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Dependable Finance
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Equity Release

Introduction to Equity Release

If you're over the age of 55, equity release offers you a way to use the value of your home to raise money.

Why do people consider Equity Release?

  1. To provide an additional income
  2. To provide lifetime gifts to relatives
  3. For home improvements
  4. For holiday home purchase
  5. To fund long term care

You probably have other ideas - there is no restriction on how you use the funds.

However, let us first look at some options, as equity release can be an expensive way to raise money when taking into consideration payment of arrangement fees or interest.

Your Savings & Investments

If you have savings or investments you may wish to consider this alternative.

Benefits entitlement

These could include disability living allowance, council tax assistance, or pensions or savings credit. Equity release could prevent you from receiving such benefits so it's worth speaking to your local authorities to consider these areas first. They may be able to offer you grants or assistance with essential home improvements and alterations that you would otherwise pay for yourself.

A smaller home

If your family have grown up and they are off on their own financial journey now, your current home may too big for your needs and you could consider something smaller and more economical to run. In this case, you could consider purchasing a smaller property, leaving you with a lump sum on completion.

Equity release can be a complex area with the potential impact on access to benefits needing to be considered. For these reasons, we operate a referral arrangement to Key Retirement Solutions to offer clients an equity release solution.

This is a Lifetime Mortgage or Home Reversion Scheme. To understand the features and risks, ask for a personalised illustration.

Lifetime mortgage can quickly erode the remaining equity and as a result there may be no value left to pass on.

Introduction to mortgages
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Contact Dependable Finance
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Company address:
Dependable Finance Ltd, 358 Loughborough Road, West Bridgford, Nottingham, NG2 7FD
T: 0115 859 0012 M: 07815 161 935
F: 0115 859 0012

Email: advice@dependablefinance.co.uk

Registration address:
Unit 24 Wilford Business Park, Ruddington Lane, Nottingham, Nottingham NG11 7EP
Registration number: 5391379

Dependable Finance Limited is an Appointed Representative of Openwork Limited, which is authorised and regulated by the Financial Conduct Authority.

Openwork is entered on the Financial Services Register (www.fsa.gov.uk/register/firmSearchForm.do) under reference 408285

The information on this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.

Telephone: 0115 859 0012 M: 07815 161 935 | advice@dependablefinance.co.uk

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