Later Life Finance
Enhance Your Later Life Finance in 2024
Discover the wide range Of flexible later life mortgage solutions built around you.
Discover Flexible Later Life Mortgage Solutions Built around You.
As we approach our later years, finding the best later life mortgages can help you plan a financially secure future.
Later life finance are a specialist later life equity release and later life mortgage broker.
You can count on our knowledge and expertise to guide you through your later life finance options with confidence, support and trust.
We provide expert equity release comparison and source the top deals for our customers.
We provide access to the whole later life mortgage market and are a fully FCA authorised later life mortgage broker.
We specialise in remortgages, and many of our clients raise cash to gift an early inheritance and for enhancing their retirement years in financial security.
We can help you safely navigate all your options, including lifetime and retirement mortgages.
We have access to the best equity release companies and schemes to secure you the right solution, and will answer your questions, including is equity release a good idea, and is there any catches you need to consider when raising money from your home.
We are also a member of the equity release council for your peace of mind.
Cash Lump Sum
Pay Off your Mortgage
Help family with a gift
Dream Holiday
As we approach our later years, finding the best later life mortgages can help you plan a financially secure future.
Later life finance are a specialist later life equity release and later life mortgage broker.
You can count on our knowledge and expertise to guide you through your later life finance options with confidence, support and trust.
We provide expert equity release comparison and source the top deals for our customers.
We provide access to the whole later life mortgage market and are a fully FCA authorised later life mortgage broker.
We specialise in remortgages, and many of our clients raise cash to gift an early inheritance, and for enhancing retirement years in financial security.
We can help you safely navigate all your options, including lifetime and retirement mortgages.
We have access to the best equity release companies and schemes to secure you the right solution, and will answer your questions, including is equity release a good idea, and is there any catches you need to consider when raising money from your home.
We are also a member of the equity release council for your peace of mind.
Later Life Equity Release Solutions
As a specialist later life equity release broker, we have access to the whole market to ensure you source the correct solution for your requirements. We compare equity release plans for you, analyse the lenders, schemes and criteria to ensure you find the best plan for your current and longer term plans to help you’ future proof’ for extra peace of mind.
How Can I Improve My Finances With Later Life Mortgages & Equity Release?
Unlocking some of your property wealth could help you make the most of your retirement with a wide range of options to consider:
Boost your finances with flexible later life lending solutions including lifetime and retirement interest only mortgages. Use our interest only lifetime mortgage calculator and book a free review of all your options.
Find out what are the best interest rates on equity release plans in 2023
Clear your existing mortgage & unlock tax free cash with our later life equity release experts
Safe range of equity release products available with fixed early repayment charges
Repay an interest only mortgage or raise money against an unencumbered property with a later life mortgage.
Learn how much equity you can release with our equity release experts & access detailed illustrations
Equity release council registered plans for your protection and peace of mind
Our pledge to You
We always put your best interests first, and we will explain which later life lending options are suitable without any commitment to proceed. We genuinely care about what’s right for you.
Later Life Financial Planning For Mortgages
Retirement mortgage products including equity release and retirement interest only mortgage plans are becoming increasingly popular among retirees seeking additional funds. These products allow homeowners to release equity from property, which is a valuable asset that has been accrued over the years.
Homeowners over 55 are enjoying the benefits of unlocking tax-free cash from their homes to boost finances, settle existing mortgages and provide more financial security. When considering how lifetime mortgages work, we review and explain the features, options and disadvantages to ensure you can get the very best solution to fit your personal needs. We provide a complete start to finish later life mortgage broker service for when you’re ready for local equity release advice nearby and to learn more and what’s best for your specific requirements.
We compare plans including RIO mortgages for complete transparency to ensure you can make an informed decision on the best solution for your needs. We only deal with equity release council registered plans for your protection and peace of mind.
Which Solution Is Best; A Retirement or Lifetime Mortgage?
The difference between retirement mortgages and equity release mortgages is based on repayments. Retirement interest only mortgages have fixed monthly payments and lifetime mortgages do not, although you can make voluntary repayments with lifetime mortgages to manage the interest.
Lifetime mortgages are deemed safer for homeowners, as in the event of default you are at risk of losing your home with a retirement mortgage, which you are not with a lifetime mortgage, as the interest is compounded if you do not make any voluntary repayments to the loan amount borrowed to the equity release product.
The flexible mortgages allow individuals to release equity to clear an existing mortgage and boost finances. The mortgages typically run until the property is sold or the borrower passes away. Try our free equity release calculator today.
How can a later life mortgage enhance my retirement years?
From helping family members onto the property ladder to raising a lump sum to boost retirement income, the options in later life are rich and varied.
Is A Later Life Mortgage Suitable For Me?
Perhaps you want to support your loved ones with a financial boost, or maybe you’re just looking for a little extra income to help cover the rising costs of living. We will establish what’s the most suitable option based on your personal requirements and provide you with detailed illustrations, which we will fully explain for complete transparency and understanding.
Our later life lending solutions will help you achieve your plans with access to a wide range of solutions, with features including flexible early repayment charges in case your circumstances change in the future, meaning you don’t need to be tied into the mortgage for life.
