Equity Release

Equity Release – “A tax free income solution for your homeowner clients over 55”.

At Connect, we offer an effective solution for your clients who are likely to be cash poor but asset rich. Equity release is an innovative approach for people aged 55 and over to obtain cash from their property for an array of reasons such as:

  • Paying off an existing mortgage
  • Funding home improvements
  • Inheritance planning
  • Receiving low pensions
  • Financially supporting loved ones
  • Wishing to fund personal leisure
  • Or more!

What does equity release entail?
In it’s process, the individual can obtain straight up large sums of money or a steady stream of income based on the value of their residential property. This in return is to paid off from the properties value, usually when the homeowner passes away. The cash given to the individual, can be spent on whatever they choose.

Why use Connect?
As well as being an award winning company, we are:

  • FCA regulated.
  • Have access to a wide range of equity release and later life lenders.
  • Provide support from specialist advisers.
  • Offer exclusive products.
  • We have almost 20 years experience in the property market.

You can also view our testimonials to hear how we have helped other brokers previously.

IMPORTANT – It is worth noting that if you do not have the correct permissions or qualifications to complete an enquity release case, you can use our referral services to still reap the benefits of receiving commission upon completion of your client’s requirements.

Case Study –
Mr and Mrs M in their early 70’s had an interest only mortgage with a term coming to an end. They had limited income from pensions and wished to remain in the current family home.
We were able to find a provider that was prepared to lend just under 50% of the property value which released enough funding to repay the existing mortgage loan as well as repay some personal debt. This reduced monthly outgoings for Mr and Mrs M by nearly £1,600 per month and meant that they were able to stay in their current home.’’

 

Our Awards –

Contact our Advisers
If you would like to find out more about equity release or have a case that you are struggling with, then feel free to speak to one of our specialist advisers today. They will gladly assist you with what you need.


Company Director
& Sales Director
Niall Hebron
niall@connectmortgages.co.uk
01708 676 129

Mortgage
Adviser
Richard Turner
richard@connectmortgages.co.uk
01708 676 137

Mortgage
Adviser
Richard Jeremiah-Clarke
richardjc@connectmortgages.co.uk
01708 676 119

To find out more about Equity release, click the relevant links below.

Got a current equity release case that you need help with? Or would you like to know more? Then please feel free to fill out an enquiry form below or call us on - 01708 676 123.


Get in touch with us...

How much can you borrow?

Below are some estimated figures which your clients could be offered if they are allocated to to the correct lender. Please note that lender offerings vary and we commit ourselves to ensuring that your clients receive the maximum LTV that they are entitled to. Mild to severe health complications also can boost the LTV.

55 years of age - 22.5% LTV
65 years of age - 32.2% of LTV
75 years of age - 42% of LTV
86+ years of age - 50.5% LTV

(These figures are only a guide and are used to merely demonstrate what your clients could be entitled to).

Further Benefits of Equity Release

- A Secured loan
-Access to disposable income
-An Immediate solution to you client’s financial need
-Your clients have nothing to pay for the rest of their life
-It can provide support with inheritance tax (Due to the proportion of the properties value being put towards the lender).
-There is no need to pass affordability checks

Equity Release Myths

You can’t move house (FALSE, you can take the equity release plan with you when you move home)

-You no longer own your own home (FALSE, you will still be the legal owner of your home)

-You cannot owe more of the value of your own property (FALSE, the 'no negative equity guarantee' means you will never owe more than the value of your property) 

-You must make monthly mortgage payments (FALSE, the loan, plus roll up interest, is repaid when the plan comes to an end)