Over 55 equity release to move to a nicer house
When your children leave home, it’s a natural stage at which to reconsider where you live. Alternatively, you may find that you have more time and want to buy a second property abroad, so you can relax in sunnier climes. If you’re too old for a conventional mortgage, equity release can be the ideal solution to help you buy the house that is the perfect fit for the next chapter of your life.
Over 55 equity release through home reversion or a lifetime mortgage can help you if you want to:
- Downsize – and need to release equity to improve the quality of house you can afford
- Downsize – and are looking to buy a property of higher value
- Move home – but don’t want to use all of your own savings
- Move home – but don’t qualify for a conventional mortgage
- Buy a second home
- Buy a second property abroad
Case study: moving to a new home
A couple in their 60s came to us because they wanted to relocate from the north of England to the south coast to be nearer their grandchildren. They had a buyer and had found their ideal home but, due to the higher property prices in the south, were £40,000 short of being able to fund the purchase. With the help of over 55 equity release through a lifetime mortgage we were able to help them achieve the purchase of their dream home to be closer to their family.
We did it!
We used equity release to buy a new property
‘55+ Equity Release were referred to me by a financial planner when I was looking to move from Kent to Scotland and wanted an equity release mortgage to buy a new property. I tend to do quite a lot of research into things and check different resources before settling on any one person; I opted to go with 55+ Equity Release as I felt they were honest, up front and explained things quite clearly.
We met our adviser several times during the process. They came across very well; they were very pleasant and listened properly to what I was saying and came back to me with answers. I felt that they were giving me honest advice and always acting in my best interests. They went through everything very thoroughly and made sure I understood all stages of the process.
Importantly, they were also quite tenacious. Some of the financial services people needed prodding to keep things moving; our 55+ Equity Release adviser kept up the pressure on them on my behalf to get it all through as quickly as possible and kept me in the loop about what was happening at all stages.’Nigel Edwards, successful over 55 equity release applicant, St Andrews, Scotland