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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 £995.
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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Keith
Having pursued several other avenues and been met with unsatisfactory and unhelpful responses, we randomly selected UK Moneyman to see what advice they could offer. What a great help they have been, taking time to find the right solution for us and...
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Fantastic! Quick with no issues very professional will definitely use again in the future!!
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I loved that they were straight forward and down to earth. When money matter feel overwhelming, they came with a calm prospective. The advisors have always been relaxed and helpful, and always professional.
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Amazing people ro work with very happy with the service
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Mr.
The process was trouble free. I was happy with both the service and the product. I would recommend the company.
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Leona
very good service and information provided was clear especially for someone like me who needed guidance as a first ime buyer thank you
10 months ago
K
Excellent service and guidance all the way through the process. Leo and Lizzi were very helpful in finding me the right product.
1 year ago
Diane
Very professional and kept me informed throughout the process of securing our equity release. I would recommend them especially for those who are a little unsure of how equity release works and if it's right for them
1 year ago
Diane
Very helpful, easy to get hold of when needed! Able to answer all my questions
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Ajay
Made the process easy and understandable, presented all possible options and advised on what would be best suited for us. Always available to answer any queries or resolve any issues that arise. Would definitely use again in the future.
2 years ago
Luke
Incredibly quick, concise and professional. Regularly kept in he loop and gained all the knowledge required to be able to buy a property. Couldn't of asked for anything more and I can't thank them enough for all the help received.
2 years ago
Carol
Friendly efficient service, took their time to explain the procedure etc, I would definitely recommend them.
2 years ago
Joshua
Leo is always a pleasure to talk to. Very friendly and knowledgeable, and allows us to ask questions, no matter if we’ve asked before orbits really obvious
2 years ago
Gurjeet
Really helpful and clear.
3 years ago
Gemma
From first discussions with Tom to being passed over to Lyndsey, the whole process was easy and seamless. Everyone I have dealt with at Moneyman have been really helpful and friendly, which has helped take the stress out of applying for a...
3 years ago
Matthew
Jenny has been extremely helpful throughout the process and resolved any issues quickly. Thanks!
3 years ago
Susan
Very good service over the moon Wayne and Megan no there stuff
3 years ago
Dean
4 weeks and got my offer very good service from Wayne and Megan can not fault them
3 years ago
Anonymous
Great service
4 years ago
karan
Fantastic service. From start to finish I had everything clearly explained and the broker always had my best interest in mind. I highly recommend for first time buyers!
4 years ago
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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