Equity Release for Senior Citizens

More and more older people are turning to equity release mortgages to enable them to free up some of the value in their properties. And as the population continues to get older, and property continues to increase in value, this trend is certain to continue.

Thousands of older people are asset rich but cash poor. If you have a substantial amount of money tied up in your main asset that you want to get your hands on, you could always sell up and buy a smaller home. But many older people would rather not sell the family home.

 

         

Equity Release Mortgages: A Sensible Solution?

Eequity release mortgages can offer a sensible solution for the over 55s who want to supplement their income in retirement, fund home improvements, or simply pay for the holiday of a lifetime, for example.

Equity release has been around for a while, but many consumers have been wary about it in the past. Now, however, lifetime mortgages are regulated by the Financial Services Authority (FSA) and reversion scheme regulation is introduced in April 2007.

 

How Equity Release Mortgages Work

Equity release mortgages can provide you with a regular income, or a cash lump sum. In return, you take out an interest-free loan which is paid off when the property is sold on your death. Or you can choose to sell a proportion of your home in return for the money. The first type of equity release mortgage is known as a lifetime mortgage, while the second is called a reversion scheme.

 

Pros and Cons of Equity Release Mortgages

• + Allows you to free up cash.
• + Increased competition means interest rates are falling.
• + Enables you to stay in your own home.
• + Can cut the inheritance tax bill faced by your estate.
  
  
• - A big commitment.
• - Will reduce the inheritance you leave your family.
• - Can impact on State benefits.
  
  

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SHIP - Lifetime Mortgages

Your retirement should be the time to enjoy the fruits of years of hard work.  A Shared Home Investment Plan brings those fruits within your reach.

Lifetime Mortgages
Lifetime Mortgages are provided by Seniors Finance Ireland Limited which is a wholly owned subsidiary of Shared Home Investment Plan p.l.c. (S.H.I.P.) Please note that the information contained within this brochure is accurate at the time of printing (August, 2006) and is subject to change without notice. Lifetime Mortgages are subject to eligibility criteria and terms and conditions apply. If you have any questions or would like additional information please call us on 1890 60 70 80 or contact your broker.

S.H.I.P. offers two types of Lifetime Mortgage. Under each type there are no monthly repayments to be made and interest simply accumulates for life.

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Dear Broker,
A hugh emerging market in Ireland is Equity release for Senior Citizens.

To to help you gain access to writings more business We are offering the
Broker another Lender "Seniors Money".

 

       

 

With no work to do on your end its a very attractive package
Referring Business is Simple..........

Log on to www.seniorsmoney.ie

1. Go to Broker Login
2. Enter User Name
3. Enter your password
4. Complete Lead Referral Form

Track the lead status.....Find out more....

 

 

 

For more information call 1850 700 777.