By taking liability for the mortgage, they must pay SDLT on that amount. It’s charged at £1,500 in this example (0% of £125,000 + 2% of £75,000). More people are buying properties with friends or family to get on the property ladder. You might have bought the house on your own and then later entered a relationship.

Our advisers can guide you through the options to ensure you are making an informed decision that fits your needs and circumstances. Get expert, nationwide Equity Release guidance and advice on a lifetime mortgage, remortgages, alternatives to Equity Release, interest rates, inheritance tax and care home fees from our IFAs in Tunbridge Wells. The most popular type of equity release is a lifetime mortgage and they are usually available from age 55.

“The main challenge for equity release has been reputation,” he said. The great thing is you can do it now, when they may actually need it. Remote physiotherapy – clients get free sessions with a trained UK physiotherapist. If equity release wise opt for printed study material, you will incur postage and packaging charges, which will be applied at checkout. Further information on delivery and returns is available in our FAQs section. In the financial services sector, we are in a unique and privileged position to serve the public, create wealth and solve problems.

Off the remainder of your mortgage equity release could be a solution for you. With the current cost of living crisis, paying monthly mortgage payments might be a struggle alongside bills and other expenses. Equity Release can be used for a number of things, paying off your mortgage to ease monthly expenses being one of them. A lump sum lifetime mortgage involves a loan that is secured against your home. It provides you with a single injection of cash that you can spend however you please, and you still retain ownership of your property.

Enness has operated in the equity release market for several years, and the team understand current market trends and what these mean for you. In the current low-interest-rate environment, there is enormous liquidity in the lending market. Enness acts for many high-net-worth individuals who can have assets spread across the world and various forms of income, often in foreign currencies. Very often, high street retail banks won’t include these assets in affordability calculations. This can significantly impact how much sense it will make for you to borrow from these lenders and the finance packages that will be available to you.

As a result, you will still need to adhere to various lending criteria. Always get specialist financial advice before signing up for an equity release scheme. Any money released, plus accrued interest would be repaid upon death, or moving into long-term care. For many people their home is probably their biggest financial asset, far outweighing any savings and income. A popular way to tap into this wealth is through an equity release plan.