ROCHESTER ME2 3LR
Four detached 5-bedroom homes set out over three floors.
Show home viewings by appointment!
Award winning development State of the art lighting
Luxurious living with cinema rooms, wine stores, and basement gyms
Roof terraces with panoramic views
hillstonehomes. co. uk sales @ hillstonehomes. co. uk
Equity Release in the current market
Local adviser, Sarah Ferrell, is still speaking with people who are retired, or approaching retirement, and who need to raise finance for a variety of reasons.
Equity Release can provide a safe and welcome solution.
Why might I consider Equity Release?
Equity Release may be a suitable option to repay a mortgage, fund home improvements, gift to family or to supplement income. The current cost of living remains a concern for many, and utilising one’ s property to release funds is an option, particularly for people on fixed incomes.
Back to basics
With some plans, no interest is paid and the interest“ rolls up” over the lifetime of the plan. Many plans allow interest to be paid on a regular or ad hoc basis which enables clients to raise the capital they need without the longer-term costs they have potentially been worried about.
It is usual for a plan to be repaid from the sale proceeds of the property when the( last) client dies.
Do current interest rates make Equity Release less attractive?
Regardless of the economy, people may have a need for finance. Many schemes allow for an initial advance( typically from £ 10,000) plus a reserve facility that can be drawn as and when needed. The advantage of this type of scheme is that interest is charged at the prevailing rate when the funds are drawn. Depending on the reason and the urgency for the funds, it is therefore possible to monitor interest rates and opt to draw down funds when rates are at a level you feel comfortable with.
What is your advice to people considering Equity Release?
I feel it is important to carefully think about why you are looking at Equity Release and about the amount of money needed. I am a great advocate of Equity Release as I have seen people’ s lives change when financial pressures are relieved, however as it is a transaction that will“ last a lifetime”, careful consideration and good advice is needed before embarking on an application.
I have over 30 years’ experience in finance and 11 years specialising in Equity Release.
I am happy to visit clients at home and will offer flexible times to suit.
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Call Sarah on 01622 631372 or 07789 007447 or e-mail her at sarah @ ferrellfinancial. co. uk You may find answers to some of your questions at www. ferrellfinancial. co. uk
Ferrell Financial Limited is an Appointed Representative of The Right Mortgage Ltd, which is authorised and regulated by the Financial Conduct Authority. This is a lifetime mortgage. To understand the features and risks, please ask for a personalised illustration. Check that this mortgage will meet your needs if you want to move or sell your home or you want your family to inherit it. If you are in any doubt, seek independent advice. There may be a fee for mortgage advice. The precise amount will depend upon your circumstances. Registration number: 678768
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