Do you feel connected to your finances?

Connection is a powerful tool and essential for everyday life. According to the world famous lecturer in human behaviour Brene Brown, the absence of connection nearly always creates suffering on a multitude of different levels. In our world nowadays this suffering is overly apparent.

But how does this relate to your finances?

Feeling connected to your finances creates a sense of stability and helps you to feel safe. When you worry that you do not have the money to cover the essentials, you feel stressed and anxious, it affects your sleep and it dominates your every conversation. Having the peace to know that you can afford the life you are living is well, priceless.

What role could equity release play in creating financial security?

A Lifetime Mortgage is the most popular form of Equity release on the market nowadays and is helping many later life lenders access the wealth tied up in their properties to meet their financial needs and create the financial connectivity everyone needs.

Equity release enables the home-owner to borrow money against the value of their property whilst still maintaining ownership of their home and the right to live there for as long as they wish.

Last year a significant increase in homeowners aged 55+ chose to take advantage of this financial vehicle in order to finance the lifestyle they wanted to lead. Whether to pay back an interest only mortgage, fund home improvements or gift to a loved one, £5.5 billion of property wealth was unlocked through equity release in 2022 alone (KEY MM Q3, 2022).

The flexible features that could be available with a Lifetime mortgage have been an appealing factor for many homeowners and have improved year on year. Nowadays they can include the following:

• Fixed interest rate for the lifetime of the loan

• Right to stay in your own home for life or until you chose to leave the property (provided the property is well maintained and adheres to the conditions of the loan), you go into long term care or die.

• Ability to port the loan to a new property if you choose to move house (subject to lender requirements)

• Downsizing protection

• No Negative Equity Guarantee

• Partial capital payment options

• Options to pay back the loan in regular instalments, ad-hoc payments or allow the interest on the loan to roll-up and never pay a penny until the owner leaves the property, dies or goes into long term care.

• Inheritance protection

With so many features on offer, you can feel a greater sense of power and flexibility in how you manage your loan and the type of plan you feel comfortable taking out. Such financial connection to the back-drop of your golden years ahead is something that many have found to be so beneficial to later life living.

Advice is key

When it comes to your finances, being properly informed can help you feel more empowered which is why finding an experienced specialist is crucial if you are considering taking out Equity Release. Finding an advisor who is a member of the Equity Release Council and FCA, and who holds a solid reputation in his industry is vital.

Kevin Woods is an equity release expert who has earnt the reputation of being professional, honest and personable. He has helped hundreds of homeowners release the wealth in their properties and is always happy to offer advice to anyone wishing to do the same.

Should you wish to speak to Kevin and see if equity release is the right option for you, please contact Kevin on 01489 454545, or email kevin@latelivingnow.com for a free consultation without commitment or obligation of any kind. Connection is what matters nowadays. It could be the step you need to take to make the difference.