What is Equity Release?

Equity release enables UK homeowners aged 55+ to unlock some of the equity from their home without the need to make any monthly repayments.

Equity release plans, also known as lifetime mortgages, have evolved rapidly over the last decade and there are now offer several equity release options to suit today’s discerning homeowners.

When the plan comes to an end (typically when your client passes away or moves into long-term care), then their property is sold and the loan plus roll-up interest is repaid in full. Any remaining monies are returned to their estate.

With a plan in place, your clients will be able to enjoy a wealthier retirement without having to sell and move from the home they love.

Is my client eligible?

To be eligible for an equity release plan, your clients must:

• Be aged 55 to 95
• Own a property valued over £70,000
• Live in the UK and the property must be their main residence
• Be able to pay off any remaining mortgage or secured loan with the monies released

Did you know that…

• Equity release is fully regulated by the Financial Conduct Authority.(Bower Retirement Services Limited is authorised and regulated by the Financial Conduct Authority. Financial Services Register Number: 451607).

• Your clientswill have the right to remain in their home for life, provided it remains their main residence.

• Your clients will never owe more than the value of their home.

• Your clients can still move house to another suitable property in the future, without any financial penalty.

Equity release with Bower

Equity release is usually a lifelong commitment, so it is vital your client seeks the advice of a reputable independent equity release specialist.

By referring your clients to Bower, we can ensure they receive expert guidance every step of the way, plus gain access to some of the best deals available from the entire market.

Find out why somany Introducers choose to refer their valued clients to Bower time and againby reading Why partner with us?