Stay in your own home for longer with Yours
– and reap the cash benefits you deserve
In 2017, the average cost of care home nursing surpassed £1000 per week*. This is a major concern for many over-55s who dread the idea of needing specialist care in the future or having to pay extortionate upfront fees for the service, eating into their retirement finances.
One option could be to fund this care in your own home with equity release. The most popular type of equity release plan is a lifetime mortgage, which is a loan secured against your home. You could use the money released to make adjustments for mobility (subject to lenders criteria), arrange for specialist nursing care at home and, most importantly, keep your independence.
A lifetime mortgage allows homeowners aged 55-95 to release tax-free cash from the value of their home without having to move. Equity release will reduce the value of your estate and may affect your entitlement to means-tested benefits.
Unless you decide to go ahead, Key’s service is completely free of charge as Key’s usual advice fee of 1.99% of the amount released would only be payable on completion of a plan, subject to a minimum advice fee of £1,499.