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Reversion Schemes

These Equity Release schemes are where you sell all or part of your home in return for a cash lump sum which can be used for any purpose you wish. Once you have completed the Equity Release you will have the right to stay in your home rent free until you die or you move into care and you don't need to make any monthly repayments.

This type of Equity Release schemes was very popular until Lifetime mortgage Equity release schemes were introduced, but now only make up approximately 5% of the equity release market. They can be useful where people want to make sure that they leave some capital to their family as only part of the house needs to be sold to the Equity Release company. Once the applicants die or move into care the Equity Release company would sell the property to recover their share and the balance of the value of the property would then be passed onto the beneficiaries on death.

This type of Equity Release scheme can be useful for older people who want to release as much money from their house as possible as they can provide more than Lifetime mortgages in most cases. However, this type of Equity Release scheme is generally more likely to be suitable for those with higher property values who do not need the maxiumum amount available and may wish to leave money to family and friends.

Both Reversion and Lifetime mortgage Equity Release schemes can be used for inheritance tax planning. However, great care is needed when considering this option as the long term costs can often out weigh the potential tax savings.

Equity Release will reduce the value of your estate and can affect your eligibility for means tested benefits.

Inheritance Tax Planning is not regulated by the Financial Conduct Authority.


Equity Release Advice Bromley, Kent

We provide Equity Release advice in Beckingham, Bromley, in Kent. We can also provide advice to people who reside outside these areas but this will generally be telephone based.

Equity Release is a way for homeowners aged 55 and over to release money from their house to provide you with a tax free lump sum or a regular income and you won't need to make any monthly repayments. So whether you need money to help with the bills, paying off debts, helping your family, holidays or home improvements Equity Release could be the solution.

Due to the complex nature of Equity Release schemes and the number of products available, the first step is to find an Independent Financial Adviser who can advise you if Equity Release schemes are appropriate for your circumstances and then advise you on the Equity Release scheme that is most suitable. The second part of the Equity Release process requires the services of a solicitor to ensure all the legal aspects of the Equity Release transaction are carried out correctly and that you fully understand your actions.

Probitas Mortgages Ltd are authorised by the Financial Conduct Authority to give independent financial advice on equity release products. Probitas Mortgages have been working closely with their clients to provide quality unbiased advice.

Whilst any financial advice on Equity Release schemes will be provided by the Probitas Mortgages, the legal advice on the Equity Release process can be provided by one of the other practices who are independent of the financial advice.

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Equity Release Schemes Kent

Equity release schemes are a range of products which allow homeowners aged 55+ and who have little or no mortgage, to safely release some equity from their property to improve their life without having to move.

If you are under 55 we may still be able to help you raise money from you home with an ordinary mortgage or re-mortgage. If you would like to discuss ordinary mortgages please complete our online enquiry form and indicate that you are interested in ordinary mortgages and we will call you back.

“Equity release” includes home reversion plans and lifetime mortgages. To understand the features and risks ask for a personalised illustration.

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Legal Advice

If appropriate and once the initial financial advice on your Equity Release scheme has been provided by Probitas Mortgages, we can introduce you to another firm of solcitors in the Kent area so that you can be advised independently on the legal aspects of your equity release.

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