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Equity Release
Advice Harrogate

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Equity Release
Advice Harrogate

With numerous equity release products or alternatives available, our experts will help you find the right solution for you.

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How does equity release in Harrogate work?

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 home’s value, as a tax-free lump sum, or in a series of smaller payments that can be taken out over a specified duration.

Harrogatemoneyman specialises 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.

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Lifetime Mortgages in Harrogate

You will find that there are two main types of equity release in Harrogate – the lifetime mortgage, which will be available to homeowners aged 55+, and the home reversion plan. (which will involve selling all or part of your home).

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.

Free Lifetime Mortgages in Harrogate

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.

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.

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Things to Consider with Equity Release

The Process of Equity Release in Harrogate

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If you believe that taking out an equity release plan could be the best step for you, then you must be fully aware of all the options, alternatives, advantages and disadvantages involved with such a topic.

By booking 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.

What are some things to remember with equity release?

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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 throughout 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.

Using a mortgage broker in Harrogate for equity release?

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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 can trust and share your information with. We truly do believe that we can 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, before applying 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 manage your entire equity release process up until it is completed. 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.

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Our Simple Mortgage Process

Free 30 Minute Chat About Your Future

Step 1

When you schedule a free initial mortgage appointment with our laterlife mortgage advisor in Harrogate, we will engage in a thorough conversation regarding your objectives and strategies concerning inheritance.

Alternatives to Equity Release

Step 2

While equity release and lifetime mortgages remain viable options, we consider them as last-resort solutions. Our belief is that there might exist a more suitable alternative tailored to your specific circumstances.

Discuss With Family / Trusted Parties

Step 3

Knowing the significance of later life mortgages, we strongly encourage you to involve your family members or other trusted individuals in our discussions.

Tailored Lifetime Mortgage Recommendation

Step 4

In the event that equity release is determined to be either suitable or unsuitable for your needs, our knowledgeable later life mortgage advisors in Harrogate will direct you to the appropriate services that can further assist you in devising your plans.

I have Equity to Release, can you help?

Free Equity Release Review

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Your family is always welcomed and encouraged to be included in your later life mortgage advice process, and we will always be part of the advice process and we will always adapt to our customer's various needs and circumstances if we can 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.

Our Service

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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 later-life mortgage advice in Harrogate to all of our valued older customers.

Overcoming Hurdles Together

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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.

From Start to Finish

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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.

Malcolm and Amy Davidson - Mortgage Advice in Harrogate

Finding you the Right Equity Release Deal in Harrogate

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Popular Options For Equity Release in Harrogate

Equity Release to Pay Off a Mortgage

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If you find yourself not nearing the conclusion of your mortgage term, there’s still the option to explore a lifetime mortgage. This allows you to extract a portion of your equity to settle the remaining balance of your existing mortgage. It’s worth noting that this may impact your affordability, given the substantial financial commitment involved. Consequently, it could impose limitations on the amount you are eligible to borrow.

Equity Release to Pay Off Unsecured Debts

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Let’s begin by underscoring the distinction between unsecured and secured debt. Secured debts, such as mortgages, are tied to assets like your home. On the other hand, unsecured debts, like personal loans, lack collateral tied to specific assets. In situations where individuals need to cover the expenses of unsecured debts, they often opt for Equity Release as a means to address these financial obligations.

Equity Release in Harrogate for Home Improvements, Modifications or Alterations

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If you’re considering home improvements, a lifetime mortgage might be the optimal solution. Alternatively, you could explore a standard remortgage to release equity, contingent upon your specific situation. At Harrogatemoneyman, our committed mortgage advisor in Harrogate can assess your individual and financial circumstances to determine the most suitable option for you.

Here are some prevalent home improvements that individuals often pursue with the assistance of Equity Release:

1. Home offices
2. Conservatories
3. Garden enhancements
4. Extensions
5. Interior improvements
6. Garage upgrades

Equity Release in Harrogate for Additional Purchases

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If directing your equity towards home improvements isn’t your preference, you have the flexibility to allocate it for more personal endeavours. Some may choose to use the funds for a holiday, a new car, or even a wedding.

We strongly recommend consulting with one of our experienced mortgage advisors in Harrogate, equipped with extensive knowledge about Equity Release and Lifetime Mortgages, to guide you through the best options suited to your individual needs.

Free Mortgage Guides & Harrogatemoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.

UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.

We are entered on the Financial Services Register No. 627742 at

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