Lifetime Mortgages and Equity Release Advice
Equity Release services are referred to a regulated specialist adviser. Your home may be repossessed if you do not keep up with repayments on your mortgage
Unlock Your Home’s Wealth: Specialist Equity Release Referral
Goodniss offers a dedicated referral service for Lifetime Mortgage solutions, designed to help you explore how you could unlock the wealth tied up in your home while retaining ownership.
Understanding the Potential of a Lifetime Mortgage:
A regulated financial adviser from our network, specialising in equity release, can discuss how a Lifetime Mortgage might provide financial flexibility for a variety of needs.
They can explain potential advantages such as:
Retaining Home Ownership: You continue to own your home, allowing you to live there for as long as you wish.
Tax-Free Funds: The funds released are typically tax-free.
Optional Repayments:
Many Lifetime Mortgages offer the option to make no monthly repayments.
The interest is rolled up and repaid from the sale of your home upon your passing or entering long-term care. To ensure a specific lump sum is left for funeral costs or family, consider supplementing your plan with Life Insurance or, specifically, Over 50's Life Insurance.
Your adviser can help you understand if this option is suitable for your cash flow.
Financial Flexibility: Your adviser can discuss how the funds could be used for various needs – from home improvements or debt consolidation to helping family members or enhancing your retirement. If you use the funds for property changes, ensure your Home Insurance policy is updated to reflect the full replacement value.
Staying in Your Home: Exploring how this option allows you to remain in familiar surroundings without needing to downsize or move.
"No Negative Equity" Guarantee:
Your adviser will explain that reputable providers offer a "no negative equity" guarantee.
This means your estate will never owe more than the value of your home.
As a referral service, we connect you with trusted and regulated financial advisors who specialise in equity release. They will provide personalised, impartial advice. They will help you understand all your options. This ensures a Lifetime Mortgage is the right solution for your individual circumstances.
Let Goodniss help you explore how a Lifetime Mortgage could enhance your financial well-being.
Ready to Explore Your Options? Start Your Free Referral Chat
Book your free, no-obligation chat to see how expert advice can protect your income, family, and assets.
A regulated financial adviser specialising in equity release will provide you with a comprehensive understanding of the different types of Lifetime Mortgages and equity release products available.
They can discuss:
Standard Lifetime Mortgages: They will explain how these typically allow you to release a tax-free lump sum from your home's value, often with no monthly repayments, where the loan is repaid from the sale of your home upon your passing or moving into long-term care.
Drawdown Lifetime Mortgages:
Your adviser can explain how these plans offer flexibility. You can access money over time as needed.
This can be more cost-effective, as interest is only charged on the funds you have taken so far.
Interest Only Lifetime Mortgages: They can discuss options that allow you to make ad-hoc or full interest repayments throughout the plan, helping to preserve the value of your estate, with the capital repaid later.
Retirement-Interest Only (RIO) Mortgages: Your adviser will clarify the details of RIO mortgages, including how they differ from standard residential mortgages, how interest-only repayments work, and how the loan is typically repaid when the property is sold, or upon entering residential care or death. They will also explain the affordability assessments and lending limits involved.
Your adviser will ensure you fully understand the features, benefits, and risks of each option to find the most suitable solution for your individual circumstances.
IMPORTANT:
A Lifetime Mortgage will reduce the value of your estate.
It may affect your entitlement to means-tested benefits.
To understand the features and risks, ask for a personalised illustration.