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Equity Release in Harrogate

Equity Release & Lifetime Mortgage Advice in Harrogate

How does Equity Release in Harrogate work?

You might be thinking of having some additional funds stored in the future. One option you may have is to release some money from the equity in your home while you live there.


If you are looking to release some equity, we do recommend you get in touch with an expert Mortgage Advisor in Harrogate.

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Why People Look to Release Equity in Harrogate

There are many reasons why people go for this option, below are some of the popular options:

  • To pay off the remaining balance of your mortgage.
  • Pay off any unsecured debts that have accumulated over time.
  • To fund home improvements (home office, extension, new kitchen).
  • Holidays.
  • Gifting a deposit to a family member.


Helping You Find the Value in Your Property!

A Lifetime Mortgage is a kind of Equity Release in Harrogate that provides support to those in later life that are finding it difficult to get a regular repayment mortgage.


When it comes to Lifetime Mortgages, applicants will own their properties outright. Despite this, there is a chance to release equity if you have an existing mortgage. This all depends on your affordability and age.


As long as you in your primary residence, many Lifetime Mortgage homeowners decide to ring-fence a portion of the equity for an inheritance to their beneficiaries.


You may be able to make monthly payments back. A popular option for homeowners on this mortgage is to let the interest build up. The loan becomes repayable when you pass away or moving into long term as you are unfit to live on your own without assistance.

The Help of a Mortgage Broker in Harrogate

Here at Harrogatemoneyman, we have extensive knowledge in this topic. The requirements include being at least 55 to qualify and your age, as well as your property’s value, can affect the amount you are able to take from your property.


If you are looking for more information about Equity Release in Harrogate, it can be beneficial to seek Mortgage Advice in Harrogate with the help of a specialist advisor. Get in touch with us and we will be able to book you in with an expert Equity Release Advisor in Harrogate. From this, they will be able to provide the support you need.


To understand the features and risks, ask for a personalised illustration. Our typical advice fee is up to £1,495 only payable on completion. A Lifetime Mortgage may impact the value of your estate and it could affect your entitlement to current and future means tested benefits. The loan plus accrued interest will repayable upon death or moving into long term care.

We search 1000s of mortgage deals across a large number of lenders, including:

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Popular Scenarios for Equity Release in Harrogate

Through our experience in the mortgage industry, we have encountered many customers who are looking to obtain a Lifetime Mortgage for Equity Release in Harrogate. Below are just some of the popular reasons:

-Fund home improvement.

-Pay off unsecured debts.

-Additional purchases.

Equity Release in Harrogate to Pay Off a Mortgage

It can still be possible to take out a lifetime mortgage and utilise the equity to pay off the remaining balance of a mortgage, regardless of if you have finished your mortgage term. Keep in mind that your affordability may be affected because you are still are paying for a large financial commitment which can limit the amount the lender may allow you to borrow.


Equity Release to Pay Off Unsecured Debts

First of all, we need to explain the differences between secured and unsecured debt. Your mortgage repayments is a secured debt as it’s securely against an asset (your home in this case), whereas, unsecured debt is payments like personal loans as it’s not secured against any asset. People usually decide to go for Equity Release to cover the costs of any unsecured debts they’ve built up over time.


Equity Release for Home Improvements, Modifications or Alterations

Another reason why many people decide to go with Equity Release in Harrogate in order to fund Home Improvements, Modifications or Alterations. This option is similar to Remortgaging for home improvements, however, a factor that does make it different is one involving a Repayment Mortgage and the other being a Lifetime Mortage. As mentioned, this type of mortgage does mean you can choose to let the interest build up.

Equity Release in Harrogate for Additional Purchases

In some cases, homeowners choose to take out equity from their property to fund more things that are more personal to you. These include:

-Funding for a holiday.

-Wedding for yourself or relatives.

-Gifted Deposit to provide financial support to someone getting onto the property ladder.


These are just a few of the most common reasons, it’s your money and you have the freedom to spend it on whatever you want!


Please don’t hesitate to get in contact with a Mortgage Advisor in Harrogate if you are looking for more information about Equity Release in Harrogate.

I have an Equity Release enquiry, can you help?

Here at Harrogatemoneyman, we have an expert in our team who may be able to help. They are an expert on Equity Release and are available to answer any questions you may have.


Can you help me Remortgage to Release Equity?

Yes, we certainly can help you with this! As well as this, our team can look at any regular Remortgage enquiries you have.


Why Should I Use Harrogatemoneyman for my Remortgage?

Utilising over 20 years of experience and knowledge in the mortgage industry, we have helped thousands of customers fulfil their mortgage dreams and have always been diligent when overcoming any hurdles that may stall a customer’s mortgage journey.


Being a reputable Mortgage Broker in Harrogate means we have access to a large panel of lenders offering a range of products. From this, our hard-working team can search through 1000’s of mortgage deals with the goal of finding you the perfect match for you and your circumstance.


We will provide a supporting hand from the beginning of your mortgage journey to the very end answering any questions and helping you throughout. Our service goes beyond the mortgage, we can help you with additional services when needed, like pointing you in the right direction for a conveyancing solicitor.



At Harrogatemoneyman, we are proud to offer a service that is tailored, professional and friendly. Look at our brilliant customer reviews to see how we have helped people achieve their mortgage goals.

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