Later Life Lending
Helping you unlock the value in your home
Mortgages for Over 55s
Expert Advice for Later Life Borrowing
Turn your home’s value into your next chapter
As we get older, securing a mortgage or releasing equity can seem more complicated. But at Aviella, we are here to offer clear, independent advice tailored to your needs. We are not tied to any specific lenders, so I can compare the entire market to find the best options that suit your circumstances.
At Aviella Mortgages, we understand that your home is more than just a place to live; it's an asset that can help you achieve your financial goals. Our equity release solutions are designed to provide you with the funds you need, whether it's for home improvements, travel, or simply enjoying your retirement. With our expert guidance, you can navigate the process with confidence, ensuring that you make informed decisions that suit your unique circumstances
Whether you're looking to remortgage, take out a new mortgage, or release equity from your property, I can help guide you through the options. These may include:
- Retirement Interest Only (RIO) Mortgages: You make interest-only payments, with the loan repaid when you pass away or move into long-term care.
- Lifetime Mortgages: Release a lump sum from your property with no monthly repayments, with the loan settled when your home is sold (e.g., upon death or care placement)
- Equity Release: Access the cash tied up in your property without needing to move. These plans are often flexible, with options to make partial interest payments or let the interest roll up over time.
Over 55?
If you're over 55, you may also want to explore Hybrid Mortgages, which combine elements of both interest-only and lifetime mortgages.
While these products can offer great flexibility, they are not right for everyone. For example, if you want to leave your home to family or plan to move in the near future, equity release may not be the best option for you.
Choosing the right mortgage or equity release plan requires careful consideration. I'll take the time to understand your goals and guide you through your options, so you can make an informed decision that suits your needs.
If you're thinking about borrowing in later life, don't hesitate to get in touch. Contact me today for a free initial meeting to discuss your situation, and I'll help you find the best solution for your future.
Frequently Asked Questions
Here are some common questions about equity release that can help you understand the process better.
What is equity release?
Equity release is a way for homeowners, typically over the age of 55, to access the cash tied up in their property without having to sell it. This can provide funds for various needs, such as home improvements, travel, or supplementing retirement income.How does equity release work?
Equity release allows you to borrow against the value of your home. The amount you can release depends on your age and the value of your property. The loan is repaid when you sell your home, move into long-term care, or pass away.What are the different types of equity release?
The two main types of equity release are lifetime mortgages and home reversion plans. A lifetime mortgage allows you to retain ownership of your home while borrowing against its value, whereas a home reversion plan involves selling a portion of your home in exchange for a lump sum.Are there any risks involved?
Yes, there are risks, including reducing the value of your estate and potential impacts on your inheritance. It's essential to seek independent financial advice to understand how equity release may affect your financial situation.Can I still move house if I release equity?
Yes, you can move house after releasing equity, but you may need to repay the loan or transfer it to your new property, depending on the terms of your equity release plan.
Need more help?
If you have more questions or need personalised advice, feel free to reach out to our team at Aviella Mortgages. We're here to help you navigate your equity release options.
