SOE Equity Release Mortgages
Specialist Independent Equity Release Brokers
What is Equity Release?
- Equity release allows you to access some of the tax free funds from your home.
- It could provide you with control of your later life and retirement finances.
- We provide independent advice about the benefits, drawbacks and costs of equity release.
You could be eligible if you are:
- A UK homeowner ages 55+
- With a property worth £70,000+
To see how much you could release, contact us to book an initial telephone appointment.
Our Legal Partners
Every equity release mortgage client is required to take independent legal advice.
S.O.E. Equity Release is partnered with My Home Move who have in excess of 200 solicitor firms chosen for their expertise, customer service and speed.
My Home Move will allocate a solicitor who has won a national award in property, equity release and innovation. Best of all, they will come and provide their advice & service in your home.
My Home Move has completed over 10,000 equity release mortgages and is well known for excellent client service.
You can use equity release for just about any reason
In fact, you can use equity release for just about any reason with only a few restrictions, for example making an investment.
Fund Retirement
Help out Family Members
Pay Health Care Costs
Pay Off Your Mortgage So You’ve No Monthly Payments
Make Home Improvements
Stay in Your Family Home, Thus Avoiding a Sale to Downsize
Why Choose Us?
- Highest standards of service and advice guaranteed
- Clients always come first
- We always under promise and over deliver
- We only provide advice, recommendations & arrange mortgages; we are not a sales company
- Directors have nigh on 60 years industry experience
- We are independent brokers allowing us to access the best terms specific to your requirements
- Company origins established in 1995
Important Third Party Endorsement
“I am a long term client and I have referred many clients over the last two decades; this company offers the very best advice & service and have truly enhanced my reputation with those clients I have referred. I endorse them 100%.”
Alison Lloyd
Practicing Solicitor
For Your Protection
- Directly authorised and regulated by the Financial Conduct Authority.
- Members of the Equity Release Council
- Covered by the Investors Compensation Scheme up to £85,000.00
- We have PI cover with a maximum limit of liability totalling £1,185,000.00. In fact, the restrictions placed upon us by our insurer on advice and arranging equity release mortgages far exceeds those of the Financial Conduct Authority, thus providing a secondary level of all encompassing protection for our clients.
Is Equity Release Right For You?
Rather than listen to us, & unlike our competitors, we encourage our clients to look at the very well respected and independent guide produced by Age UK. You can read the Age UK full & comprehensive guide here.
Furthermore, you can get further independent information from the Government website Money Helper here.
Our Process
- We record your full financial situation & use that as a platform for our bespoke advice.
- We will look at all you options to achieve your desired goals, not just equity release
- If equity release is not right for you, we will say so and explain why.
- We will discuss all of the options within equity release, explain the merits of each, followed by a formal recommendation. This allows you to make an all important informed choice.
- We have software that links us to all providers and schemes, thus guaranteeing you the very best terms specific to your requirements.
- Should you proceed to an application, we will provide a very detailed written report (a “Reason Why” report) which details our advice and explains the reasons behind our recommendations. This then crystalises what we are doing in our own minds, but primarily, protects you against the liability of our advice.
What Are The Pros and Cons of Equity Release?
Pros
- Tax-free cash. Unlock tax free cash from your home for virtually any reason.
- Stay in your home. Retain full ownership of your home allowing you to stay in it for as long as you wish.
- Reduced or no monthly repayments. You can make reduced or no monthly repayments with an equity release mortgage.
- No negative equity guarantee. Never owe more than your home’s value nor pass on any equity release related debt to your family.
- Portable. You have the option of porting an equity release mortgage to a new property, subject to the lender’s terms and conditions.
Cons
- The interest can build up quickly. Equity release mortgages secured against your home & are subject to compound interest, meaning the amount you owe can grow quickly.
- Reduced value of estate. Equity release will reduce the value of your estate.
- Means tested benefits. Equity release may affect your entitlement to means tested benefits.
- Long term financial product. An equity release mortgage is a long term financial product & is not designed to be repaid early. If you do, early repayment charges may apply.
- Reduced or no property equity. Equity release may leave you with limited or even little equity remaining in your property & could reduce your financial options in the future.
By far & away the biggest concern with equity release is the impact of compound interest & the effect on reducing the equity in your home
By looking at some Government data (source: Land Registry) and a specific equity release quotation, it is possible to provide a great deal of comfort and offset the worry of compound interest.
The average house price in England in January 2014 was £188,265.00.
The average house price in England in June 2024 was £298,229.00.
That’s growth of £109,964.
Assuming a male aged 75 took a lump sum of £50,000.00 (5.64% fixed for the loan term) on a property value of £200,000 & made no repayments, the initial loan plus all accrued interest at the end of 10 years is £82,960.88.
Therefore, in this example it is crystal clear that property value increases over this time frame are greater than the total interest to the tune of £27,003.12.
Whilst we cannot guarantee this in the future, this example goes a very long way to providing peace of mind.
We only recommend equity release if it’s right for you.
Receiving qualified advice before taking out equity release is mandatory, so you can be sure it’s the right decision for you.
How Much Does Equity Release Cost?
A survey fee may be applicable and is paid at time of application.
A lender fee maybe applicable and is ordinarily paid on Completion from your equity release funds.
A solicitor fee is ordinarily paid on Completion from your equity release funds.
Our broker advice fee is fixed at £995.00 and is ordinarily paid on Completion from your equity release funds. In line with a well known high street department store, we will not be bettered on our broker advice fee.
Request a call back
Discover how equity release can provide the financial freedom you need to enjoy your retirement and meet your goals.
Find Us At
Registered Office
Ladywood,
Watledge,
Gloucestershire,
GL6 0BB
Contact Us
Vikas Jain
Tel: 07944 477509
[email protected]
Simon Garling
Tel: 07771 802606
[email protected]
Akeel Hussain
Tel: 07908 717949
[email protected]
Nadine Gruber
Tel: 07719 762250
[email protected]
Joanne Hourigan
Tel: 07734 773242
[email protected]
Office Hours
Monday : 09.00 – 17.00
Tuesday : 09.00 – 17.00
Wednesday : 09.00 – 17.00
Thursday : 09.00 – 17.00
Friday : 09.00 – 17.00
Saturday : Closed
Sunday : Closed
Appointments outside of office hours by arrangement.
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