Equity Release Specialists

We are a leading firm of Independent Financial Advisers based in Northampton offering specialist advice in equity release.

We were established in 2001 and have helped many homeowners to make the most of their retirement by safely releasing cash from their home with equity release.

We can guide you through the various types of equity release schemes and help you decide if any of these would be the right option for you.

We are happy to discuss your requirements over the phone or, if you prefer, we can provide a home visit service for Equity Release Advice in Northampton, Bedford, Kettering, Milton Keynes, Wellingborough and surrounding areas.

What are Equity Release Schemes, Lifetime Mortgages and Home Reversion Plans?

Equity release is an agreement between a homeowner (aged 65+) and a provider that allows the homeowner to unlock the money tied up in their home.

This money is tax-free and helps the homeowner to enjoy the retirement that they have worked for.

If you take out equity release you are still able to carry on living in your home for as long as you like.

For many, their home is their greatest asset. Equity release schemes can turn this asset into extra cash at a time when income may be fixed and low.

How much cash you can release depends on:

  • How old you are
  • How much your home is worth
  • The type of plan you choose

You should call us FREE on 0800 0842265 for a FREE - NO OBLIGATION - QUOTE.

Options within equity release

In today's equity release market three main types of equity release schemes can be found:

Lifetime Mortgage 

Conventional Interest Only Mortgage

Home Reversion 

We will be happy to run through the pro's and cons of each scheme.  Just give us a call.

Our Service on equity release: We tailor all of our advice to each individual customer's needs and circumstances and believe it is this and our unique personal service which makes us stand apart from our competitors.

We offer a free Guide to Equity Release, a free call back service to speak to an equity release specialist and a free initial equity release consultation with one of our independent equity release advisers, with no obligation to proceed any further.

We can guide you through the various types of equity release schemes and help you decide if any of these would be the right option for you.

What will you have to pay us? There are no upfront fees.  For arranging an Equity Release we will charge a fee up to a maximum of £495.  Our fee is payable on the completion of your equity release. We may also be paid commission from the company that lends you money. 

Call us for equity release advice on 01604-832932 or Free on 0800 0842265

Important points:

Please be aware that all equity release plans will reduce the value of your estate and might affect your entitlement to state benefits. You should consider carefully all of your options before taking an equity release.

Your family

While equity release plans can be a good way of cutting inheritance tax bills, they will also reduce what your family will inherit.

While it should ultimately be your choice whether to sign up to a scheme, it is probably a good idea to discuss it with close family members and/or anyone who might have expected to inherit your home. This may help avoid any unpleasantness or misunderstandings.

If the property has been a family home for a long time, bear in mind that your children or other relatives may also have an emotional attachment to it. They may even have been thinking of living in the property after you die.

Children or other relatives may be prepared to help you out financially instead of you taking out an equity release plan. They could then inherit the whole property. Cade & Co will be able to advise on any tax issues involved.

Alternatives

You may have other assets or investments which could boost your income or give you the lump sum you need. Cade & Co will be able to take a holistic view of your finances.

Consider, too, whether moving to a less expensive property might be a better way of releasing money tied up in your home – rather than letting an equity release company profit from your bricks-and-mortar investment.

Benefits

If you receive means-tested state benefits, these could be reduced or lost altogether – which in turn could mean having to pay more for things like dental treatment and glasses. Check the rules before you take out an equity release plan.

How to avoid any risk

Look for plans carrying the SHIP logo (for Safe Home Income Plans). The Equity Release Council (formerly SHIP) is an industry body set up to promote safe equity release schemes. Companies who are members provide a number of guarantees, including: you will have the right to live in your property for life, the freedom to move to an alternative property without penalties and that you will never owe more than the value of your home. Cade & Co only recommends products covered by the SHIP scheme.

If you are just retired, it may be worth waiting a few years before signing up to an equity release scheme in order to get a better deal.

Equally if you are very old or in poor health you should think carefully about schemes paying monthly incomes – you may not live long enough to get a decent return.

Costs

The equity release market is becoming more competitive. But interest rates on mortgage-based schemes, for example, are still noticeably higher than those on ordinary mortgages. Most equity release plans also involve paying valuation and legal fees, although these may be refunded assuming you go ahead. You remain responsible for repairing and insuring your home, and will still have to pay the Council Tax. Reversion companies in particular will expect you to maintain your home to a reasonable standard to protect their investment.

Can you move or sell up?

You may want to sell your house at a later date and move somewhere smaller or more suitable for your needs, or you may want to sell up completely to move into rented sheltered housing or into a care home. You should check whether any plan you are considering allows you to transfer it to a new property or whether there is a penalty if you end the scheme before death.

Advice

Getting independent financial and legal advice before taking out an equity release plan is recommended by both the charity Age Concern and the Financial Conduct Authority. Advisers are required to carry extra qualifications before they can offer advice on Equity Release. Our advisers hold the Chartered Insurance Institute Level 3 Certificate in Equity Release.

Financial Advice... pure and simple

Cade & Co provides financial advice and planning, in plain English, to people who want to ensure they make the right financial decisions at the right times and at the right cost. It's simple!
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