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How releasing equity is helping over 55s with home care costs

Male care worker serving dinner to a senior man at his home

With care costs rising an average of 57% in the past five years, an increasing number of individuals are faced with the challenge of financing long-term care needs, making equity release a potential solution.

How do we select our Equity Release Advisers?

At 55Plus, we pride ourselves on being independent later life lending specialists that act as your local experts. That means putting the needs of our customers first in everything we do – including exploring alternatives to equity release. We are proud to have cultivated a reputation that inspires trust and built a company on providing expert insight and professionalism. Everything we do is characterised by quality –thoughtfulness, care, and attentiveness to our customers’ needs. These are some of the things we look for when recruiting new advisers to join our award-winning team.

Using equity release to support later life divorce

For some divorcees and separating couples over 55, equity release is considered a reasonable compromise, as it enables both parties to access some of the equity tied up in the value of the property to fund their future living arrangements.

How do I find the ‘best’ equity release plan for me?

We all live very different lives, with varying wants and needs. This means that when it comes to releasing equity, finding the right plan for you will need careful consideration. Here’s our guide to finding the right equity release plan.

Using equity release for house buying

Whether it’s a new home or a holiday hideaway, using equity release to buy new property is a common trend for homeowners over 55. Here’s why.

Equity release: it’s still your home

One of the common myths surrounding equity release schemes is that you no longer own your home when applied. However, in reality, you will not only remain the legal owner, but you will also generally enjoy the freedoms – and responsibilities – associated with home ownership.

Equity release as a solution if you can’t pay your mortgage with rising interest rates

Stories of homeowners waking up to find that they can no longer afford their mortgage due to rising rates are becoming commonplace. Here’s how equity release can be a solution.

Making sense of the mortgage mayhem

Understanding why and how a ‘housing market crash’ has come about — and is predicted to continue — takes more than just studying the data. 55Plus Business Development Director, Adrian Johnson, has five decades of experience as a chartered surveyor and shares his perspective on the present fears around falling property valuations.

Gifting to children and family to help with the mortgage rate crisis

Two-year fixed-rate mortgages are currently rising above 6% and are expected to continue even further. This has made mortgage payments unaffordable for many homeowners, especially for first-time buyers. In a lot of cases, this has put increasing demand on parents and grandparents to support their children and family, providing the financial support they need to avoid falling into further debt, or at risk of potentially losing their homes.

Debunking the six most common equity release myths

Although equity release has soared in popularity in recent times, many people still have misconceptions about how it works. The number of products on the market has more than tripled over the years, and there are a variety of flexible features to sort through, so your options have never been more varied. This increased choice can also make for increased complexity and is one reason why equity release is still an industry in which myths abound.