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equity release explained

Considering Equity Release? Are you:

A UK Homeowner?
Is your property worth more than £60,000?
Aged over 55?
Keen to stay in your own home?
Looking to unlock tax free money?
Planning a comfortable retirement?

Then Equity Release could be the way of release money from your home without you having to leave it or downsize. You could spend it on home improvements, helping the family, funding your retirement or that dream holiday…..

Equity Release allows you to unlock tax free cash that is currently tied up in your home without you having to move or make a monthly interest payments. Think of equity release as a reverse mortgage whereby you use money now to do as you wish and a fixed rate of interest is attached to whatever you have taken. The interest then adds on to how much your property owes, usually on a compounding basis, and is paid back only when the last surviving applicant has died or gone into long term care.

However, having said this you can make repayments as and when you want to, within the specified limits set out by each lender. These repayments can also stop and start and increase and decrease to give you greater flexibility.

All of the Equity Release plans include two very important guarantees......

  • A guaranteed right to remain living in the property that you have released equity from, either for life or until you need to go into long term care.

  • No Negative Equity Guarantee - which essentially guarantees that the amount to repay the equity release plan on death or entry into long term care can never exceed the value of the property itself, and so no debt can ever be left behind for your beneficiaries from the equity release plan.

The amount you can borrow will depend on your property value (minimum £60,000) and your age (youngest has to be over 55). Some providers do not have a maximum age limit, so you are never too old to benefit from an equity release scheme.

We only use providers who are members of the Equity Release Council, you can see what this means here. We also cover the whole of the equity release market which allows us to find you the best solution for you and your family.

We believe at Viva Retirement Solutions that if we treat you as if you were a member of our own family – then you will receive the best possible Equity Release advice. In many cases we work alongside your family members to ensure that the equity release solution we provide is right for the whole family. As well as this we have some of the most competitive fees in the market.

Every situation is different and so we can tailor our bespoke advice using many different types of Equity Release plans to your specific situation. Find out more about mortgage types including Lifetime Mortgages here.

It is very important that we weigh up your alternative options, before deciding if Equity Release could be the right thing for you. To find out more about why people take out equity release, please click here.


What Our Equity Release Customers Say....

David took be through the equity release process efficiently and compassionately, understanding my concerns and discussing them with me. He even responded to a problem I had on the Bank Holiday. He helped me make my mind up about moving forward but I never at any time felt pressurised making the decision.

Mrs A, Liverpool 16/5/24

With David's help we have been able to release more equity, which has meant we have been able to maintain our property, and make some needed adjustments in the house, garden and lifestyle, due to health issues that have come with increased age.

Mrs M, Leicestershire 15/5/24

Dave has been upfront in all information both the positives and negatives in taking equity release from my property , and guided me through its complexities and silly bureaucracies along the way which could have delayed the release for months.

Mrs W, Liverpool 8/5/24

From the start of the process to the end, Susan displayed professionalism, approachability and a strong desire to achieve the best outcome for me. She clearly and concisely outlined all the relevant facts regarding equity release​ and ensured that these were fully understood by me before proceeding. She then worked extremely hard to get this process completed as swiftly as possible and kept me regularly updated throughout the whole process. She is very pro-active in her work and her desire to achieve the best outcome for her clients is always evident.

Mrs T, Surrey 11/4/24

Katie was very thorough in her dealings with us, ascertaining what our needs were and what our future plans were before making her recommendations based on that information. We had a very clear idea of the pros and cons and costs involved. We decided to proceed with the equity release and Katie has been there to assist throughout the process.

Mrs M, Sussex 13/3/24

At our ages nearing 80 we had little liquid assets to cover emergencies such as health costs, major house repairs like boiler, roof and external decorating. Although our income is good and guaranteed, trying to borrow for any of the above reasons is fraught…….ageist.

David has explained all the risks of Equity Release making sure we understood them before making a decision. He was thorough in his investigation of our situation. He understood our criteria on the interest rate charged……..and he achieved that. He was available at all times and ensured the processes were timely. He introduced us to Equity Law and tracked their processes. They proved to be highly professional, like David and more than met our expectations.

Private, Liverpool 7/3/24


See more testimonials here

Please contact us today to find out how we can help you release the potential in your home with equity release.  Whether it is to help the family, do some home renovations or that holiday you have always been dreaming of. The team at Viva Retirement Solutions are here to help you with your equity release goals.

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