Mansfield Begbie Associates Ltd T/A The Mortgage Shop UK Ltd
Equity Release allows you to unlock tax free cash that is currently tied up in your home without you having to move or make monthly interest payments. Think of equity release as a reverse mortgage whereby you use money now to do as you wish and a fixed rate of interest is attached to whatever you have taken. The interest then adds on to how much you owe, usually on a compounding basis to the loan secured on your property, and is paid back only when the last surviving applicant has died or gone into long term care.
The amount you can borrow will depend on your property value (minimum £60,000) and your age (youngest has to be over 55). Some providers do not have a maximum age limit, so you are never too old to benefit from an equity release scheme.
At Mansfield Begbie we offer equity release via our trusted partners and their team of experienced equity release and later life lending advisors.