Equity Release Schemes
Equity Release is a lifetime mortgage or home reversion scheme. To understand the features and risks, ask for a personalised illustration.
Here at Equity Release Scotland, we want to give you the most variety so you can make the right choice for you. Each of these have a range of products for you to choose them. We have the following equity release schemes available Roll-Up Lifetime Mortgages, Interest Only Lifetime Mortgages, Drawdown Lifetime Mortgages, Enhanced Lifetime Mortgages and Home Reversion Plans which are detailed below. If you'd like more information, then please get in touch.
Equity Calculator
Our Equity Calculator is completely free with no obligation. With our calculator, we can work out how much you could potentially release from your home based on the value of your property and the age of you and your spouse. Click here to try it now.
Roll-Up Lifetime Mortgages
A lump stum is taken from the value of your property, which is repaid only when you pass away or move into long term care.
There are no monthly payments and any interest is added to the capital.
Interest Only Lifetime Mortgages
These are available when you release a lump sum and pay interest monthly.
There is no fixed term and the amount you borrowed is repaid when your home is sold. This is subject to affordability and is only suitable if you have a steady source of income e.g. a pension.
Enhanced Lifetime Mortgage
This is available as a roll-up cash lump sum or a roll-up drawdown lifetime mortgage.
This is based on your health and lifestyle, those with serious illness and conditions are accepted as well as those who smoke or are overweight.
Drawdown Lifetime Mortgage
A lump sum taken from the value of your property but doesn't require to be take in one lump sum, it can be released when you need it.
Having this flexibility reduces the amount of interest that is accrued as you are only charged interest on money when it has been withdrawn.
Home Reversion Plans
With a Home Reversion Plan, you can sell all or part of your homes equity in exchange for either a tax free lump sum or a series of cash payments.
If you sell all of your home then you will still be able to live in your home rent free via a lifetime lease. If you only sell part of your home then you will have a percentage of your home left to your beneficiaries.
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Equity Release Scotland is a trading style of The ER Network Ltd who is an appointed representative of Intrinsic Financial Planning Limited and Intrinsic Mortgage Planning Limited, who are authorised and regulated by the Financial Conduct Authority.