ASSET RICH & CASH POOR?
We can help you:
* Release equity from your property – No mortgage repayments EVER.
* Guarantee against negative equity – Cash-out to do with as you wish.
* No proof of income required – No minimum or maximum age limits.
* Interest only mortgages – Competitive rates guaranteed.
These are just some of the benefits we offer and our advice is tailored to your personal needs.Call now for your FREE consultation with a fully CeMAP qualified adviser.
A Guide To Releasing Equity From Your HOME
There are several ways to do this and I have listed below captions for each method. If this is something you are considering it is recommended that you consult with a qualified adviser to discuss your particular circumstances:
Normal Mortgage – Most of you will know what this is and how it works but to recap, you and your property are assessed by a lender on the security of their investment and they either lend or they don’t. Age, income, property are all big factors in this and of course you have to make payments every month reducing your monthly budget accordingly.
Investment Backed Mortgage – Similar to a normal mortgage but instead of taking out a smaller percentage of the money tied up in the property, more is released and an investment is secured which should pay the mortgage and may even provide an additional income source on top. There are various schemes out there some promising and the world but personally I would only look at the safest options. If there is any extra money left over, great but we do not recommend this product type.
Reversion Scheme – Personally I don’t like these. You basically sell your house to the lender and they accumulate all the future equity in the house, it is very limiting on what you as a tenant can and cannot do. Thankfully I am not aware of any reversion schemes currently available in Spain.
Lifetime Mortgage – A good lifetime mortgage provider will offer a “No Negative Equity Guarantee” meaning you can never owe more than your property is worth. Rates should be competitive and get out clauses minimal. These schemes are usually only available to the over 65’s and provide a lump of money to do with as you wish. They are a lot easier to set up as it is the property that is under assessment and not income etc. The interest is added to the loan and you don’t have to make monthly payments. A good scheme ensures that the house remains yours and you are free to sell it at any time should you decide to.
Spanish Mortgages Solutions – Please feel free to contact us with any question without obligation.
