Equity Release
Equity Release Advice in Diss, Norfolk, Suffolk, Cambridgeshire & North Essex
Helping you explore your options
Unlock tax-free cash from your property without the need to move home. DG Financial Services Ltd offers expert, independent advice to help you explore your options.
What is Equity Release?
Equity release is a way to access the equity tied up in your home. It’s essentially a loan secured against your property that allows you to receive a tax-free cash sum while continuing to live there.
To be eligible, you usually need to be aged 55 or over and own your home. You can choose to receive the funds as a single lump sum or in smaller, regular amounts (known as drawdown).
The loan, including any accumulated interest, is generally settled when you pass away or move into long-term care. A key feature is that you are not required to make monthly repayments unless you choose to. If it is affordable, you can opt to make payments to cover some or all of the interest. This can help reduce the total amount owed over time and preserve more of your property’s value for your estate.
Lifetime Mortgages explained
A lifetime mortgage is the most popular form of equity release. It enables you to borrow money against your home’s value while keeping full ownership.
You will never owe more than the value of your home, as plans from providers who are members of the Equity Release Council come with a “no negative equity guarantee”. This ensures that any debt is cleared through the sale of the property and that no debt is passed on to your beneficiaries.
The amount you can release depends on several factors, including:
- Your age (and the age of the youngest applicant if it's a joint application)
- The value of your property
- Sometimes, your health and lifestyle can also be considered.
Is Equity Release right for you?
Equity release can be a suitable solution for various financial goals.
Funds might be allocated for:
- Pay off an existing mortgage and other debts
- Make home improvements or adaptations
- Supplement their retirement income
- Help family members, for example, with a house deposit
Equity release may involve a lifetime mortgage or a home reversion plan. To understand the features and risks, ask for a personalised illustration. Your home may be repossessed if you do not keep up with mortgage repayments. Equity release will reduce the value of your estate and may affect your entitlement to means-tested benefits. You must be aged 55 or over to be eligible.
What to expect when you work with us
We focus on giving you the clarity and calm you need for your estate plans:
Initial consultation
We’ll start with a confidential, no-obligation meeting to listen to your situation, understand your concerns, and identify your immediate priorities.
Financial review
Our team will conduct a thorough review of your shared and individual finances to create a complete picture of your assets, liabilities, and future needs.
Strategic plan
We will develop a clear, personalised financial plan with actionable steps, helping you move towards financial independence.
Ongoing support
As you implement your plan, we remain available to answer your questions, adjust to any changes, and provide continuous guidance.