London Equity Release is a London based equity release firm providing help to Londoners over 55 secure tax free cash to help their kids, with Inheritance Tax, purchasing a second home, making home improvements, and for many other reasons. LondonEquityRelease.com provides bespoke London equity release schemes from impaired equity release, drawdown, interest only, and roll-up lifetime mortgages. The website www.londonequityrelease.com offers information encompassing all areas of equity release schemes and offers numerous reasons citizens of London might wish to improve their living standards through these schemes. Several tools like the special London equity release calculator can also be used through the website to garner more information about the products in discussion.
The FCA and ERC’s role in protecting London Equity Release Plans
The Financial Conduct Authority (FCA) is a regulatory authority based in Canary Wharf, E14. This authority provides consumer protection like the Financial Services Compensation Scheme (FSCS). The scheme compensates home owners up to £50,000 for equity release schemes should something go wrong. An additional protection in place is the Equity Release Council (ERC) who offers a code of conduct on how places like LondonEquityRelease.com should operate when discussing and sharing information on equity release. The ERC is located in Aldwych, London, WC2B 4PJ. These rules were also created as part of the SHIP or Safe Home Income Plans that launched in 1991.
The code of conduct is as follows:
• All products need to have transparency and be simple in how they are presented to consumers.
• All products under equity release must allow the consumer to remain in their main residence for the remainder of their life.
• Consumers have the right to move to a more suitable property, without incurring a financial penalty from equity release.
• The cost of lifetime mortgages and other equity release products must be stated clearly through the Equity Release Certificate, with the inclusion of the potential impact i.e. inheritance loss the estate could sustain.
• Any legal work as part of the equity release must be conducted by a solicitor and it is the consumer’s choice.
• Lastly, no consumer shall leave the estate with a debt greater than the housing value as there is a ‘no negative equity’ guarantee required on the loan.
LondonEquityRelease.com believe in providing quality services to homeowners considering equity release. The website is there to help over 55s specifically in the London borough’s to understand equity release, and a place to turn for tailor made London equity release advice.
Getting Proper Advice
At London Equity Release all advisers are based in London, working specifically for the London area, and are therefore able to help with the needs of Londoners. Advisers work to tailor any recommendations given to the exact needs of consumers, you! They know the boroughs, the landmarks & the quirks of life in the big smoke. Afterall, you need someone who understands the local concerns, best tradesmen, solicitors & finding their way to your home when conducting a meeting for your financial advice.
Whether you have decided that you wish for help with Inheritance tax, securing a second property, helping your children reach the property ladder, home improvements, extending your home, purchasing a new lease or anything else you can get it through LondonEquityRelease.com.
One important factor of their website and advice is to make certain you get the correct information about equity release and all its many types. Equity release had a bad reputation due to improper regulation in the past and quite frankly too many misunderstandings from improper online articles. London Equity Release advisers help clear away the confusion. They have requirements, standards if you will that they work to keep. Anyone at the London office will follow the company requirements to ensure you have what you need to get the best equity release plan for your personal requirements.
Types of Equity Releases Out There to Help You
Equity releases stress. And what better way to relieve the stress of living in the capital than enjoying the home equity built up after years of hard work commuting or living in the capital itself. Not only do London equity release schemes offer cash to help you pay for various things, but they are offered in different forms. The least common is the enhanced lifetime mortgage. This mortgage is beneficial to any homeowner in London with ill-health. It is also quite helpful in that you can obtain the maximum allowed equity due to your poor health whether it is cancer, diabetes, or another ailment. Discover with the impaired equity release calculator how much you could potentially release if you qualify for this mortgage option.
A greater percentage of Londoners over 55 will qualify for more mainstream equity releases such as roll-up, drawdown, and interest only lifetime mortgage products. A roll-up lifetime mortgage compounds the interest until the end of the loan. Drawdown allows borrowers to take out what they need, when they need it, rather than one lump sum. It saves on interest being accrued as it is only attached to the money used. Interest only lifetime mortgage allows monthly interest payments leaving the capital sum to be repaid at the end. As you can see there is plenty of planning, helpful tools like the impaired equity release calculator, and highly qualified team of London Equity Release advisers waiting to help you and just a Freephone call away on 0800 678 5159.