EQUITY RELEASE

Equity release is a way for people over 60 to access money locked in the value of their homes.

There are two main types of schemes - Lifetime Mortgages and Home Reversions*.

• A Lifetime Mortgage* is like an ordinary mortgage except that you don't have to make repayments every month. Instead the loan and interest is deducted in one go when you die or sell your home. The amount that you can borrow depends on your age so you should contact us for guidance on the available limits.

• With a Home Reversion* you actually sell your home (or a part of it) to a specialist company, which then allows you to live there until you die or go into care.

Remember - taking out an equity release scheme is not simply raising some cash now, but making a financial decision that will affect you for the rest of your life, which could mean many decades ahead.

We can provide you with detailed illustrations for the schemes that are available so that you can fully understand the terms and conditions. All of our providers have a no negative equity guarantee which means that your family will not be left with a debt that is greater than your property's value.

Additionally, we will undertake an assessment of any benefits that you receive (or may be entitled to) and issue you with a report detailing whether these may be affected if you go ahead with an equity release mortgage.

Make sure that you involve your family and take independent legal advice before you go ahead.

Most importantly don't be rushed into making a decision.

*This is a Lifetime Mortgage or Home Reversion Plan. To understand the features and risks, ask for a personalised illustration.