Because the money raised using equity release belongs to you in the first place – You’re simply releasing it – the cash that you receive is tax-free and can be spent on whatever you like. However, if you have a mortgage secured against the property, some of the money you release must be used to pay this off.

Furthermore, with the most popular form of equity release, the lifetime mortgage, there are no regular monthly repayments to make and you continue to own 100% of your home throughout.

Here are some popular examples of how equity release could help you:

* Improve your home
* Clearing your Interest Only mortgage
* Making a one-off purchase, such as a car, caravan or holiday
* Helping family members

Find out if your qualify – If your a homeowner aged 55 or over, you could be eligible to take advantage of releasing equity from your property.

Call us today on 01227 379 860 to find out how much equity you could release.

Equity Release refers to home reversion plans and lifetime mortgages. To understand the features and risks, ask for a personalised illustration.

For Equity Release we act as introducers only.

Coombes & Wright Mortgage Solutions have access to a range of protection providers to help ensure, should the worst happen, you can keep the roof over you and your family’s head.

Life Insurance 
Life insurance gives you peace of mind that your loved ones will be provided for should you die. There are many different ways to arrange life cover and our advisors can help you find the best deals available. Life insurance ensures that in the event of death your mortgage will be repaid and the costs not passed on to your dependents or loved ones. Level term insurance provides a set level of cover for the term you choose. Decreasing term insurance covers you for the term you choose, but the level of cover decreases through the term of this policy.

Critical Illness Cover
Critical illness cover pays a cash lump sum on diagnosis of a specified critical illness and can be the solution to your financial worries at this time. For this relatively small cost, you could help your family cope for a while without income to pay household bills and debts. This type of cover will pay out a lump sum which could pay for other things like:

• Private Treatment
• Prescribed drugs not available through the NHS
• Changes to your home
• Paying off all /part of your mortgage

Only some forms of Cancer, heart attack and stroke are covered under critical illness insurance.

Income Protection
This offers customers the security of knowing that their essential repayments will be made if anything happens. For example, if you are in an accident and are unable to work for a while, a lack of comprehensive income protection cover means you will rely solely on state benefit – around £95.85 per week – which is unlikely to be sufficient to meet your mortgage repayments. This is where income protection can help as it provides a tax free monthly payment until you are able to return back to work.

Accident, Sickness & Unemployment Cover (ASU)
Accident, sickness and unemployment cover insures you against changes in your circumstances due to redundancy, disability, or illness. Usually payments are made for up to a maximum of 12 months. If you would like to be covered for longer than this you may want to consider taking out income protection. For Accident Sickness and Unemployment Insurance our advisors usually offer products based on a fair and personal analysis.

Buildings & Contents
Our advisors offer a range of competitive insurance products if you are a Homeowner, Landlord or Tenant based on a fair and personal analysis.. For your added peace of mind, our advisors can also arrange adequate contents insurance so that your belongings are covered against things like fire, theft and flood. For Buildings and Contents Insurance our advisors usually offer products based on a fair and personal analysis.

• As with all insurance policies, conditions and exclusions will apply.

Save Money
Potential savings could be made by remortgaging on to a lower rate than your existing mortgage. The chances are that if you have been with the same lender for a number of years, then Coombes & Wright Mortgage Solutions can save you money by researching a comprehensive range of mortgages from across the market.

Additional Funds
If you wish to borrow additional funds for home improvements, consolidating debts or perhaps to buy a second home or a property to let out – releasing equity in your home through a remortgage could be the solution.

Search a comprehensive range of mortgages from across the market
Coombes & Wright Mortgage Solutions can research the mortgage market to find the most suitable remortgage deal for your circumstances. With our advances sourcing systems we can search the market for mortgage deals offering the following:

Free Legal Fee’s

Free Survey’s

No Lender Arrangement Fee’s

Think carefully before securing other debts against your home. Your property may be repossessed if you do not keep up repayments on your mortgage.

Cost Of Moving 
You may move to a bigger house and require additional funds or you may downsize and lower your monthly repayments. Coombes & Wright Mortgage Solutions offer a moving cost appointment which we will help calculate what you will have available for your next purchase taking into account the following:

Estate Agency Fees

Legal Fees

Stamp Duty

Survey/Home Report Costs

Lender Fees

Should I Stay or Should I Go?
If you are moving home you can often port your existing mortgage over to your new house. Coombes & Wright Mortgage Solutions can compare this option with other mortgage deals from the mortgage market to ensure you get the best possible deal available to you.

Student Let’s

House Of Multiple Occupancy

Buy To Let Portfolio’s

Deposit
The deposit you will be required to put down for buy to let mortgage will be typically larger than a standard residential mortgage. The borrower will usually be required to put down at least 20% deposit and normally expected to own their own property.

How much can I borrow?
For buy to let mortgages lenders usually calculate how much you can borrow based on the potential rental income from the property instead of your annual earned income. The expected rental income usually must exceed 125% of your monthly mortgage payments. Coombes & Wright Mortgage Solutions can obtain an accurate borrowing figure based on investment property.

Investment
Like any investment, buy to let comes with no guarantees, but can be more reassuring for those who have more faith in bricks and mortar than the stock market. 

*Not all Buy to Let Mortgages are regulated by The Financial Conduct Authority.