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Equity release plans are a way for you to access the cash locked up in your home, to help improve your retirement.
There are two types of equity release plan:
Lifetime mortgages are the most common type of equity release plan, and work by lending you a percentage of your home’s value. Depending on the plans terms you may or may not make interest repayments during the term of the loan. Where interest is not payable, or not all the interest accrued has to be paid monthly, the interest that is not paid off rolls up, gradually increasing the amount you owe throughout your lifetime. The mortgage is repaid when you die, or when you sell the home and move into permanent long-term care.
All members of the Equity Release Council guarantee that you’ll never owe more than what your home is worth.
Stay in your home Get a lump sum or an income Leave an inheritance still (with an Inheritance Protection Guarantee) You continue to own your home – if property prices increase, you benefit from it Drawdown lifetime mortgages let you borrow money as you need it, allowing you to save on interest If you die soon after taking out the mortgage, you won't have accrued as much interest on your loan
Download this information in our Lifetime Mortgage Factsheet
Equity release may involve a lifetime mortgage or home reversion plan. To understand the features and risks, ask for a personalised illustration.
Call Just Retirement Solutions on 01737 233462. Lines are open 9am to 5pm, Monday to Friday (except Bank Holidays). Calls are charged at local rates and may be recorded or monitored.
If you decide to take out a plan, there will be a fee by Just Retirement Solutions Limited of £749 for advice and arranging a recommended equity release plan. You will only be charged if you decide to take out a plan. Their advice service carries no obligation.
Equity release may not right be for everyone. If may affect your entitlement to state benefits and will reduce the value of your estate.
Equity release home Home reversion plans schemes
Equity Release CalculatorWhat Just Retirement's Customers Say
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