MCAL Equity Release
Listing Description
MCAL EQUITY RELEASE provides advice on equity release schemes including lifetime mortgages and home reversion schemes. Mortgage Concepts Associates Ltd have over 10 years of experience in providing specialist advice on Equity Release schemes and are here to help you. We are based in Central London but have qualified and highly experienced advisers covering the whole of the United Kingdom
- Accepts Credit Cards
- Parking Street
- Wireless Internet
How does equity release work
Equity release allows you to receive a lump sum or regular payments by borrowing against the value of your home. The loan, plus interest, is usually repaid when the property is sold, either when you pass away or move into long-term care.
Who is eligible for equity release
Generally, homeowners aged 55 or older are eligible for equity release. The property must be in reasonable condition and of a certain value, which varies by provider.
What types of equity release plans are available
The two main types of equity release plans are Lifetime Mortgages and Home Reversion Plans. Lifetime Mortgages allow you to borrow money secured against your home while retaining ownership. Home Reversion Plans involve selling a portion or all of your home in exchange for a lump sum or regular payments while retaining the right to live in the property rent-free
How much money can I release from my home
The amount you can release depends on your age, the value of your home, and the type of equity release plan you choose. Typically, older homeowners and those with higher-valued properties can release more equity
Do I retain ownership of my home with equity release
With a Lifetime Mortgage, you retain full ownership of your home. With a Home Reversion Plan, you sell a portion or all of your home but retain the right to live in it rent-free for the rest of your life or until you move into long-term care
Will equity release affect my inheritance
Yes, equity release will reduce the value of your estate and the amount of inheritance you can leave. However, some plans offer an inheritance protection feature, allowing you to ring-fence a portion of your property’s value
Is equity release safe
Equity release is regulated by the Financial Conduct Authority (FCA) in the UK. Choosing a plan from a member of the Equity Release Council offers additional safeguards, including the no negative equity guarantee, ensuring you never owe more than the value of your home