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Mortgages - find an independent financial advisor

As we get older in retirement many of us are looking to remain independent and want to stay in our own homes for as long as possible and often this means raising funds either by way of a mortgage or equity release scheme. Choosing the right mortgage or equity release is hugely important - lenders will give you information about their services but it may not be specific to your needs.

It is important to explore all possible opportunities with different funding institutions from banks to building societies.

Getting professional advice from an independent financial adviser is always recommended and for a private consultation covering a range of financial aspects please contact Stephen Bromage DipPFS Wealth Management Consultant, at the Graham Harms Partnership. Telephone: 01635 601104                      St James's Place Wealth Management


Finance - Equity Release

Equity Release is a term used to describe withdrawing capital (a sum of money) from the value of your property. In effect it means using some of the value of your home to fund living expenses whilst still being able to occupy hour house or flat. You are really exchanging a percentage of the value of your property for a sum of money now which is otherwise ‘locked up’ and not available to you. 

It is important to realize that you must be over 55 and if you have existing borrowings set against your property these will have to paid off first before an equity release company will provide you with the capital agreed to be released; normally through one of two different types of plan. The first type of scheme and increasingly popular is really a mortgage with a fixed interest rate. The second type is known as a home reversion whereby you sell part of your home.  It is extremely important to seek independent professional advice.

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