Equity Release
Advice Hull

When it comes to taking out a lifetime mortgage in Hull, any existing mortgages or loans secured on your property must be repaid.

All accrued interest must be paid along with the amount released must be repaid on death or moving into long term care.

If you decide to take out a lifetime mortgage in Hull, you will reduce the amount of equity available in your property to leave as an inheritance or to use for the payment of care fees in later life, if you need to rely on this.

Firstly, it’s good to be aware of all the options, alternatives, advantages and disadvantages of an equity release plan.

We offer all our customers a free appointment in which you can speak to one of our dedicated Later Life Mortgage Advisors who will be able to talk this through with you. Within this appointment, your advisor will explain to you the steps involved, the options available to you as well as the effect taking out a Lifetime Mortgage in Hull could potentially have on state benefits, tax and the leftover equity in your home over time.

Here at Hullmoneyman, we constantly encourage clients to involve family members or to have another trusted individual to support them through the process and be with them at the meetings.

Along with this our advisors are also very happy to work alongside any financial advisors, accountants or solicitors who are a part of your financial planning decisions.

When done correctly, Equity Release in Hull should have zero effect on your tax position or benefits. On the other hand, everyone’s circumstances differ. Therefore, a Later Life Mortgage Advisor in Hull will need to have a clear idea of your circumstances in order to provide the best advice.

With any financial commitment, as a customer, you want to have full trust and share all of our details which is why it’s important to find the right Later Life Mortgage Advisor. We feel this is something that we strive at as a company and is hugely reflective of our customer reviews.

When the appropriate plan has been identified, your dedicated later life Mortgage Advisor in Hull will give you an illustration and written recommendation, entailing what have you told us and why we have recommended you that specific plan.

From this, your later life Mortgage Advisor in Hull will then go through the recommendation with you before submitting an application to the mortgage lender.

Here at Hullmoneyman, we have a team of knowledgeable case managers who work with your later life advisor in Hull to manage the full process until completion. Throughout the process, our team will keep you updated and will be readily available 7 days a week.

We provide all initial advice for free and with absolutely no obligation or pressure to go ahead. Only if you go ahead and your case completed, do we charge you an advice fee.