Equity Release Mortgages Hull

Clear debts. Improve your home. Enjoy a dream holiday. Help a loved one onto the property ladder. Whatever you want to do, an Equity Release Mortgage could unlock the money to pay for it.

We Make Equity Release Easier

Equity Release, sometimes referred to as a Lifetime Mortgage, Later Life Lending or an Over-55s Mortgage, is a way for homeowners aged 55 and over to unlock the value tied up in their property without having to move.

In simple terms, it allows you to borrow against the equity in your home - which is, the current market value minus any secured loans or outstanding mortgage - with the loan plus interest being repaid when you pass away, move into long-term care, or in some cases when you sell the property.

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There Are Two Main Types of Equity Release

A Home Reversion Plan

This is where you sell all, or part of, your home to a provider in exchange for a lump sum or regular payments, while retaining the right to live there rent-free for life.

A Lifetime Mortgage

A loan secured against your property that typically does not require monthly repayments. Instead, interest builds up and is repaid when the property is eventually sold. This is the most common type of equity release.

Unlocking Tax-Free Cash in Retirement

Many people use equity release to top up retirement income, pay off an existing mortgage, clear debts, or fund home improvements. It can also help cover care costs or provide financial support to family, such as helping children or grandchildren with a deposit.

You’ll usually need to be at least 55, own your home as your main residence, and have little or no outstanding mortgage. The amount you can release depends on your age, property value and health. Equity release does give you access to tax-free cash and plans often include safeguards such as a “no negative equity guarantee.” However, the loan and interest can add up quickly, which may reduce the inheritance you leave behind. It can also affect eligibility for means-tested benefits, and there may be fees or charges if you repay early.

The process typically begins with advice from a qualified specialist, who will confirm if equity release is right for you and explain the options. Your home will be valued, and you’ll receive a tailored offer. Independent legal advice is required before anything is finalised. Once completed, funds are released, usually within a few weeks.

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Meet Mark Our Adviser

Mark Thompson is here to help you decide if equity release is the right option for you. Our friendly and professional equity release adviser in Hull will answer any questions you may have and make sure you have all the facts before you decide to go ahead. Mark is focusing on over 55s lending, later life lending and equity release mortgages. Lesley is based in Hull and covers the East Riding of Yorkshire area. Mortgage Advice Bureau Later Life offer lifetime mortgage products from a carefully selected panel of providers. With competitive rates, high loan amounts and features such as no monthly repayments available, we will talk you through your options and recommend a plan based on what’s important to you.

Our expert equity release adviser will:

Discuss various options available to you
Help you through the process step-by-step
Work out how much equity you could release
Find the most suitable product for you
Do all the paperwork - you won’t need to worry about a thing

Why Choose Us for Equity Release Mortgages in Hull?

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Expert Advice

We make lifetime mortgages simple. Don’t worry about the jargon. We’ll share our knowledge and answer any questions you may have.

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Huge range of deals

Search more than 12,000 mortgages from 90 different lenders – some of which are not available on the High Street.

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Personalised service

Each mortgage is tailored to you. Our advisers can only do this by taking time to get to know you, your lifestyle and financial circumstances.

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Open & Honest About Fees

Your home may be repossessed if you do not keep up repayments on your mortgage.

Now the legal bit’s out of the way, we want to be open and honest about our fees.

To help pay the bills (and our mortgages), we may charge a fee for our mortgage advice. These do vary and the actual amount you pay will depend upon your circumstances.

Typically, our fee is 0.3% of the amount borrowed but this can rise up to a maximum of 1%.

Need to find a great deal or get expert mortgage advice? We’re here to help!

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Helped arrange a re-mortgage for us very quickly and effectively. We couldn’t have wished for a better service.Richard Nicholls, Hull

Really worked hard to get me a mortgage deal when no one else could help! Chased at every step of the process and provided excellent service.Jo Hinchley, Hull

Very down to earth, straight to the point and excellent communication. Made finding the right mortgage very comfortable.Millie Adams, Hull

Very helpful and thorough in dealing with me as a first-time buyer. Informative, and made me feel at ease during the whole process.Gary Walford, Hull

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Additional information

Mortgagehub is a trading name of Mortgage Hub Group Limited Mortgage Hub Group Ltd which is an appointed representative of Mortgage Advice Bureau Limited and Mortgage Advice Bureau (Derby) Limited which are authorised and regulated by the Financial Conduct Authority.

Mortgage Hub Group Limited. Registered Office: 10 Mount View, North Ferriby, HU14 3JG. Registered in England Number: 10181771

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