What is Equity Release?
When we talk about equity, we refer to the value in your home, minus any loans secured against it. Equity Release allows you to unlock that value in your home, with a range of products that allow older homeowners (above the age of 55) to access this equity without having to move out of their property.
Two types of products let you release equity from your home – a Lifetime Mortgage and a Home Reversion Plan. 121 Financial Advice provides independent financial advice on all of these products. Using our friendly, no-jargon approach, we can help you unlock the value stored in your bricks and mortar.
How does equity release work?
There are two types of equity release. Lifetime mortgages and Home Reversion plans, of which the Financial Conduct Authority regulates both. All of our financial advisors are regulated, independent financial experts who can help you make the best choice for your situation.
No matter how much equity you release from your home, you can use the equity for almost any purpose. You could use it to improve your home, make retirement more comfortable, take more holidays, or help your family get onto the property ladder.
While there’s many products on the market, we can help you decide exactly what you need with our expert financial advisors guiding you through every step of the process. Our experts have access to the widest range of products, providers, and options. We’ll help you find the absolute best fit for your circumstances, with absolute dedication to care and support through the process.
Different criteria apply to regular mortgages. If you don’t qualify for a residential mortgage, you may still be eligible for Equity Release. You can choose to either have the cash released as a drawdown to help with your regular income or as a cash lump-sum. We’ll help you decide what is more suitable for your situation.