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Building and protecting your wealth

Equity Release Continues to Be Popular with 8% Rise in Q3

Many medical and dental professionals slog through their working careers to save up enough in their pension funds to live comfortably and enjoy retirement. Alternatively, your money might be tied up in your property. If you find that you need extra cash to pay debts or for a big expense, equity release could be your option to provide some financial security for you in later life.

This article does not constitute advice. Professional advice should be taken prior to acting on any part of it. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.

Why is equity release so popular right now?

For people aged 55 and over, you can release equity from your property without having to move or add any more monthly costs. Close to £1bn was released through equity release plans in Q3 of this year, providing £988m against £911m in Q2, an 8% rise according to the Equity Release Council.

New Equity Release customers grew by 6% in Q3 – bringing an extra 11,419 customers into the market – increasing the number of new customers in 2019 to over 33,000.

Benefits an equity release can provide

There are many financial reasons for needing to release equity, such as:

  • money for the holiday of a lifetime
  • to pay off outstanding debt
  • to help fund your children or grandchildren’s education or the start of their property empire
  • your retirement savings are dwindling at a rapid pace and you need more cash in the bank.

One main point we recognise is that having to move from a neighbourhood you know well can be devastating. Through equity release you can remain in your home without having any extra payments added to your living costs.

Be aware of the rogue traders out there

There are now almost 290 products in the market that offer an option to release equity on your property so it’s essential that you work with a reputable broker that you can trust and who is experienced in equity release. They can make sure that you choose the right plan for your situation as there are a lot of variables to factor in when considering an equity release on your property.

Read more: Beware Rogues Targeting Equity Release Market.

Plan for the future

As we near the end of the year you’re likely starting to think about your 2020 plans, and if being smarter with the wealth held in your property is on your wish list, then schedule a call without equity release expert,  Darren Scott-Guinness to discuss your options.

You can ask our specialists anything about your finances

We are happy to talk to you about any financial planning questions you may have.

Dental and Medical Financial Services is a proactive firm of independent financial and mortgage advisers, always looking to get you the best rates and achieve the greatest savings. We benefit from having access to the broadest choice of products and above all, we offer you a committed service. With proactive and ongoing attention to your finances you can maximise your financial and tax position.

Speak to Darren Scott-Guinness, our qualified equity release specialist to find out if this route is the best one for you.

Need expert equity release advice?
Investments | Financial Planning | Retirement | Save Tax | Protection |

Dental & Medical Financial Services have been helping doctors and dentists to build and protect their wealth, whilst saving tax for over 25 years.
Call Darren to discuss your options.

Tel: 01403 780 770


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