Equity Release Mortgages In Bournemouth
Our equity release specialist will take a look at a number of lenders from across the market and compare products to ensure you have the best product to suit your individual circumstances. They will assist with all aspects of the process, from enquiry to completion dealing with solicitors, surveyors and any other 3rd party, to ensure the transaction is smooth and hassle-free.
Barrett Mortgages is a professional finance broker and we have an office in Poole, Dorset. Providing mortgages for everyone including the equity release mortgage. We were set up by our founder Darren Barrett in 2009, during some of the hardest market conditions the industry has seen. We deliver a clear, trustworthy, honest and upfront service and means that our business has thrived during these times when clients have needed more individual and specialist help.
Back to the equity release mortgage, these mortgages are suitable for people who are aged 55 and over. Getting an equity release mortgage can mean you can pay off your existing mortgage, pay for improvements on your home or gift it to your family. The choice is yours and you can do whatever you please with the money. The amount you are able to borrow depends on your age and homes value. The money you get out of your property is tax-free. There are two different forms of equity release you can choose from. You can get one called a lifetime mortgage, with this you can continue to be the owner of the property, with a loan that is given using the house as security. Then you have the home reversion scheme this is where you sell a part of your property for lower than its market value and you can stay there as a tenant rather than an owner, we don’t advise this option.
More About Equity Release Mortgages In Bournemouth
Regardless of the type of equity release you decide is right for you, you and your family are allowed to live in the property until the last living borrower dies or decides to move out and into a long term care facility. If you, therefore, have any plans to sell your home in the immediate near future an equity release mortgage might not be right for you. How does it all work? If you find the prospect of applying for equity release daunting, it is best to speak to a professional equity release advisor; We have team members who can help you decide whether equity release is right for you, by giving you advice and putting forward the application. The amount of time it takes to take out an equity release mortgage depends on the lender and the product. It could take anywhere between 8 to 12 weeks in normal circumstances.
All of our staff at Barrett Mortgages are fully qualified, experienced and chosen based on their keenness to provide the best possible experience for our customers. We promise no pushy hard sales tactics and have built a strong reputation which is important as we rely heavily on referrals from our clients. We would love to hear from you and talk about your mortgage-related needs and would be pleased to discuss further the service we offer. Get in contact with us to find out more about what you can do with equity release mortgages in Bournemouth.