Equity Release Mortgages
As you get older you might want to have a bit of extra income coming in. One solution may be to release some money from your home while continuing to live there. This is known as an equity release. Our equity release specialists will 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. This is suitable for homeowners who are aged 55 and over. This can be used to pay off your current mortgage, pay for some home improvements, or to purchase gifts for your family. Our experts will assist with the whole process, from enquiry to completion, dealing with solicitors, surveyors and any other 3rd party, to ensure the transaction is smooth and hassle-free.
There are certain aspects of borrowing on an equity release mortgage that requires careful consideration, such as the added interest to the loan and hefty early repayment charges if you wish to clear the debt early. We also have some tips you can follow to ensure that you are getting the best deal on your equity release mortgage. You should always take advice first, this could be from us because we are a mortgage broker and we only want the best for you. You should use an accredited provider, this is to ensure that you avoid pitfalls and are protected from negative equity. Borrowing in stages can be more beneficial to you rather than taking one big lump sum out of your home and having to pay more interest than if you would take smaller sums out.
You should always consider alternative options as some may be more cost-effective to you like downsizing, Either way, we are always here to help you along your journey.
At Barrett Mortgages we are able to provide a lot of different mortgages to people; These include equity release, first-time buyers, self-employed, buy to let and many more. We were founded by Darren Barrett in 2009 during some of the hardest market conditions the industry has seen. The unparalleled, clear, trustworthy, honest and upfront service offered by us has meant our business has thrived during these times when clients have needed more individual and specialist help. All staff are fully qualified, experienced and chosen based on their keenness to provide the best possible experience for our customers. We promise no pushy hard sale tactics and have built a strong reputation which is important as we rely heavily on referrals from clients.