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Your Home. Your Equity. Your Choice.
South Wales Independent equity release expert
Covering Porthcawl, Bridgend and the rest of South Wales
Your Home. Your Equity. Your Choice.
A lifetime mortgage gives you the freedom to decide exactly how to use the money.Â
Here are some of the most popular reasons people release equity from their homes.
Clearing an Interest Only Mortgage
Helping boost your retirement income
Carry out home Improvements
Help family financially
Buy a new Home
Treat yourself to that dream holiday
Important Information About Lifetime Mortgages:
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Equity release isn’t right for everyone, there are positives and negatives, and careful consideration is vital to ensure it is a suitable option for your individual circumstances.
Equity release may involve a lifetime mortgage or a home reversion plan. To understand the features and risks ask for a personalised illustration.
Equity release will reduce the value of your estate and can affect your eligibility for means tested benefits.
Am I Eligible for Equity Release?
Equity release is available to many UK homeowners. To qualify, you'll typically need to meet the following criteria:
Homeowner
Own your property outright or have a small remaining mortgage balance.
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Age 55+
Most equity release plans are available from age 55.
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Main Residence
The property must be where your primary residence.
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Property Equity
You need sufficient equity built up in your home.
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Suitable Property
Your home must meet the lender's eligibility criteria.
No income-based affordability assessments are usually required. The amount you can borrow is primarily determined by your age and the value of your home.
I'm interested to find out more - What do I do now?
A quick call with Jeremy is all it takes to see if a lifetime mortgage could be the right fit for you.
What information do we need from you, and how does the advice process work?
Step 1
Step 4
To begin the research Jeremy just needs to know how old you are and how much you think your property is worth.
If after discussing all the benefits and drawbacks of a lifetime mortgage you decide to go ahead the application is submitted and the valuation which is usually free is instructed.Â
Step 2
Jeremy can then work out how much you can borrow and which lender is the best option for you.
Step 5
Once the application is approved by the lender your solicitor will complete the final checks and the funds are released - the overall timescale can vary depending on the case but as a guide the whole process tends to take between 5-8 weeks for the funds to be released.
Step 3
Arrange a meeting at our offices or if you prefer Jeremy can come to you.
Equity Release is not a last resort, it's a way to help fulfil your dreams.
It could be a dream holiday, a new kitchen, a new house or helping the kids out.
The choice is yours.
How much does it all cost?
At Networth Finance, we believe in fair and transparent fees, so every client knows exactly what costs to expect.
Our adviser fees are 1.5% of the funds released and we may also receive commission or procuration fees from the provider (maximum adviser fee is £1500 and minimum adviser fee is £500). This covers the advice and processing of the lifetime mortgage. Our fees are only due once the funds have been released. Â
Solicitors fees do vary depending on the solicitor but as a general guide you should budget £500 - £700.
Property valuation fees tend to be free.
South Wales equity release expert
Important Information About Lifetime Mortgages:
Lifetime mortgages are loans secured against your home. With a lifetime mortgage, you retain ownership of your home, but the loan and interest are repaid when you pass away or move into long-term care. The amount borrowed, including interest, must be repaid when the loan becomes due. Interest on lifetime mortgages is compounded, which means the amount you owe will increase over time.
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