Equity Release
Equity Release Adviser in Eastbourne, Sussex, Kent & UK
Equity release lets homeowners aged 55 or over take money from the value of their home without having to move out. It is a big decision, it is not right for everyone, and it needs careful advice.
We explain how equity release works and look at the alternatives. We can include your family in the conversation if you want. Based in Hailsham and Eastbourne, we advise homeowners across the Eastbourne, Brighton and Tunbridge Wells areas of Sussex and Kent, and can help families elsewhere in the UK.
Who this is for
- Homeowners aged 55 or over who want to access money tied up in their home.
- People who want to boost their retirement income.
- People who want to pay off an existing mortgage and stop monthly payments.
- Homeowners who want to pay for home improvements or care.
- People who want to help children or grandchildren during their lifetime.
When equity release may not be the right answer
Equity release is not always the right route. Alternatives can include downsizing, a retirement interest-only mortgage, using savings or investments, or help from family. We look at these with you first, and tell you if equity release does not look right.
Unlock the Value in Your Home
At Coastline Financial, our equity release advisers specialise in providing expert advice to help homeowners, aged 55 and over, access the value locked in their property.
With guidance from equity release advisers, you can release tax-free cash.
Equity release will reduce the value of your estate and can affect your eligibility for means tested benefits.
We support individuals like you across Eastbourne and Brighton in Sussex, Tunbridge Wells in Kent and throughout the UK.
What Is Equity Release?
Equity release lets homeowners aged 55 or over take money from the value of their home without selling it. As experienced equity release advisers, we know this cash injection as a popular choice for:
- Supplementing your retirement income
- Funding home improvements
- Supporting family members
- Legacy Planning
Types of Equity Release Plans
Lifetime Mortgage
A lifetime mortgage is the most common option that our equity release advisers are engaged to assist with. It’s a loan secured against your property that allows you to access cash while retaining ownership of your home. Interest is usually added to the loan, and the loan is repaid when the last borrower dies or moves into long-term care.
Key benefits of a lifetime mortgage:
- Keep full ownership of your home
- Some plans let you make payments or part repay, subject to the plan terms
- The loan and interest are usually repaid from the sale of the home when the last borrower dies or moves into long-term care
Home Reversion Plan
With a home reversion scheme, you sell all or part of your property to a provider in exchange for a lump sum or regular payments. Your equity release adviser will explain that this means you continue to live in your home rent-free as a tenant.
Key benefits of a home reversion plan:
- The right to stay in your home for life or until you need long-term care, as long as you meet the plan terms
- No monthly repayments
Is Equity Release Right for You?
Our equity release advisers will consider:
- How much cash you can release
- The impact on inheritance
- Alternative financial solutions
Benefits of Equity Release
- Tax-Free Cash: Access funds without paying tax on the money released.
- Stay in Your Home: Continue living in your property while benefiting from its value.
- Flexible Spending: Use the funds for retirement, renovations, or to support loved ones.
Equity release can still affect your benefits and what you leave to others. See the Important information below.
How it works
Our process, in plain steps:
- Step 1: An initial chat, by phone or in person, so you can ask questions with no obligation.
- Step 2: We gather the facts: your age, your home, your finances, your family and what you want to do with the money.
- Step 3: We look at your options, including alternatives to equity release, and the effect on your benefits and your family.
- Step 4: We give you a written recommendation and a personalised illustration. Take your time and talk it through with your family.
- Step 5: You must take independent legal advice from a solicitor before you go ahead.
- Step 6: We help you apply, and keep in touch through to completion and afterwards.
Common mistakes we help you avoid
- Not telling your family, who may be affected later.
- Taking more money than you need.
- Not looking at alternatives such as downsizing or a retirement interest-only mortgage.
- Not checking how it affects means-tested benefits.
- Taking all the money at once when a smaller amount, or drawdown in stages, would build up less interest.
- Not checking that the provider follows the Equity Release Council standards.
- Not taking independent legal advice, which is required.
