You worked for your home - how about your home working for you?
Dear <$salutation$>
Mainly because of soaring property prices, numerous folks in the 55+ age group are substantially asset rich but, because of hikes in the cost of living and inadequate pensions provision, they are at the same time increasingly cash poor. And largely they cling to that position, wanting the fruits of their labours to pass in time to their children.
 But is this necessary? Younger generations in our society have known levels of prosperity only dreamed of in the immediate post-war period. Often they have no need of a vast inheritance, and can tell their parents ‘No. You earned it. You enjoy it.’
Equity release – unlocking the cash tied up in your property – is not new, but it has had bad publicity because of poor sales practice and unsafe advice to clients.
Now, however, regulations are in place by the FSA (Financial Services Authority) and there is also a voluntary trade body called SHIP – Safe Home Income Plans. Under the FSA code, advisers must be qualified and must conform to ethical practices in the safe selling of what is nowadays a wide range of equity release products.
Needless to say, Thompson Financial Consultants meet the new requirements – and more. The code does not, for example, oblige us to consult the children or beneficiaries of our equity release clients: after all, the money is not theirs until the benefactor dies. But to put minds at rest, we do carry out such consultations if you want us to.
 There are many reasons why you might wish to realise some of the value of your home: the cost of basic essentials, a holiday, to have a conservatory built or simply to have a better time.
Equity release can be taken either as a lump sum or as regular monthly income. We at Thompson Financial will give you the best advice on this, as on all financial matters.
Furthermore, we will examine your circumstances to establish whether your income could be supplemented instead by state benefits: you could be surprised by your entitlements!
To find out more call Mark or Danny now on 01473 828973.
We would be pleased to receive any comments or suggestions about this newsletter - just send us an email.
Your property may be repossessed if you do not keep up repayments on your mortgage.
For mortgages we can be paid by commission from the lender, or by a combination of commission and a fee of £350, or by a fee of £1,000.
Commercial mortgages are not arranged or regulated by Sesame and the FSA.
Equity Release involves selling a borrowing against your home. It may affect your eligibility to move house, and the amount of any inheritance you may leave.
Equity release refers to home reversion plans and lifetime mortgages. To understand the features and risks ask for a personalised illustration.
Thompson Financial Consulting can be paid a total fee of £1495. £695 is payable at the beginning of the second meeting, and the rest of the fee is payable on completion. We will offset any commission we receive against the total fee on completion. |
