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Are You Considering Equity Release for 2020 as Rates Fall to Under Three Percent

Releasing Equity is a big decision to make, and sometimes taking the leap into the unknown can be a worry. You may have only just started considering it and have a few fears and concerns about the list of benefits to releasing the money tied up in your home.

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.

Taking the plunge

Equity Release rates have recently dropped to less than 3%, so if you are considering releasing equity from your property in 2020, now is the time to start seriously looking into it so you can benefit while rates stay low. 

There were 11,419 new equity release customers in Q3 this year, 6% more than in Q2.

We’ve put together a list of some of the benefits and common concerns to think about when considering equity release.

Benefits that equity release can provide:

  • If you don’t have spare savings, an equity release could help support your pension fund
  • Funds can generate a consistent source of income
  • Can help you pay off outstanding debts or a mortgage
  • Could allow you to maintain the comfortable lifestyle you’re accustomed to
  • Enables you to stay in your own home without needing to downsize
  • Can use funds to help your children get on the property ladder
  • Pay for the home improvements you’ve wanted to do for ages
  • Take that once-in-a-lifetime holiday or take a few months out of life to travel
  • Competition is high so lenders have great offers available to choose from.

Common fears and questions we are asked by clients include:

  • When I die will my children will have reduced or no inheritance?
  • Interest rates are confusing and providers may have hidden agendas
  • I don’t want to add more payments to my expenditures
  • Could compound interest charges mean a risk of owing more than what my house is worth?
  • I don’t want to sell a percentage of my family home to a company
  • Will we lose our house if my partner or I need to be placed into a care home?
  • Will the government benefits I receive stop completely?

If you have some of these questions, speak to us about your circumstances. In most cases you won’t be affected by many of these fears.

Read more: Is Equity Release Safe?

Equity Release is becoming more popular thanks to plummeting rates

More and more over 55’s are taking out equity release plans – it is becoming a highly popular retirement choice. There are many different providers on the market, but one thing remains the same for the majority of homeowners – most get advice from a financial adviser before anything else.

Get advice from our own Darren Scott-Guinness

“When speaking to dental and medical professionals about equity release, we take them through a research and fact-finding process, as it’s a big financial decision. After seeing the positive impact it could have on their lives, and how others benefit from releasing equity in their property, they often warm to the idea and see it as a serious option.”

It’s vital to speak to a fully qualified and experienced equity release adviser. They’ll have the experience in how to make your finances and your property work harder for you by reviewing your personal circumstances and advising you on the best Equity Release product to suit you.

Unsure about Equity Release?
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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