority (FCA). If you have questions or you would like to discuss your needs, you can call our UK-based team on Freephone 0800 411 8668.
You can also visit http://www.bowerretirement.co.uk/ where you can find out how much equity you could release from your home, by using our quick and easy free calculator to provide an indication of the amount.