Hase Osborne specialises in arranging Equity Release schemes which can provide a lump sum or income from the value of equity in your property if you are at least 55 years of age. Funds can be used for any purpose such as:
- Boosting your cash reserves or income in retirement
- Home improvements
- Reducing other debts
- Financing holidays, celebrations or special occasions
The main difference between an Equity Release scheme and a traditional mortgage is that no interest is payable during your lifetime (it rolls up and is added to the loan), the entire debt is deferred until your home is sold.
Not all financial advisers are authorised to advise on equity release but all Hase Osborne financial planners have passed the requisite exams and received authorisation from the Financial Services Authority to do so
We only recommend schemes which provide a guarantee that the outstanding loan will never put you in a 'negative equity' position whereby it exceeds the value of your property - the lender will bear that risk and you retain ownership of your property for your lifetime (until second death for joint-owners)
We will explain the entire process and its implications before you decide whether to proceed, immediate considerations should include:
- The value of your estate will be reduced by the outstanding loan and interest due
- Typically the initial loan will double over a twelve year period once interest is added (assuming a 6% pa interest rate)
- Equity release may involve a lifetime mortgage or home reversion scheme. To understand the features and risks, ask for a personalised illustration.
- Check that this type of mortgage will meet your needs if you want to move or sell your home or you want your family to inherit it. If you are in any doubt, seek independent advice.
An initial consultation is available at our expense and without obligation.