Whether you wish to clear an existing interest only mortgage or arrange a tax free cash boost, we help explain all your options and how much equity you can release from your home, and highlight all the key later life finance points you need to consider when exploring your options to raise cash from your home.
Affordability assessments are not required with equity release mortgages as there are no mandatory repayments.
Negative Equity Guarantee for security in your home
With the security of a no negative equity guarantee for a cast iron guarantee, you will never leave a debt to your estate if you ever had negative equity arising from the mortgage.
This is part of the equity release council code of conduct and ensures your family would never inherit a debt.
Modern plans now allow voluntary repayments to help maximise the inheritance you can leave your beneficiaries which will also eliminate compound interest accruing.
This feature is very popular with homeowners looking to raise equity without compound interest being added.
Independent Later Life Mortgage Experts
Accumulated wealth built up property value of the past few decades makes equity release an option worth considering for many homeowners, especially where downsizing is not preferable. The plans are repaid when the last surviving homeowner passes away or goes into long term care. Later Life Finance are experts in equity release. We offer a friendly, independent broker service and review the whole market to find your best solution.
We are members of the equity release council. increasingly popular way for homeowners in to unlock the wealth tied up in their homes. Our equity release calculator will help you get started.
Later life mortgages, equity release and lifetime mortgages, what's the difference?
A lifetime mortgage is a loan secured against your home that doesn’t have to be repaid until you die or move into long-term care. Interest is added to the loan over time, so the amount you owe will increase. However, some mortgages offer the option to make interest payments to reduce the overall cost.
Retirement interest only mortgages are another option which we compare when reviewing the market for a complete overview of all your options.
As a specialist broker we deal with all equity release companies and search the market for the most suitable solution based on your needs. With the security of an interest rate fixed for life, equity release mortgages provide long term security for homeowners to enjoy later life in financial comfort.
Try our free equity release calculator and book a free consultation to discuss your options.
Key considerations to ensure you get all the facts when comparing the market
With a later life mortgage, you can release some of the equity in your property as tax-free cash, whilst retaining 100% ownership of your home, with the freedom to live there for as long as you like.
Plus, with flexible repayment options like voluntary payments, monthly interest payments, and even the ability to port your mortgage to another property, later life mortgages are designed to give you maximum financial flexibility.
That’s why we’re here to provide expert later life mortgage and guide you through the process every step of the way. Our team of specialist mortgage advisers will take the time to understand your unique needs and goals, and work with you to find the best equity release options to suit your individual circumstances. With our personalised illustrations and in-depth knowledge of the features and risks of equity release, you can trust us to help you make the right decision for your financial future.
What are the benefits of taking tax free wealth with later life mortgages?
Equity release can provide a valuable source of income in retirement, as well as offering inheritance tax planning benefits. Our free equity release calculator provides an indication of how much you may be able to raise from your home.
Here are some ways that equity release could benefit you:
Boost retirement income
Equity release can provide a lump sum or regular payments that can be used to supplement your pension income, enabling you to enjoy a more comfortable retirement.
Inheritance Tax Planning
Equity release can be a useful tool for inheritance tax planning, as the mortgage is deducted from the value of your estate when it is settled, which can also reduce your inheritance tax as a result.
Fund home improvements
If you have a list of home improvements you’d like to make but don’t have the funds to do so, equity release could provide the necessary funds. This can be particularly useful if you want to make modifications to your home for a more comfortable retirement.
Clear outstanding debts:
If you have outstanding debts such as credit card balances or loans, equity release could help you to clear these debts and reduce your monthly outgoings.
Provide financial support for loved ones
Equity release can also be used to provide financial support for loved ones, such as helping children or grandchildren with a house deposit or paying for their education.
When considering equity release, it’s important to seek professional financial advice to ensure that it’s the right option for you to find the best provider for your needs.
For many older homeowners in Yorkshire and Harrogate, equity release can offer a valuable source of income and inheritance tax planning benefits. Contact us on 0800 2465228 or complete our contact form to arrange a free review of all your mortgage options.
What are the best later life lending mortgage products available?
Flexible lifetime mortgages with drawdown facilities to raise extra funds for your future plans are available. We provide a complete equity release broker service to our customers across Yorkshire and throughout the UK.
From our office in Leeds, near Leeds & Bradford Airport in Yeadon, we provide advice via telephone, video call and home visits. As a specialist in releasing equity we guide our customers through all options and review the entire market on an independent basis.
Contact us on 0800 2465228 or complete our contact form to arrange a free review of all your later life mortgage options.
Summary
- It’s important to consider interest rates, eligibility for means-tested benefits and alternatives.
- The Equity Release Council ensures compliance with standards including the no negative equity guarantee. Consulting our specialist advisers is crucial to ensure you access to the correct solution for your needs.
- Plans are flexible with voluntary repayments which can be made monthly or on an ad hoc basis.
- Homeowners can choose between lump sum or smaller amounts from a drawdown facility. Plans can be ported or repaid early, subject to the exit rules of the plan.
Later Life Finance FAQs
"I've climbed the mountain.
Now I want to enjoy the view"