Who are we?
As experienced later life lending specialists, we take pride in helping our customers get the most out of their retirement.
We provide independent advice on the whole of market, so we can provide the most suitable option for your needs. We are happy to provide an initial free no obligation consultation in your home.
Our advice is fully independent and regulated by the Financial Conduct Authority (FCA).
What is equity release?
Equity release allows you to access the value held up in your home and turn it into money you can spend as you wish.
How much equity you can release depends on your age, how much your property is worth and how much you choose to borrow.
People over 55 often have little or no outstanding mortgage and lots of value tied up in their home. Many others have an interest only mortgage and no way of repaying it.
Equity release could help in either of these situations.
Our Plans
We have tried to ease the information overload in financial/mortgage planning by using two simple plans that will help you cover the areas that you may want to visit to complete your financial planning.
Silver
We can arrange an Equity Release Lifetime mortgage to help with all the financial/inspirational goals you wish to achieve, whether that be repaying an interest only mortgage, helping close family, dream holidays, Home Improvements, Garden makeovers, Care at home, re-mortgaging existing Equity Release plans for better terms, Inheritance Tax planning, Divorce settlements, it really is as flexible as this and more.
Lifetime Mortgage Planning advice is regulated and provided by TRN Adviser Ltd network.
This is a lifetime mortgage. To understand the features and risks, please ask for a personalised illustration. Check that this mortgage will meet your needs if you want to move or sell your home or you want your family to inherit it. If you are in any doubt, seek independent advice. Inheritance Tax Planning, Will writing, Lasting Powers of Attorneys, Estate Planning and Trust Planning are not regulated by the Financial Conduct Authority.
Gold
All of the benefits of the Silver Plan plus...
Estate planning that include Wills, Lasting Power of Attorney, Severance of Tenancy, further bespoke Estate Planning including Trusts (where appropriate)
The costs relating to this planning can be included in your Silver plan. Estate Planning advice is regulated and provided by TRN Adviser Ltd network.
This is a lifetime mortgage. To understand the features and risks, please ask for a personalised illustration. Check that this mortgage will meet your needs if you want to move or sell your home or you want your family to inherit it. If you are in any doubt, seek independent advice. Inheritance Tax Planning, Will writing, Lasting Powers of Attorneys, Estate Planning and Trust Planning are not regulated by the Financial Conduct Authority.
Is equity release
right for you?
Here at My Later Life Planning we will ensure that we only recommend a plan that is right for you after having taken into account all your personal circumstances. We have access to all the 500+ Lifetime Mortgage plans now available in the market place, some will be suitable some not, it is our job to get the best one for you. We will advise you in an honest and personal way that you will fully understand. We will walk this journey together for your benefit.
Please remember, all Lifetime mortgage interest rates are fixed for life.
We can also show you and can demonstrate how to keep the interest on your mortgage plan under control if you choose to do so, point out plans where no monthly repayments are required, we can build in safeguards such as guaranteeing an inheritance for loved ones. It is also our duty to advise you if we professionally believe that Equity Release is not the right thing for you.
Compare a wide range of Equity Release plans we can offer...
- Annual rates from as low as 2.97% fixed for life.
- Release up to 56% of your home's value, depending on your circumstances
- Fully qualified, expert equity release advice
- Available to homeowners aged 55 and over
- Select features to personalise your plan based on what matters to you
- All of our plans will meet the Equity Release Council standards which means they come with the no negative equity guarantee, so you can't pass on any debt through equity release to your beneficiaries
We understand that everyone's needs are different. That's why we will always personalise your equity release plan to make sure it's right for you.
How it works
Our team takes a holistic approach to retirement planning to give you a fair, unbiased and efficient way of raising the money you need.
Step 1. Have a chat with one of our advisers.
Step 2. We'll find a product that suits your needs.
Step 3. Your application is made and an independent solicitor confirms your application.
Step 4. Complete and your funds are released to your bank account.
Pros & Cons to Consider
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No monthly repayments
With a lifetime mortgage – the most popular form of equity release – there are no monthly repayments for you to make, as the loan, plus roll-up interest, is repaid when your plan ends.
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Lump sum or drawdown
Choose whether to receive your tax-free cash in one go or in stages following an initial release (only release what you currently need)
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Downsizing protection
After five years, if for any reason you need to move home, you can repay your loan in full without penalty if your new property doesn’t meet the lender’s criteria.
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Inheritance protection
You can ring-fence a percentage of your home’s future value to be passed on as a guaranteed inheritance, regardless of how much interest accrues.
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Partial capital repayments
You can make voluntary, ad-hoc repayments towards the interest and capital amount borrowed to reduce the size of the loan on which interest is charged, (limits apply)
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Medically Enhanced
If you, or any other applicant, have any health problems or make certain lifestyle choices, like smoking, you could be able to release more of your home’s value.
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Benefit Entitlement & Long Term Care
Taking equity release could result in your entitlement to means tested state benefits being reduced or removed. It can also have an affect on any funding you might receive for care services. Local authorities and the Government use your income and savings to decide if you need means tested state benefits. Equity release is also called a lifetime mortgage and allows you to borrow money against the equity held in your home.
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Pension Credit
If you receive pension credit then you also qualify for other benefits including Housing Benefit, Council Tax Reduction, Cold Weather payments and help with NHS services. You should check the impact of losing these benefits compared to your gains of receiving equity release.
Get in touch
My Later Life Planning (Office Address: 94-96 Seymour Place, London, W1H 1NB) is a trading style of My Group Inc Ltd an appointed representative of The Right Mortgage Limited who are authorised and regulated by the Financial Conduct Authority under reference number 976283.
My Group Inc Ltd is registered in England & Wales. Company Number 13613921. Registered Office 82 Rainham Road, Rainham, RM13 7RJ
A fee may be charged for mortgage advice. The exact amount will depend on your circumstances.
This is a lifetime mortgage. To understand the features and risks, please ask for a personalised illustration. Check that this mortgage will meet your needs if you want to move or sell your home or you want your family to inherit it. If you are in any doubt, seek independent advice.
Inheritance Tax Planning, Will writing, Lasting Powers of Attorneys, Estate Planning and Trust Planning are not regulated by the Financial Conduct Authority.
The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.
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