Celtic Financial are experienced and qualified equity release specialists, which means we can provide you with independent financial advice on the best way to release equity from your home if that is a suitable option. We can help ensure you get the best possible value from releasing equity, whilst ensuring you understand the risks and the steps involved.
We are proud to have a reputation based on recommendations from our clients and always ensure we put your goals and objectives first, even if that means doing nothing.
You will lose equity in your property. The lender may sell your property if you leave it vacant for more than 12 months. If interest is rolled up it is added to the loan and compounded annually.
Robert Lewis is one of our equity release advisers and is also a qualified ‘later life’ financial planning specialist. He can draw upon significant experience, including in his role as a director trustee of NEWCIS, the largest carers support charity in Wales.
Equity release options
Lifetime mortgage: you take out a mortgage secured on your property (provided it is your main residence) while retaining ownership. You can choose to ring-fence some of the value of your property as an inheritance for your family, and can choose to make repayments or let the interest roll-up. The loan amount and any accrued interest is paid back when you die or when you move into long-term care.
To understand the features and risks ask for a personalised illustration.
Home reversion: you sell part or all of your home to a home reversion provider in return for a lump sum or regular payments. You have the right to continue living in the property until you die, rent free, but you have to agree to maintain and insure it. You can ring-fence a percentage of your property for later use, possibly for inheritance.
The percentage you retain will always remain the same regardless of the change in property values, unless you decide to take further cash releases. At the end of the plan your property is sold and the sale proceeds are shared according to the remaining proportions of ownership.
Our charge for our equity release services is a broker fee of £995, payable on completion. We may receive commission from the mortgage lender, which will be disclosed on the key facts illustration or European Standardised Information Sheet (ESIS) you will receive in relation to your recommended mortgage.