What is equity release?
Equity release is a secured form of borrowing that allows you to release monies from the equity in your property whilst you continue to live in it. There is no affordability criteria and after the monies are borrowed the borrower does not have to make any monthly repayments. The monies are repaid either when the property is sold or the borrower no longer resides at the property.
To be eligible to release monies from your property on the basis of an equity release product, usually the following have to apply:
Poynton Law Limited understands that the rise in house prices over the last 20 years means that many people have a significant asset in their property but limited money to spend. Pensions are often not what people hoped for, interest rates are low on savings and household budgets are often stretched. A direct result of this is that equity release products are becoming more popular.
Poynton Law Limited aim to provide an efficient, quick and cost effective service to enable people to release equity from their home.
The owner should be over the age of 55
The property has equity in it
The property should be in England and Wales