Remain living in your lovely home whilst using its value to access extra cash for living the life you want.

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What is a lifetime mortgage?

A lifetime mortgage is also known as equity release and this allows you the opportunity to release funds from your property whilst continuing to live there. They are available to homeowners who are aged 55 and over.

With a lifetime mortgage:

  • You borrow a proportion of your home’s value
  • Interest is a charged on the amount throughout your lifetime
  • You continue to own and live in your home
  • You do not have to repay the loan or service the interest until you die or go into long term care, however, you can if you would like to reduce the cost of borrowing 
  • Lifetime mortgages are regulated by the FCA

What can I use a lifetime mortgage for?

Is a lifetime mortgage right for me?

  • The current interest rates are at an all time low which make this a very attractive option for people wanting access to more cash
  • You can stay in your home for the remainder of your life (this will either be until the last person has died or moved into long term care)
  • Receive your cash as a lump sum, as an income or both
  • The cash is tax-free and you can use the money as you wish
  • The amount you mortgage is not based on your affordability
  • No need to make monthly repayments; unless you wish to make them
  • Throughout the borrowing process, you will continue to own your home
  • Equity release can reduce the value of your estate, which can be useful in reducing your Inheritance Tax liability.
  • Unlike previous years, liftime time mortgages is highly regulated and that has brought much comfort to borrowers.
  • You are charged interest which means you run the risk of owing more than you borrowed when the time comes for the home to be sold (But no more than the total value of the property)
  • Compound interest will increase the debt owed on the money borrowed
  • It may reduce the amount of inheritance your beneficiaries could receive.
  • If you choose to repay all or part of the loan early there may be an early repayment charge.
  • It is unlikely that other loans can be taken using the property as security

We Are Here To Help!

Everyone’s circumstance is different, we are here to give you the advice you need to help you make this decision. It must be suitable given your financial situation and the future you want.

We will talk you through your options 
We will advise you on how much you can borrow
We will establish if equity release is right for you
We will answer any questions you have

We work very closely with an Equity Release Specialist who will be meeting with you and finding the best possible solution for your individual circumstance.

Find out if a lifetime mortgage is right for you.

Get a free consultation with a professional adviser.

We charge a set fee depending on the size of the loan,  which is only payable if you accept the recommendation of the specialist adviser.

Important things to note!

    • Equity release is a complex and life-changing decision, so it’s vital that your plan is suited to your needs.
    • You will be aware that house prices can go up as well as down and the cost associated with setting up your equity release plan will have an impact on the amount of equity you retain in your property at any time.
    • Equity release schemes let you drawdown cash from your property and remain in your home. You can take the amount as a lump sum, or take some now with the option to make additional drawdowns later.
    • If you want to quit the scheme early you will usually have to pay an early repayment charge.
    • Equity release can be expensive. Therefore it is essential to consider other options such as downsizing or borrowing money from family members.
    • We recommend that you discuss your Equity Release plan with your family.
    • All Equity Release advice is provided by Greg May Retirement Solutions, a trusted broker of Ascot Wealth Management.
    • This should not be taken as financial advice, should you need financial advice please contact a financial adviser.

Who are Ascot Wealth Management?

Ascot Wealth Management is an award winning wealth management firm with a strong presence in the London area and surrounds of the United Kingdom.

Our message is simple: Provide cost-efficient, fresh thinking and dedicated planning process with tailored investment solutions to suit all individual needs. We push boundaries to make wealth management available to everyone.

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If you require more financial advice then please contact us by email or phone so that you can speak to a qualified financial adviser.

Any information provided/gathered will be subject to the General Data Protection Regulation (GDPR). You may be assured that we and any company associated with Ascot Wealth Management will treat all personal data and sensitive personal data and will not process it other than for a legitimate purpose.

This is a lifetime mortgage. To understand the features and risks, please ask for a personalised illustration. Check that this mortgage will meet your needs if you want to move or sell your home or you want your family to inherit it. If you are in any doubt, seek independent advice. For Equity Release advice we do not charge any upfront fees however, a fee of £995 is payable on completion for our service in relation to lifetime mortgage contracts plus commission from the lender.

A lifetime mortgage may impact your entitlement to means tested benefits and may the impact inheritance your you entitlement may to leave. 

Ascot Wealth Management Ltd is authorised and regulated by the Financial Conduct Authority. Registered Company No. 551744. Registered address:
Scotch Corner, London Road, Sunningdale, Ascot, Berkshire, SL5 0ER

Copyright © 2021 Ascot Wealth Management Ltd, All rights reserved.

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