It is simply a way of raising funds from the value of your property without having to pay for it until you die or go into long term care. There are no repayments of interest or capital to make until the plan ends.

However when interest is added to the amount you owe every year this will reduce the remaining equity in your home. If you live a long time or house prices fall, there may be no equity left for your heirs to inherit.

You must be over 55years old and be a property owner. The property should have a minimum value of £75000.

Equity Release can help raise funds for numerous reasons. You may choose to repay current loans or debts, home or garden improvements, celebration of a special event or provide for grand children to name but a few. You may wish simply to generate some funds to make your retirement that bit more enjoyable.

Please see calculator across the page which will tell you how much you can borrow. It is important to get the right advice on the amount you take and there are options available to take further amounts later when needed.

Taking out Equity Release will impact on the value of your estate as the plan is repaid in the event of death. It is key to get the right advice to try and ensure that any inheritance wishes can be considered as part of your needs. Lifetime mortgages can quickly erode the remaining equity and as a result, there may be no value to pass on.

Safe Home Income Plans (SHIP) is the industry trade body that sets out standards that plans have to meet. We almost exclusively use products that meet SHIP requirements. These requirements are:

• You can live in your home for the rest of your life
• You can move home and take the plan with you (providing there is sufficient equity in the new home)
• A No Negative equity guarantee means your estate can never owe more than the value of your house
• You need to take independent legal advice

All designed to protect you the plan holder.

NO. The SHIP guarantees ensure you cannot lose your home, and that you can live in your home for the rest of your life.

There are fees involved in setting up an Equity Release Plan. The fees could include a valuation fee, solicitors fee, lender arrangement fee and an adviser fee for the advice. The level of fees depend on the plan selected and also we have special arrangements with some lenders from time to time with discounted fees.

Yes, providing the maximum amount allowed has not been reached. If it is likely further funds are required later a drawdown facility can be set up which allows further amounts to be taken without the need for further solicitors or underwriting. You only get charged interest on the amount borrowed. If drawdown is not included it is possible to apply for a further advance.

Equity Release is not right for everybody and it is important to consider all options. Equity Release can affect eligibility for state benefits and grants and can limit a customer’s options for moving house in later years. Age UK strongly recommends you seek independent legal and financial advice. Different plans in the marketplace have their own features making it vital to get the correct advice.

We can provide that specialist advice and as a well established Financial Services business we will ensure that you get the right answers. Here at Barron Financial Solutions the customer is at the centre of everything we do.