Retirement Services

Yours

Many over-55s don’t realise they could tap into the value built up in their home through a lifetime mortgage, the most popular type of equity release plan, to access tax-free cash to spend as they wish. Although downsizing is an option, a lifetime mortgage allows you to remain living in your own home.

REAL LIFE STORY The Turners are retired and have lived in their Hampshire home for 25 years, so have built up a fair amount of equity...

Mrs Turner explained, “We thought it was a waste of money having all that equity in our home and that if we could access it, we might as well. And we didn’t want to downsize – we like where we live. “When we started making enquiries about equity release, Key Retirement followed up properly. They answered all our questions and were very professional. Our adviser was excellent and it was an extremely easy process to follow.”

The couple have three dogs who they often take to obedience shows so when they released cash from their home, they bought a brand new Land Rover Landmark Discovery to accommodate them. Mrs Turner explains, “We need a big car for our dogs as they are often with us all day.

“We also have a caravan so need a big car for towing and have invested in special fencing to go round the car and caravan to keep the dogs safe whilst giving them a bit of freedom.” Yours have chosen to work with Key Retirement who will explain how equity release will reduce the value of your estate and may affect your entitlement to means-tested benefits. A lifetime mortgage is a loan secured against your home, just like a traditional mortgage. Unless you decide to go ahead, Key’s service is completely free of charge, as Key’s typical advice fee of 1.95% of the amount released would only be payable on completion of a plan. To find out if equity release is right for you, request your FREE Yours guide to unlocking the cash from your home, produced in partnership with equity release specialists Key Retirement.