Do you need independent and professional equity release advice in Chelsea, SW3?
Are you looking for advice regarding Lifetime Mortgages or other equity release products in Chelsea, Battersea, or Pimlico? Get expert and independent FCA-regulated equity release advice today about how to release equity and the retirement mortgage options that are available to you.
Equity release mortgages (sometimes called over-55 home loans) offer an opportunity for people over the age of 55 to obtain a tax-free lump sum of money secured with a loan against your home. Our local, friendly, and independent equity release specialists have access to the whole of the equity release market, so can research from the hundreds of available equity release products and find the right one for you.
We take time to get to know you, so we can help you to make the right decisions regarding equity release. Any initial consultation is free of charge and we pride ourselves on offering a personal service, where we take as much time as you need to answer questions. Our clients are at the heart of everything we do, and we will always go the extra mile, so we can offer you the best impartial advice.
To book a consultation with our independent equity release brokers, please call now on 0203 840 5011.
Releasing equity from your Chelsea property: How has the market changed
One of the most desirable and exclusive places to live in London, Chelsea has always attracted an array of homeowners. Home to one of London’s best shopping streets, it has countless bars, restaurants, theatres, and other attractions right on the doorstep. Chelsea Football Club is also situated a stone’s throw away at the end of the Fulham Road.
If you have invested in property in Chelsea, the chances are that you will have seen the price of your home rocket over the years. If you are thinking, ‘how much equity could I release?’ then please type in a few details into our equity release calculator.
According to the property site Rightmove, in 2021 the majority of property sales were flats made an average of just over £1.46m. Terraced houses sold for an average of £4.5m with semi-detached properties fetching £10.6m. The average price in the area was £2.3m. Overall prices had grown by 10 per cent from 2020 and were down 2 per cent on the 2019 peak.
SW3 Lifetime Mortgage Advice
If you are considering equity release in Chelsea, Battersea or Kensington, there are different options available. Equity release is broadly split into two categories: Lifetime mortgages and Home Reversion Plans.
Lifetime Mortgages are available to homeowners over the age of 55 and allow you to release funds from your primary residence, second home, or a buy-to-let portfolio with no mandatory monthly repayments. As their name suggests, they are designed to run for the rest of your life. When you pass away or go into long term care, the capital borrowed plus any interest accrued will need to be repaid.
Most often the amount owed is repaid from the sale proceeds of your property. However, it can be repaid by any means that you or your beneficiaries wish.
Lifetime Mortgages are available with several different options:
- Lump-sum Lifetime Mortgage: You may choose to have a lump-sum Lifetime Mortgage, where you are given all the funds at once.
- Drawdown Lifetime Mortgage: This is when you are given an initial sum of money and you have a pre-agreed reserve facility that you can draw upon as and when it is needed. The most significant advantage of this type of plan is that it is only the funds that you have drawn upon that will attract interest.
You may also decide to pay some or all of the interest back to stop the interest from accruing. Any payments which you choose to make a voluntary. With a Lifetime Mortgage, you will always own your home.
Equity release is not always the right choice for everyone. We also have access to other financial products, including residential mortgages and retirement interest-only mortgages.
Retirement mortgages near Battersea: Why are they popular?
Our team has decades of experience in equity release and this is what they do day-in and day-out. As well as expert knowledge of the ever-growing number of products on the market, we have spoken with countless clients so we can understand their reasons for choosing to release equity.
Many people simply want to enjoy a more comfortable retirement, so they have more money for everyday costs. Other common reasons include:
- Helping family members with costs such as getting on the property ladder, educations costs, and other reasons.
- Carrying out home improvements, such as completing kitchen and bathroom renovations and extensions.
- To pay off existing mortgages or clear debt.
- To enjoy travelling more or splashing out on a once-in-a-lifetime holiday.
- Paying for care at home or private hospital treatment.
For more information on equity release, please see our FAQs.
Trusted by market-leading lenders
Appointments can be arranged in the comfort of your own home with Martin in Chelsea and the surrounding local areas including:-
