We understand that exploring equity release is a significant decision. That’s why our approach is built on empathy, clarity, and trust.
At Chetwood Lloyd Mortgages, we recognise that considering equity release, lifetime mortgages, or retirement interest-only (RIO) mortgages is a significant decision. Our CeRER-qualified and FCA-regulated advisors are committed to providing expert guidance tailored to your unique circumstances, ensuring you make informed choices with confidence.
Understanding Equity Release
Equity release allows homeowners aged 55 and over to unlock tax-free cash from the value of their homes without the need to move. This can be achieved through:
Lifetime Mortgages: A loan secured against your home, enabling you to release a lump sum or drawdown facility. Interest can accumulate over time, with the loan and interest typically repaid upon death or when moving into long-term care.
Home Reversion Plans: Selling a portion or all of your property to a provider in exchange for a lump sum or regular payments, while retaining the right to live in the property rent-free. Repayment occurs upon death or entry into long-term care.
Exploring Retirement Interest-Only Mortgages
Retirement Interest-Only (RIO) mortgages are designed for individuals typically over 55, allowing you to pay only the interest on your loan, with the principal repaid when the property is sold, you pass away, or move into long-term care. This option can be suitable for those seeking to manage monthly outgoings while maintaining homeownership.
Utilising Funds from Equity Release and RIO Mortgages
The funds released through these financial products can be used for various purposes, including:
Home Improvements: Enhancing your living space to better suit your needs or increasing your property's value.
Debt Consolidation: Combining existing debts into a single payment, potentially reducing monthly financial commitments and simplifying finances.
Once-in-a-Lifetime Holidays: Funding dream vacations or experiences, creating lasting memories without financial strain.
Equity Release Mortgages: Specifically designed for older homeowners to access the value tied up in their property without the need to move. This includes lifetime mortgages and home reversion plans.
Our Commitment to You
At Chetwood Lloyd Mortgages, we prioritise empathy, clarity, and trust. We take the time to listen, explain, and address any concerns you may have, ensuring the process is straightforward and transparent. Our goal is to help you explore how these financial solutions can support your goals—whether that's enjoying your retirement, assisting loved ones, or achieving financial peace of mind.
Our service is not just about advice; it's about understanding what matters most to you and ensuring you feel secure every step of the way. Let us guide you with care, backed by our qualifications and regulation, so you can unlock the value of your home with confidence and clarity.
Whether you are buying a home or need to remortgage, we're here to help you to find the best solution.