How the interest works
With a lifetime mortgage, the interest is usually added to the loan each month, and then interest is charged on that too. Because of this, the amount you owe can grow quickly over time. Some plans let you pay some or all of the interest to slow this down. There may be early repayment charges if you repay early.
Why choose Coastline Financial?
We work with homeowners and their families, offering:
- Independent financial advice with specialist mortgage and later life expertise, so one firm can look at your housing, pension, savings and estate together.
- We are not restricted to any provider, so we can compare equity release plans across the market, along with the alternatives.
- A lifelong, personalised financial planning service covering pensions, investments, protection and estate planning. We work with your solicitor and accountant, so your later life plan fits together.
- We are members of the NACFB and offer commercial mortgages, bridging and development finance as a specialist suite of commercial property finance services. This helps if you also own other property.
- Real-world experience: as a property investor and developer, Adam understands property and how it fits into later life planning.
- Highly qualified advice: the person advising you is Adam Robinson, MD. The London Institute of Banking & Finance (LIBF) accredits him as a financial adviser, and he has been awarded the highest level of mortgage advice qualification by the Chartered Insurance Institute (CII). This is useful when your home is part of the plan.
- A dedicated team across administration, paraplanning and compliance. Meanwhile, you deal directly with Adam throughout.
- Rated 5.0 on Google reviews.
What clients say
“From start to finish Adam Robinson has been 10/10. Very flexible and helpful. He has gone above and beyond, we would (and have!) recommended him. Thank you Adam for helping us build our future!”
MR, Eastbourne, East Sussex, UK
Frequently asked questions
What is equity release?
A way for homeowners aged 55 or over to take money from the value of their home without selling it. The two main types are a lifetime mortgage and a home reversion plan.
How much can I release?
It depends on your age, the value and type of your home and your health. As a rule, the older you are, the more you can usually release. We give you a personalised illustration so you can see the numbers.
Will I still own my home?
With a lifetime mortgage, yes: you keep ownership and the loan is secured on your home. With a home reversion plan, you sell all or part of your home to the provider, so you no longer own that share.
What happens when I die or move into long-term care?
The home is usually sold and the loan and interest are repaid from the sale. If there is money left, it goes to your estate. Plans that follow Equity Release Council standards include a no negative equity guarantee, so you or your estate will not owe more than the sale value of the home. Check the provider’s terms.
Will equity release affect my benefits?
It can. The money you release may reduce means-tested benefits, such as Pension Credit or Council Tax Reduction. We check this with you.
Can I make payments or repay early?
Some plans let you make payments to cut the interest build-up, and some allow repayment of part of the loan. Early repayment charges may apply. It depends on the plan.
Can I move house if I have equity release?
Many plans let you move to another property, if the new property is acceptable to the provider. Check the terms of your plan.
Is equity release regulated?
Yes. Advice on and sales of equity release are regulated by the Financial Conduct Authority. You should use an authorised adviser, and you must take independent legal advice.
Important information
- To understand the features and risks of equity release, ask for a personalised illustration.
- Equity release may involve a lifetime mortgage or a home reversion plan secured on your home.
- A lifetime mortgage is a loan secured on your home. Interest is usually added to the loan, so the amount you owe grows, and this will reduce the value of your estate and what you can leave to others.
- Equity release may affect your entitlement to means-tested benefits, now or in the future.
- With a home reversion plan you sell all or part of your home, usually for less than its market value, and you no longer own that share.
- Early repayment charges may apply. You must take independent legal advice before going ahead.
- Your home may be at risk if you do not keep to the terms of the plan, for example by not maintaining the property.
- This page explains equity release in general terms and is not personal advice.
Where we work
Coastline Financial is based in Hailsham and Eastbourne. We meet clients in person, or speak by phone, and we are happy for family members to join. We help homeowners in Eastbourne, Brighton, Tunbridge Wells and across Sussex and Kent on a regular basis, and further afield across the UK.
Talk to us
Thinking about equity release? Talk to us first, with no obligation. You are welcome to include a family member.
Call 01323 335099, email info@coastlinefinancial.co.uk or use the contact form to get in touch or book a call.