Equity Release

Equity release enables homeowners over 55 to unlock tax free cash from some of the value of their home.

Equity release enables homeowners over 55 to unlock tax free cash from some of the value of their home. The amount of money you could receive depends on your age and value of your property. To many people this gives financial freedom, the money can be spent however you wish. For example home renovations, help children step on the property ladder, supplement a pension or make that dream holiday become a reality.

There are 2 types of Equity Release Plans :

LIFETIME MORTGAGE

This is a loan secured against your home. You continue to live in your property and retain FULL OWNERSHIP. The loan is repaid when you die or need to go into long term care. The sale of property is the most common method of repayment. You do not have to make regular repayments as the interest on the loan rolls up and is settled at the same time as the loan. You have the option to make repayments if you wish.

HOME REVERSION PLAN

Unlike a Lifetime mortgage there is no borrowing involved. Money is raised by selling all or part of your home. You continue to live in your home as a tenant.

You will probably have questions to ask about the merits and downsides regarding the 2 plans, Smart Home Finance are only a phone call away from helping guide you through the details.

How Smart Home Finance can help you achieve your goals?

We are independent to the lender. We search the market of equity release providers to endeavour to find the plan which matches your wants, needs and circumstances.

In short we offer a bespoke service rather than a “one size fits all”.

Step 1

An advisor who is qualified to offer advice on equity release will speak with you.

On the information you give us they will check to see if you are eligible, at the same time listen to your needs, preferences and wants.

With the understanding of your situation they will search for the plan that is right for you.

Step 2

If you are happy with the recommendation we will help you with submitting your application to the lender. At this stage a solicitor is appointed to act on your behalf and offer independent legal advice.

The lender arranges a valuation of your home. When this is completed and the application is approved by the lender an offer of mortgage is issued to you and your solicitor.

Step 3

When you are happy with the offer the money is sent to the solicitor who will send the money to you, less any existing debt secured on property.

Use our calculator to see how much money you could release from your home.

Right to buy Mortgages

Smart Home Finance are specialists in helping local authority tenants take advantage of the governments 'Right To Buy' scheme.

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Home Mortgages

Whether you’re looking to purchase your first home as a first time buyer or are looking to move into a larger property, Smart Home Finance are here to help.

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Buy to Let Mortgages

Smart Home Finance are experienced in arranging the funding for individuals who own or intend to purchase a residential property for which they let out and receive a rental income.

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Remortgage

Smart Home Finance offer independent advice with Remortgages and are here to help if you are looking to lower your current mortgage payments, raise cash for those home improvements you have in mind.

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Equity Release

Equity release enables homeowners over 55 to unlock tax free cash from some of the value of their home.

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Homeowner Loans

Consolidate credit cards, banks loans and store cards into one affordable monthly payment or raise funds for home improvements.

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Insurance

Whether you’re buying a home, moving on or raising funds for home improvements; the insurances involved can be somewhat confusing. At Smart Home Finance we can untangle the confusion and give guidance in an easy to understand fashion.

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Secured loans representative example: If you borrow £10,000 over 10 years at an Annual Interest Rate of 6.7% (variable) you would make 120 payments of £136.60 per month. The total amount repayable will be £16,392.50 (This includes a lender fee of £495 and a broker fee of £1,495 which have been added to the loan.) The overall cost for comparison is 7.03% APRC representative.

Smart Home Finance is a credit broker not a lender.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. IF YOU ARE THINKING OF CONSOLIDATING EXISTING BORROWING YOU SHOULD BE AWARE THAT YOU MAY BE EXTENDING THE TERMS OF THE DEBT AND INCREASING THE TOTAL AMOUNT YOU REPAY.

Smart Home Finance is a credit broker and not a lender. Nothing on this website constitutes financial advice. If you need financial advice you should speak to a qualified financial advisor. This website provides information only, and the choice of product is for you alone to choose. As a broker we process the information you provide us and we may pass this onto our trusted third party lenders and brokers. All credit is subject to you being a UK resident, aged 18 or over and subject to your personal circumstances. All lenders operate responsible lending policies and as such credit is subject to status and affordability.

Rates from 1.39% APRC to 16.5% APRC are available – the highest rate is for customers with severe credit problems. Loans available from 1-30 years

TYPICAL 7.03% APRC variable.

Lowest APR at which not less than 10% of the agreements that would be entered into, highest at which credit would be provided under any of the agreements

Equity Release

Equity release enables homeowners over 55 to unlock tax free cash from some of the value of their home.

How Smart Home Finance can help you achieve your goals?

Use our calculator to see how much money you could release from your home.

Equity release calculator

Smart Home Finance is a credit broker not a lender.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. IF YOU ARE THINKING OF CONSOLIDATING EXISTING BORROWING YOU SHOULD BE AWARE THAT YOU MAY BE EXTENDING THE TERMS OF THE DEBT AND INCREASING THE TOTAL AMOUNT YOU REPAY.

Rates from 1.39% APRC to 16.5% APRC are available – the highest rate is for customers with severe credit problems. Loans available from 1-30 years

TYPICAL 7.03% APRC variable.

Lowest APR at which not less than 10% of the agreements that would be entered into, highest at which credit would be provided under any of the agreements

Calls may be recorded for training purposes. The lender and or broker may charge a fee of 0% up to 15% on your loan.