Is it right for you?

Equity release can give you financial freedom; however sometimes it isn’t right for everyone and Key will be able to help you make that decision. Before you proceed with an equity release plan, please consider the following points.

• All equity release plans will reduce the value of your estate, which will affect the amount you leave as an inheritance. Our partner Key recommends that you invite any family members to this consultation as an opportunity for them to ask any questions they may have.
• Equity release may affect your entitlement to state benefits. Your adviser will be able to explain this to you in more detail.
• Releasing cash from your home is a lifetime commitment, with the loan only expected to be repaid in full when you and your partner pass away or move into long term care. If you wish to repay the loan early, early repayment charges may apply.
• It may be a more viable option to sell your home and downsize as opposed to releasing the equity; however many don’t wish to move out of the house they call their home.
• Your family could assist you financially; however many people don’t wish to burden their family with financial pressures.
• Other forms of borrowing could be a better option; however equity release means that you will have no monthly repayments to meet.
• You could use savings or investments you already have.
• Our partner Key only advise on SHIP- approved plans (Safe Home Income Plans) which guarantee that you will never fall into negative equity, can move home if you wish and are able to stay in your home for life.
• Think carefully before securing other debts against your home.
• This is an equity release plan. To understand the features and risks ask for a personalised illustration.
• Key’s typical fee is 1.65% of the amount released, payable only on completion of the plan.

If you want more information about equity release, request your FREE 32-page equity release guide today to find out more, or call 0808 156 26 74.