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If you are aged 55 and over, own a home of your own, whether you have a mortgage or not, and that home is worth at least £70,000, you could be eligible to take out an equity release plan.
In taking out an equity release plan, a homeowner will have the option of releasing a portion of your homes value, as a tax-free lump sum, or in a series of smaller payments that can be taken out over a specified duration.
Harrogatemoneyman are specialists in providing customers with a complete service with expert mortgage advice in Harrogate from qualified and professional later life mortgage advisors in Harrogate.
This top level service is backed up by having an efficient team of case managers, who are there to make sure that your equity release plan is put in place as quickly and efficiently as possible, keeping you informed every step of the way.
Your trusted and dedicated later life mortgage advisor in Harrogate will review your case in-depth, looking at your present and past circumstances, as well as your plans and goals for the future. This allows them to decipher whether or not equity release in Harrogate is right for you, or if perhaps an alternative would be more appropriate.
If it is indeed the best step for you to take, it would also allow for your later life mortgage advisor in Harrogate to take a look at the whole of the market and see which product would be best for you now and in the future.
You will find that there are two main types of equity release in Harrogate – the lifetime mortgage, which will be available to homeowners from aged 55+, and the home reversion plan. (which will involve selling all or part of your home).
Both types of equity release plans, lifetime mortgages and home reversion plans, are regulated by the Financial Conduct Authority.
No matter if you are looking to raise the funds to help out your children or grandchildren, repay any existing mortgages you have, as well as any other debts, carry out necessary home alterations, or to boost your retirement income as a means to cope with the increased costs of living, our fast & friendly later life mortgage advisors are here to help.
A lifetime mortgage in Harrogate will allow you to release money from the value of your home, free from tax, whilst letting you maintain 100% ownership of the home and the ability to stay there for as long as you live.
Typically speaking, a lifetime mortgage in Harrogate will be repaid from the sale of your home after you have died or have moved permanently into care (with two borrowers this will only apply to the last survivor).
In more recent times, a lifetime mortgage in Harrogate will generally be much more flexible than they used to be, including options for homeowners to make voluntary payments, monthly interest payments and even port the mortgage to another property.
For any more mortgage advice in Harrogate on the topic of equity release in Harrogate, it is worth getting in touch and utilising the advice of a specialist in the field.
Contact a mortgage broker in Harrogate and we will look to get you booked in with one of our later life mortgage advisors to discuss the various options that you have available for releasing equity in Harrogate.
To understand the features and risks, ask for a personalised illustration. Equity Release may come in the form of a lifetime mortgage or home reversion plan.
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.
A home reversion plan involves selling all or part of your home to a plan provider in exchange for a tax-free lump sum.
If you believe that taking out an equity release plan could be the best step for you, then it is important that you are fully aware of all the options, alternatives, advantages and disadvantages involved with such a topic.
By booking in for a free mortgage appointment with one of our trusted later life mortgage advisors in Harrogate, a member of the team will be happy to look at your case with you. They will help you to understand the process and your options, as well as the effect taking a lifetime mortgage in Harrogate could have on state benefits, tax and the equity left in your home over time.
We always like to encourage our customers to involve their family members or any other trusted individuals they have, to support them through every step of their later life mortgage process, being present at every meeting that has taken place.
In addition to this particular side of our service, we are also more than happy to work alongside any financial advisors you are working with, as well as accountants or solicitors who are involved in any of your financial planning decisions.
If your mortgage is set up the right way, equity release in Harrogate should have zero effect on your tax position or any of your benefits. That being said, everyone has a different set of circumstances, and a later life mortgage advisor in Harrogate will need to have a more complete overview of your situation, in order to provide you with the most accurate advice.
The key to all of this is to find a later life mortgage advisor in Harrogate that you are able to trust and share your information with. We truly do believe that we are able to excel in this area as a company, something that can be seen in our genuine customer reviews.
Once your later life mortgage advisor in Harrogate has identified the most suitable plan for you, they will provide you with a mortgage illustration, as well as a written recommendation, explaining everything that you have told us, as well as why we recommend that plan in particular.
Your open & honest life mortgage advisor in Harrogate will then go through the recommendation they have made with you, prior to submitting an application to the mortgage lender you are going to be working with.
Here at Harrogatemoneyman, we have an incredible team of experienced case managers who, working alongside your later life advisor in Harrogate, will help you to manage your entire equity release process up until it completes. They will keep you informed at every stage of your journey, with dedicated points of contact if you ever need to have a discussion with us about something.
