Equity Release Mortgages from MCB Financial Services
MCB Financial Services can provide the professional, impartial advice that you need to ensure that you choose the right option for your individual circumstances.
We can meet you and your family wherever and whenever it’s suitable for you.
Because of the growth in UK property values, there is every likelihood that your home is now worth significantly more than you paid for it. House prices have, on average, doubled roughly once every 8 years since 1950 – a rate that vastly outweighs the increase in income and living costs over the same period. As a result, many millions of Britons who may have reached or are approaching retirement age, now find themselves with a wealth of equity that far outweighs their savings and disposable income. Recent years have also seen big improvements to the plans on offer.
All are now fully regulated by the Financial Conduct Authority (FCA) and most feature much greater flexibility than in the past. You can maintain 100% home ownership, thereby benefiting fully from any future increase in the value of your property; there are guarantees to ensure you can never pass on debt, or ‘negative equity’, in your estate; plus you can also choose a plan that is ‘portable’, meaning you reserve the right to move home in the future. In short, equity release plans are now more flexible, more affordable and more secure than ever before.
An equity release scheme is designed to help older homeowners release some of the equity built up in their property, and enable you to tap into the value of your home without having to sell your property. These schemes are organised into lifetime mortgages and home reversion schemes, both of which need to be carefully considered before you make a decision. Extracting money from your home can have a range of financial implications, could affect your eligibility for benefits or even the value of your estate when you die.
MCB Financial Services Ltd are only able to advise on Lifetime Mortgage and not Home Reversion Schemes’
A lifetime mortgage will be secured against your home.