Downsizing as a method for repaying a mortgage can sound like a perfect plan when the decision is years ahead.
Downsizing as a method for repaying a mortgage can sound like a perfect plan when the decision is years ahead.
With so much uncertainty in the mortgage market at present the security of knowing a borrowing rate is fixed for life can be reassuring.
There is a general feeling that at retirement we won’t need as much money as we did earlier in life.
Many people still consider Equity Release a “last resort” however an increasing number of people are choosing this route to help other family members.
A familiar concern is that rates for Equity Release borrowing are significantly higher than other finance options however this recent report shows how low rates are for retirement lending.
I speak with many clients who think that if their Interest Only Mortgage is due to end they will have to sell their home and move to be able to pay off the mortgage.
Whilst Equity Release can be used to repay debt, it can be used for so many other reasons.
It has not been previously considered to take one’s property into account when looking at how to finance retirement however this is starting to change.
Sarah Ferrell Equity Release and Mortgage Advice is a trading style of Ferrell Financial Limited is authorised and regulated by the Financial Conduct Authority.
Ferrell Financial Limited is registered in England and Wales, No. 11192749. Registered Address: 7 Clarendon Place, King Street, Maidstone, Kent, ME14 1BQ.
The information and content within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK.
The Financial Conduct Authority does not regulate on buy to let mortgages.
If you have a complaint about your adviser, or any financial advice you have received from your adviser, please the Financial Ombudsman Service http://www.financial-ombudsman.org.uk
At Ferrell Financial Limited we respect your privacy and the confidentiality of your personal information.
Sarah Ferrell Equity Release and Mortgage Advice is a trading style of Ferrell Financial Limited, which is authorised and regulated by the Financial Conduct Authority.
We collect personal information about you when you use our website, contact us about products and services, visit a financial adviser or carry out transactions with us. We collect information that is necessary for the provision of financial advice and administration of the products or services you are seeking, and for legal and regulatory purposes. We also collect and use your personal information where necessary to improve our services, our business processes, and to communicate with you. For the provision of advice we need to collect sensitive information, such as information about your health. To do this, we will ask for your consent.
We will always keep your data safe and secure, and where we share your data with other businesses to fulfil the purposes above we make sure they follow our instructions and keep your data secure. We will never sell your data, and we will not send you communications about unrelated services without your consent.
Our Privacy Notice, holds much more information about how we collect, use and share your personal information. There is also information about the rights you have over your personal data, and how to contact us if you have any questions.