We provide all initial advice for free and with absolutely no obligation or pressure to go ahead. Only if you go ahead and your case completed, do we charge you an advice fee.
If you happen to take out a lifetime mortgage in Harrogate, any existing mortgages or loans that you have secured on your property will have to be repaid.
Any interest that has been accrued over the duration of your lifetime mortgage must be paid back, along with the amount that has been released, upon death or an instance where you have to move into long term care.
Taking out a lifetime mortgage in Harrogate will almost certainly reduce the amount of equity that is available within your property, meaning there will be less for you to leave as an inheritance or to use for the payment of care fees in later life, if this ever becomes something that you need.
As an experienced and dedicated mortgage broker in Harrogate, we have had the pleasure of helping countless customers in achieving their mortgage dreams for the last 20 years and still counting.
We always bring the same hard work and dedication to providing absolute top level, whole of market lifetime mortgage advice in Harrogate to all of our valued older customers.
As a team, we will always do everything within our power to rise above and overcome all mortgage hurdles that we are faced with, no matter how complex of a circumstance it may be; we always love to take on a good challenge! Our administrators and advisors will always work hard for you, no matter what, making sure your best interests are always at the heart of what we do.
Your family is always welcomed and encouraged to be included in your later life mortgage advice process, and we will always to be part of the advice process and we will always adapt to our customers various needs and circumstances, if we are able to do so.
Once you have taken part in your free equity release and lifetime mortgage advice appointment, your later life mortgage advisor will go and take a look for the perfect lifetime mortgage deal in Harrogate that matches up with your personal and financial position, both now and how this may change as time goes on.
We will be there by your side, throughout the entire lifetime mortgage process. Always accompanied by our dedicated guidance and support, we will work through your equity release journey together, looking to reduce as much stress from it for you as possible.
4.93 Rating29 Reviews
Chris was brilliant at guiding us through the whole process. As FTB, you think you understand the process but there is so, so much more too it and having someone who you can ask questions almost anytime of the day, was something we could not have...
As first time buyers this whole process initially seemed very daunting. We spoke with Matt over the phone and he talked us through the process, was really positive and has got us through the process. It has been stressful but Matt kept us updated...
Me and my husband were looking to get a mortgage, we are first time buyers, so were wanted a stress free process and getting the best deal for us. Harrogatemoneyman was amazing! Very professional, answered all our questions and kept us regularly...
Fantastic service from start to finish. Every stage of getting a mortgage for a first time buyer was carefully explained with complete transparency of costs and what to expect. 100% recommend.
Joe and Meghan have been very helpful and professional. They have explained everything clearly and responded extremely quickly to our correspondence. We would certainly use your service again and recommend both Joe and Meghan to others.
Amazing service & support! We are first time buyers and felt the process from start to getting our mortgage accepted was amazing & very smooth!! We were kept up to date regularly and felt comfortable to ask any questions. Special thank you...
Really impressed with the service from these guys, from start to finish the process has been so easy. Our situation was slightly different from normal but they still managed to get the mortgage sorted for us. They always kept us up to date with...
Leanne was so friendly and approachable. Extremely helpful.
Fantastic service from start to finish. Matt was always on hand to answer my questions and explained everything clearly, along every step of the way. Thank you!
Polite helpful reassuring conversation. Very helpful.
Excellent from start to finish. Booked appointments that suited us even late evening! Found us a great deal on our mortgage and wage protections. Thanks Malcolm for all your help!
First time buyer and the team at Harrogatemoneyman provided a 1st class service from start to finish. Excellent advice really quick service excellent product really cant fault them at all. I highly highly reccomend them just exceptional in everyway....
Very quick response from Hannah. Very helpful. Highly recommend
Great service, professional as well as friendly
Can I say what a great job they have done for us, answered every question when needed and kept me calm through the last few weeks! Great job done! Cannot thank them enough, Thank you Wayne, Jenna and Megan!!
Would just like to say what a fabulous job Wayne and his team have done for us over the past few weeks! Excellent service and great to be able to speak to someone whenever needed!!
Fab service from start to end. Got me a mortgage offer and it couldn’t have been any easier. Thanks so much!
Easy to deal with and solved most of the problems that came up quickly.
Excellent service from this company from beginning to end. Highly recommended. Kept in contact to give me updates by email and phone and my mortgage was agreed very quickly.
Extremely efficient, good direction, on boarded all my requirements and got the job done seamlessly. Thank you