After years of hard work, we all want to make the most of a long and enjoyable retirement. No doubt you have planned your finances carefully to allow for a certain level of income throughout your later life, but what if it doesn’t stretch far enough or over time you simply want more? An equity release mortgage will not suit everyone but it is ideally suited to certain circumstances.

Equity Release Mortgages

AEON can give you the opportunity to convert some of your home’s value into a tax free lump sum or a regular tax free income to spend as you wish without having to sell up and move house.

Releasing the money tied up in your home can transform your retirement by:

  • Enabling you to repay debts or outstanding mortgages
  • Paying for home improvements
  • Boosting your income
  • Paying for a well-earned holiday
  • Enabling you to help your family, perhaps with a deposit for a house, or university fees.

Equity release may involve a lifetime mortgage or a home reversion plan and it is not right for everyone because there are many factors to take into account. For example, releasing equity from your home could affect your entitlement to means tested state benefits and it will also impact on the value of the estate you leave behind.

It could be that there are other ways to raise money and other options may be more suitable for you, so getting the right advice is vital. AEON’s qualified and experienced advisers can help you assess your current needs and circumstances in order to establish whether or not equity release is a suitable and viable option for you. If it is, they will guide you through the many options available to you in order to find the most appropriate plan for your individual circumstances.

Equity Release Council

All providers of equity release, such as lifetime mortgages and home reversion plans, are regulated by the Financial Services Authority, and the majority are also members of the Equity Release Council (ERC). The products offered by members of ERC include several important guarantees, designed to offer peace of mind whichever plan you choose:

  • You will never owe more than your property is worth
  • You can stay in your home for as long as you wish
  •  You can move home without financial penalties, subject to meeting certain criteria.

If you want to find out more about equity release and whether it could help you, a friend or relative to make the most of retirement, please contact AEON to arrange a free no obligation meeting with one of our equity release specialists.