Equity Release Mortgages
Free guides & videos
Our free guides and videos on Equity Release Mortgages contain all the information that anyone conducting research on their Later Life borrowing options would need. It is provided as free Equity Release information, and also includes a Free Equity Release calculator where no personal details are required.
There are also several short information videos available for you to watch. The first one explains who Ocean Equity Release are and how we are supporting our potential clients by giving free access to explanatory videos, calculators and guides to answer your Equity Release questions.
The main videos are entitled: What Equity Release can be used for, Calculate the amount you can raise, The Equity Release process, Equity Release set up costs, Modern day Equity Release mortgages, Alternatives to Equity Release and How Equity Release helped me.
We have also produced a Frequently Asked Questions & Answers section to help you in your research, which answers the most popular questions people have relating to Equity Release or Lifetime Mortgages. You can also click HERE to watch a testimonial video from one of our clients who found using the equity in her property life-changing for her and her family.
Based in South Devon, we are an award-winning Plymouth Equity Release mortgages broker offering lifetime mortgages to over 55’s in the UK.
Over the years at Ocean Equity Release, we have given hundreds of clients over the age of 55 and their families information and advice on equity release mortgages. We ensure that we answer all your questions and provide you with the information you need to make an educated decision.
We will never hassle you, and always give you the time and space needed to make your own decision. Equity Release is life-changing for some, and yet not the right decision for others. Only by getting the right information and advice on lifetime mortgages can this be discovered.
Have Questions? We've Got Answers.
An Equity Release mortgage is a type of mortgage for over 55s to enable them to release the cash (equity) in their property. The most common form of Equity Release is called a Lifetime Mortgage, these make up over 99.5% of the Equity Release market.
A Lifetime Mortgage offers a fixed interest rate for life. There are hundreds of products available, and many enable you to pay some, part of all of the interest. You are even able to pay back up to 10% of the initial capital borrowed each year if you choose to.
There is no catch with modern Equity Release. The most common form of Equity Release is called a Lifetime Mortgage. These make up over 99.5% of the Equity Release market. Equity Release has come a long way since the old days and is an overall description of many flexible products that can suit many types of client.
If you are over 55 and own your own property and are interested in finding out more, make sure you contact an advisor who is a member of the Equity Release Council.
Neither is better than the other. Both should be considered if you are looking to release equity (cash) from your property. Depending on your circumstance, one may be more suitable for you than the other. A qualified and experienced Mortgage and Equity Release Advisor will be able to guide you towards the best product for you.
If you want to take out equity release with a mortgage, you need to clear any existing secured loans such as a mortgage on your property. As an example, if you have a £50,000 mortgage on your property and you wanted to raise £30,000 using equity release, you would need to take out an equity release mortgage for £80,000.
On completion, your solicitor would repay your existing mortgage and send the remainder of the funds to you.
This is a great question, and one that many thousands of over 55s across the United Kingdom are asking themselves every year.
It is a very good idea to obtain advice from a regulated, qualified Equity Release advisor to discuss your circumstances and help you decide if equity release is a good idea for you or not. Do your research and read reviews from their previous clients to establish which advisor you would like to receive advice from.