© Equity Release UK 2011 Welcome To Equity Release UK Freephone 08000 855613 Here to help you. Equity Release FAQ And Myth-Buster Speak to a qualified Equity Release Advisor. Our friendly impartial advice can help you decide on the product suitable for you. You are under no obligation. AN EQUITY RELEASE PLAN WILL REDUCE THE VALUE OF YOUR ESTATE. EQUITY RELEASE WILL NOT BE SUITABLE FOR EVERYONE AND MAY AFFECT YOUR ENTITLEMENT TO STATE BENEFIT. TO UNDERSTAND THE FEATURES AND RISKS OF EQUITY RELEASE ASK FOR A PERSONALISED ILLUSTRATION. Equity Release UK is a trading style for website use only of Independent Debt Management Ltd. Independent Debt Management Ltd is an Introducer Appointed Representative to Personal Touch Finance Equity Release which is a trading style of Personal Touch Financial Services Ltd which is authorised and regulated by the Financial Services Authority. Fee statement - Personal Touch Finance Equity Release charge a fee of £995 payable upon completion of an equity release product Click on the questions below to reveal the answers.

Q. How much cash would be available to me? A. This depends on your age, property value and the type of equity release scheme. For example, an interest only mortgage will normally allow you to raise up to 75% of the property value. A Lifetime Roll Up or Drawdown mortgage will allow you to raise between 25% and 57% of the property value however the percentage will be restricted by the youngest applicant. A Home Reversion plan would allow you to sell a share in your property of between 30% and 100% in exchange for a discounted sum of money. The older you are when you take out any plan, the more you will receive. Back to questions.   Q. Can I move home in the future? A. Yes, however your new property will need to be approved by the equity release plan provider and they will have their own set of terms to be met. Back to questions. Q. Would my state benefits be affected? A. Equity Release could affect your entitlement to state benefits. Means tested benefits such as Pension Credit, Council Tax benefit and some health benefits like free prescriptions. Capital held in savings or an increased income could affect these benefits. We will tell you if taking out an equity release scheme is likely to affect any state benefits that you receive. Back to questions. Q. What happens if the value of my house changes? A. If the value of your home should fall you would be protected by a 'no negative equity' guarantee which ensures that you would never owe more than the value of your home. If house prices rise you would benefit unless you had transferred 100% of your property under a home reversion plan equity release scheme. Back to questions. Q. Will my children or grandchildren end up with debts? A. No. Any equity release scheme that we recommend will come with a 'no negative equity guarantee' so you would never owe more than the value of your home. Back to questions. Q. What happens if I want to repay my loan? A. Equity Release schemes are not designed to be repaid until the death of the last surviving borrower or exit into long term care. Early repayment charges may apply on lifetime mortgages if you repay the loan before this time. Home Reversion plans would be expensive to reverse as you would have to repay the full market value of the share of the property transferred under the scheme. Back to questions.   Q. What happens if my partner dies? A. Any equity release scheme recommended by us will give you the right to live in your home for as long as you wish. This is because we only recommend equity release schemes approved by Safe Home Income Plans. Back to questions. Q. Can I purchase a property with an equity release plan? A. It is possible to use an equity release scheme to fund the purchase of your next home, or to help fund the purchase of a second home or holiday home. Back to questions. Q. Can I release equity from a retirement property or a second home? A. Yes it is possible to release equity from a retirement home. Equity Release schemes can only be taken on your main residence however, so it's not usually possible to release cash from a second home, or a home outside of the UK. Back to questions. Q. I have already taken out an equity release plan, can I release more cash? A. Possibly. It depends on the type of equity release plan and the amount you have already released as well as the equity remaining in your property and your age. We can advise you whether a top up would be available on your existing equity release scheme or by switching your existing plan to a new equity release provider. Back to questions.   Q. How long will it take to release cash after applying for an equity release plan? A. It normally takes between 6 and 10 weeks from the application stage to completion when you will receive your capital. Sometimes it may take longer than this. Your choice of solicitor is crucial in this respect. Back to questions. Q. How will the value of my property be assessed?   A. Your property will be valued by an independent chartered surveyor to ascertain the true value of your property. The equity release provider will usually arrange the valuation by the surveyor. Back to questions. Q. How much cash would be available to me? Q. Can I move home in the future? Q. What happens if the value of my house changes? Q. Would my state benefits be affected? Q. Will my children or grandchildren end up with debts? Q. What happens if I want to repay my loan? Q. What happens if my partner dies? Q. Can I purchase a property with an equity release plan? Q. I already have an equity release plan, can I do it again? Q. Can I use equity from a retirement property or 2nd home? Q. How long will it take to release the equity in a plan? Q. How will the value of my property be assessed?

Equity Release UK for FAQ's about equity release plans, drawdown mortgages, lifetime mortgages, home reversion plans and equity release calulators