We can provide professional advice on and arrange the following:
Your Property may be repossessed if you do not keep up repayments on your mortgage.
We will advise and make a recommendation if required regarding:
As with all insurance policies, conditions and exclusions apply.
Beverley Callander has been authorised to advise on Equity Release/Lifetime Mortgages since 2012.
A Lifetime Mortgage involves taking a type of mortgage which does not require monthly repayments, although with some plans rather than roll up the interest, you can opt to make monthly repayments if you wish. You retain ownership of your home and interest on the loan is rolled up (compounded). The loan and the roll up interest is repaid by your estate when you either die or move into long term care, If you are part of a couple, the repayment is not made until the last remaining person living either dies or moves into care, meaning that both you and your partner are free to live in your home for the rest of your lives.
If you take out a Lifetime Mortgage, you can choose to receive your funds in a lump sum or there is also an option available to increase the amount you have borrowed as and when you want to, up to the maximum limit agreed with the plan provider. You can also elect to protect some of the value of your property as an inheritance for your family, meaning that you can benefit from releasing equity while still retaining something to pass on to your children. Some people may be able to release larger lump sums due to impaired health or may prefer to make monthly repayment in part, or in full, with an option to roll up at later date if the monthly payments become unaffordable.
The fee for advice and arranging an Equity Release/ Lifetime Mortgage is £695.
Two face to face appointments are a requirement and she actively encourages you to have a family/friend present at both appointments. It is important to complete a comprehensive fact find, as an Equity Release plan may affect your tax position, your eligibility for means-tested benefits or your ability to move or sell your property.
All plans Beverley recommends if they suit your requirements are regulated under the Financial Conduct Authority and have the protection of the Equity Release Council, "No negative equity guarantee".
This is a lifetime Mortgage. To understand the features and risks, ask for a personalised illustration.
A lifetime mortgage is a long term commitment which could accumulate interest and is secured against your home. Equity release is not right for everyone and may reduce the value of your estate.
We were first time buyers and had no clue what we were doing. We were recommended by our solicitor to contact Beverley and Bethany and it’s the best advice we could have been given. The guidance we were given by them and the way things were explained to us were very professional. When we didn’t understand something it was easy to ask them to explain things in a more simple way to help us understand and they didn’t make us feel stupid. They managed to find us a lender with our complicated situation and we are extremely happy that our housing situation was in their hands. We would not hold back from contacting them again or recommending them. Thanks for all your help ladies.Dan and Margo Latham ~ 13th November 2017
Professional Mortgage Advisers Ltd is an Appointed Representative of Stonebridge Mortgage Solutions Ltd,which is authorised and regulated by the Financial Conduct Authority.
Registered Office: Professional Mortgage Advisers Ltd, 26 Spoutwells Drive, Scone, Perth, PH2 6RR. Registered Company Number: SC270934 Registered in Sotland.
The guidance and/or advice contained in this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.