Many people in, or approaching, retirement find themselves in a position where they are asset rich, but income poor. Although they may have repaid their mortgage, they may not have sufficient pension income and find themselves unable to enjoy their retirement. For these people, releasing the equity in their biggest asset, their home, may be an option they wish to explore, rather than downsizing to a smaller property.
What is Equity Release?
Equity Release is the name given to a range of products aimed at providing an income, a lump sum, or both, to be enjoyed as you see fit. It can help to provide you with the necessary funds to supplement your income or cover larger one off costs. It is also potentially suitable if you wish to give your family a “living inheritance”. As Equity Release may affect your entitlement to some State benefits and the value of your estate may be reduced, it is important that you seek advice from a suitably qualified adviser. We would be happy to offer a free, no-obligation meeting to discuss your circumstances and needs with one of our advisers.
Our Specialist Advisers
Prydis Wealth is a member of the Equity Release Council and has independent, specialist advisers who can recommend the most suitable solution from the equity release products available. Prydis have experts in many disciplines and take a holistic approach: we will consider your income needs, tax position, your Will, provision for long-term care should your health deteriorate, together with any inheritance you may wish to leave.
Please call our Exeter office on 01392 432431 and ask to speak to Geoff Morrey-Jones, or email email@example.com