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Equity Release allows people to turn the equity that has built up in their home in to a lump sum of cash.
When you have released the cash, it’s entirely up to you what you do with it. Popular options include paying off an existing mortgage payment or any unsecured debt that may have accumulated over time, to fund any possible home improvements or modification.
As well as this, it may be something as simple as paying for a planned holiday, car payments and things like that. This is a specialist subject and it should be done right; speak to an equity release mortgage advisor in Coventry today.
More than likely, an Equity Release in Coventry will be shown in the form of a Lifetime Mortgage.
Regardless of if you have reached the end of your mortgage term or have repayments left, you go still have the option to release your equity via a Lifetime Mortgage. As long as you live in your main residence, you will be able to take this mortgage out. You do have the option to take a portion of the equity for future family inheritance, if you would like to.
Along with having the choice to make monthly payments back to the lender, a popular option is to let your interest stack up. In terms of the loan, it is only repayable once you pass away or have moved into long-term care, meaning you are unfit to live on your own. For additional mortgage advice in Coventry regarding equity release in Coventry, it is worth seeking the advice of someone who is a specialist in this mortgage area, like ourselves.
You need to be at least 55 years old to qualify. Two factors that can affect the amount of equity you can take out of your property are your age and the value of the property.
It can be helpful to seek further information regarding this topic. For more Mortgage Advice in Coventry regarding Equity Release in Coventry, get in touch to speak to a specialist Equity Release mortgage advisor in Coventry.
To understand the features and risks, ask for a personalised illustration. Equity Release may come in the form of a lifetime mortgage or home reversion plan.
A lifetime mortgage may impact the value of your estate and it could affect your entitlement to current and future means tested benefits. The loan plus accrued interest will repayable upon death or moving into long term care.
A home reversion plan involves selling all or part of your home to a plan provider in exchange for a tax-free lump sum.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The fee is up to 1% but a typical fee is £1295.
You should always think carefully before securing a loan against your property.
A lifetime mortgage will reduce the value of your estate and may affect your entitlement to means tested benefits.
Clearing existing mortgage with a lifetime mortgage may result in higher cost of borrowing.
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As first-time buyers, we had very little knowledge of the mortgage process and found it quite daunting, especially with rising interest rates and uncertainty in the property market. We’re extremely grateful to Dinah and Jo for their support and would highly recommend UK Moneyman to any first-time buyer looking for a professional, knowledgeable and supportive mortgage broker.
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As first-time buyers, we had very little knowledge of the mortgage process. We changed properties along the way, and our circumstances made the mortgage process more complex than we initially expected. Dinah and Jo were absolutely brilliant throughout. We would definitely recommend UK Moneyman to anyone looking to set up a mortgage.
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Paula and Jason have been so helpful in getting our first mortgage sorted. They were quick to answer any questions and very helpful with their advice. Thank you very much
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Leo and Lizzi were exceptionally helpful. Leo gave us great advise, not just on products available, but on things like bidding on properties, whether we were likely to be approved for more complicated properties etc. Lizzi was very communicative and thorough in processing our application, and after our first sale fell through we didn't hesitate to use UK Moneyman again. Thanks so much to Leo and Lizzi!
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I had a financial issue that I thought was pretty unique to myself. The help and solution to my financial question has been exceptional in every step of the way. A big thank you to Warren and Joe for all of your patience and technical expertise.
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The team working with my profile were amazing, I was in constant communication with them, if I emailed and rang someone responded quickly and they were able to secure my mortgage within 6 weeks from my initial meeting which saved me a lot of messing around and stress. Great service thank you
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We’ve had Elaine Tiernan as our mortgage advisor and she has helped us out so much in the process of being approved with our first mortgage. From working around our working hours to arrange phone calls and online teams meetings to being prompt to respond to our enquiries. Elaine has been nothing but helpful, professional and supportive in our journey this far and we are very grateful to have had her as our mortgage advisor. Thank you to Paula aswell for always checking up on us and ensuring the process was as smooth as possible. Natalie and Liam
13 Oct 2026
When you book a free initial appointment with our later life mortgage advisors in Coventry, we will have a discussion with you about your inheritance goals and plans.
Although equity release and lifetime mortgages are options, we will only consider them as a last resort. We believe that there might be a better alternative to your situation.
We understand that later life mortgages are important, which is why we encourage you to involve your family or any other trusted parties in our discussions.
If equity release is or isn’t the right choice for you, our later life mortgage advisors in Coventry will refer you to the appropriate services to help you with your plans.
Through our time in the mortgage industry, we have had the opportunity to help thousands of customers looking to begin their home owning journey, with many including those looking to remortgage.
With access to a large panel of lenders, as an expert mortgage broker in Coventry, we can search through 1000’s of mortgage deals. This way, we can find you the mortgage product that is suitable for your mortgage goals.
During your mortgage journey, regardless of if you are home buyer or an existing homeowner, our team will your continuous support, answering any questions. Our service goes beyond the mortgage, we can provide support in additional services, when necessary, like referring you to a reputable conveyancing solicitor.
Here at Coventrymoneyman, we have a team of mortgage advisors in Coventry who strive in providing an expert service that is friendly and supportive when you are on your mortgage journey. Our genuine reflect this level of service we provide.
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Coventrymoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Coventrymoneyman 2009–2026
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Coventrymoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Coventrymoneyman 2009–2026
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