Your client’s home is more than just bricks and mortar. It houses a wealth of memories. So why would they necessarily sell their property when they can release some of the equity tied up in it to further enhance their lifestyle.
Benefits of treating property as an asset
The perception of equity release is changing and people are increasingly receptive, as shown by rapid market growth. According to the Equity Release Council (ERC): ‘Growing interest in the equity release market from consumers is a sign that more homeowners consider housing wealth to be a potential source of finance in later life, and are finding an increasingly flexible range of products enabling them to unlock some of its value.’
Good financial planning is about putting the right amount of money into the right hands at the right time.
Retirement should be fulfilling. The ERC says people are treating equity release as a supplement to other income they have rather than as the sole source, or simply moderating their withdrawals of housing wealth.
While equity release can be used by people to help alleviate debt problems, it can also be used by wealthier clients who want to:
- Gift children / grandchildren the money to help them with house purchases.
- Help with school fees.
- See their family enjoy their inheritance while they’re alive.
Benefits of the Just For You Lifetime Mortgage
- Flexibility for your client:
- We provide an initial lump sum with the option of a cash facility from which your client can release additional amounts in the future as and when needed
- We offer the option to service all or some of the monthly interest amount which could help to reduce the overall cost of the loan amount
- For those clients who are not servicing interest, they are able to pay back up to 10% of each advance amount without being charged an Early Repayment Charge
- Potential for your clients to borrow a higher amount depending on their health and lifestyle conditions with our expert underwriting capabilities
- With the no-negative equity guarantee, your clients won’t have to pay more than the sale proceeds of the property, even if it’s less than the amount owed. This applies when the property is sold following death or entry into permanent long-term care. Equity release can also be used to help boost your client’s lifestyle, as well as the specific purposes mentioned above.
If you’re unsure if your client’s home is acceptable, simply get in touch with us to see how you can help your customers realise their untapped wealth.
For more information
Call: 0345 302 2287
Email: support@wearejust.co.uk
Or visit: justadviser.com
Lines are open Monday to Friday, 8.30am to 5.30pm
