Equity Release

Have you considered equity release as a way to raise capital?

Guidance for borrowers looking to release funds

There are now a variety of products available to help older borrowers release equity from their homes, and increasingly age is no obstacle to borrowing in many cases. We are authorised to advise on all types of later life and equity release products, but the most common by far are lifetime mortgages.

Typically, a lifetime mortgage involves borrowing a lump sum – sometimes with the potential to draw down on additional funds subsequently – on a rate that is fixed for life. The term will be open ended, and there are no compulsory monthly payments. In most cases, the loan will be repaid when the borrower either dies or enters long-term care permanently, at which point the property is sold and the debt repaid.

Bigmore Mortgages are members of the Equity Release Council, the leading industry standards body, and we’re committed to the highest standards of advice.

Releasing equity can be life changing - be that for carrying out home improvements, helping a loved one buy their own home, or paying for care costs later in life – however it is not right for everyone, and there are potential risks associated with it. At Bigmore Mortgages, we appreciate this, and by working with our colleagues in the financial planning arm of the business, we’re uniquely placed to offer holistic equity release advice and address your retirement planning needs.

Our Process

First Meeting

We will have an initial meeting to discuss your requirements.

Review the Market

We review the whole of market to find the most suitable product and mortgage structure to suit your needs.

Report and Recommendations

We will report our findings, including a full recommendation outlining our rationale. At this stage we will also confirm your borrowing capacity was a Mortgage in Principle.

Application Submission

Your application is submitted, along with supporting evidence for the lender to assess, and seen through to offer stage.

Working Towards Completion

We will liaise with the lender and solicitor to ensure all requirements are in place and that completion of the mortgage will take place without issue.

Ongoing Support

When your mortgage is due for renewal, we will reach out to guide you through the renewal process. We are also only a phone call away if you intend to make a new purchase.

We are here to help you

Request a quote and experience our top class support first hand.

Please use the form below to contact us today to discuss how we can help you.