Equity Release

With house prices remaining high, many older people have tens of thousands of pounds locked up in their properties. For those who reach retirement and find living on their pension a financial struggle, equity release could provide a way to benefit from the value, the equity, they have in their property.

For many, the thought of downsizing in later life would represent a step too far; by contrast, equity release allows you to stay in your own home and familiar surroundings, whilst at the same time accessing and enjoying the wealth you have tied up in it.

Lifetime Mortgages, a form of equity release, have become an increasingly-popular way of supplementing retirement income, paying down debts, carrying out home improvements or passing capital on to younger generations.

A Lifetime Mortgage with a drawdown facility, allows you to take the cash in stages. This can be beneficial as it gives you the flexibility to tap into funds as and when you need them and interest is only charged on funds when they are drawn down.

There are several different types of equity release plan available to those aged over 55, and it’s vital to get bespoke professional advice before embarking on this course of action as these schemes can be expensive and inflexible. Releasing cash from your home reduces the value of your estate and the amount of inheritance you leave, so it’s important to discuss your plans with your family and dependants from the outset.

 

 

Think carefully before securing other debts against your home. Equity released from your home will be secured against it.

What our clients say about us

“Colin Henshaw has been our financial advisor for more than 15 years, so he knows us and our financial needs in great detail.  We consider him a friend too.  When he started Berry Wealth Management we were eager to have him continue in this role.  At Berry Wealth Management, Colin has assembled a superb team of people with great financial acumen, professionalism and compassion.  They take their time to get you know you, your family, your financial needs and worries. Their financial advice has been stellar, furthermore, it is great to see that the company is investing in a secure financial IT infrastructure, so that now I can access the team securely via my own personal financial portal.  This portal allows us to send and receive financial documentation securely from the comfort of our home.  This has been a boon during the COVID pandemic.  Hand on heart, we can sincerely recommend Berry Wealth Management.”

~ Paul Donnelly

 

“My relationship with Berry Wealth Management – approaching and post my retirement – has proved to be extremely positive and highly productive in pursuit of my financial goals. The Berry team are utterly professional, reliable and trustworthy. Their financial awareness and judgement is always impressive ; their research on my behalf has been forensic, and their selection, performance tracking and management of investment organisations is consistently thorough and extremely demanding. I am delighted that I engaged their services.”

~ Michael & Catherine Furlong

 

“I have been very pleased with the level of knowledge and experience of Berry Wealth Management. They take the time to really get to know their clients, which gives me every confidence that my financial goals are understood. They regularly provide updates, and have always been available to answer any questions or to explain options within my portfolio. Transitioning into retirement has been much more comfortable thanks to their help and guidance.”

~ David Leaney

 

“We have been advised by Colin for the past nine years. During this time, we have been extremely pleased with the indepth advice. The frequent reviews have helped us make some excellent, well-informed financial decisions. Colin has always attached an excellent element of professional tax-efficient advice coupled with caution that has comforted us in many ways. We wish that we had met Colin earlier, as we would have enjoyed more longevity of first-class financial planning advice.”

~ Keith & Joanne Hobbs

 

“Colin has been our financial adviser for nearly two decades, he has always offered a consultative approach to financial advice, and this has most definitely enabled Elizabeth and I to retire earlier. Colin also has a good selection of contacts for other areas where advice might be required, and having a trusted source for such recommendations has been invaluable. I do not like the larger companies’ impersonal approach and feel we are valued customers of Berry Wealth Management.”

~ David & Elizabeth Donnelly