FAQs

Do I have to worry about negative equity?

Equity Release providers provide a “negative equity guarantee”.  This is something our advisers would discuss with you to discover your thoughts and feelings about negative equity.

How much can I raise through Equity Release?

This depends on the value of the property and your age.  Get in touch with one of our advisers and we will be able to tell you how much you would be able to raise.

Will I ever have to move out of my home?

No, you have the right to carry on living in your home for the rest of your life or until you move into a retirement home.

Do I have to pay tax on the money that I release?

No, there is no tax to pay at all.

Do I have to pay any fees?

Yes, there are fees involved, a lenders arrangement fee but this can quite often be added to the advance, Solicitors fee and usually a broker fee.

How old do I have to be before I can consider Equity Release?

You have to be 55 or over.

Where can I get advice locally for Equity Release?

Money Matters FS Ltd are your Equity Release specialists.  Get in touch today to find out more

Will I need a solicitor and how can I choose one?

Yes, you will need to have had independent legal advice.  You could use your usual solicitor or we are happy to provide a list of local solicitors who can advise you.

Will I lose any state benefits that I am currently entitled to?

This depends on whether the state benefit is “means-tested”.  As part of our fact-finding process we will discuss all sources of your income and whether these could be affected should you take out Equity Release.

I live in a flat, can I still do Equity Release?

Yes, Equity Release can be done on flats.

The property is “Tenants in Common” – can we still be considered for Equity Release?

Unfortunately, not.  Equity Release lenders will only consider application for properties that are held on a “Joint Tenancy” basis. Get in touch to see if there is any other way that Money Matter can help.

I live with my spouse but the property is only in my name – can we take out Equity Release?

Yes, however it would only be in the name of the property owner, and additional declarations would need to be signed by your spouse. Please ask us if this is the case for you and we can advise you of the best way forward.

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Please feel free to contact us using our enquiry form. Alternatively, please give us a call on the following number

Money Matters FS Ltd.
5 Park Street,
Weymouth,
Dorset,
DT4 7DQ

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