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You may be eligible to take out an equity release plan, if you are an individual who owns your home with or without a mortgage and is aged 55 or over. An equity release plan will provide you with the opportunity to release a portion of the value of your home as either a tax-free lump sum, or a number of smaller sums that are taken out over a certain amount of time.
Sheffieldmoneyman has an expert later lifetime mortgage advisors in Sheffield who can provide you with an open and honest service. We also have a friendly team of case managers who will manage your case to ensure that your plan is set up as efficiently as possible, and will provide regular and informative updates within the process.
Within your initial appointment, your designated mortgage advisor in Sheffield will have an in-depth look at your current circumstance, your past experiences, as well as your future goals. From this, they can see whether equity release in Sheffield is the most suitable option for you, or if there is a different option that would suit your situation better.
If you decide to proceed, your later lifetime mortgage advisor in Sheffield will find you the best lifetime mortgage deal for you at the moment and in the future from the whole of the market.
The two main type of equity release in Sheffield are the lifetime mortgage that is offered to those who are 55+ and the home reversion plan (this is when you sell all or part of your home).
Both types of equity release plans, lifetime mortgages and home reversion plans, are regulated by the Financial Conduct Authority.
For those looking to raise money to help children or grandchildren, repay existing mortgages or other debts, fund home renovations or boost your retirement income to manage in the current cost of living, we have expert mortgage advisors in Sheffield who can provide a helping hand through the process.
With a lifetime mortgage in Sheffield, you can release tax-free money from the value of your home. Furthermore, you will have full ownership of your home and stay there for the rest of your lifetime. Usually, a lifetime mortgage in Sheffield is repaid when your home following your death or by going into long term care (with two borrowers this applies to the last surviving member).
In recent years, lifetime mortgages in Sheffield have become more adaptable with options like voluntary payments, monthly interest payments and moving your mortgage to a different property. For further mortgage advice in Sheffield regarding equity release in Sheffield, we do recommend you seek advice of an expert in this topic.
To understand the features and risks, ask for a personalised illustration. Equity Release may come in the form of a lifetime mortgage or home reversion plan. A lifetime mortgage may impact the value of your estate and it could affect your entitlement to current and future means tested benefits. The loan plus accrued interest will repayable upon death or moving into long term care.
A home reversion plan involves selling all or part of your home to a plan provider in exchange for a tax-free lump sum.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The fee is up to 1% but a typical fee is £995.
You should always think carefully before securing a loan against your property.
A lifetime mortgage will reduce the value of your estate and may affect your entitlement to means tested benefits.
Clearing existing mortgage with a lifetime mortgage may result in higher cost of borrowing.
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I had the pleasure of working with Jason from Sheffield Moneyman, and I couldn't be more impressed with the experience. From the very beginning, Jason was incredibly professional, knowledgeable, and patient. They took the time to explain every step of the mortgage process, making sure I fully understood my options and helping me choose the best loan for my situation. What really stood out was how responsive and available they were, always answering my questions quickly and thoroughly, no matter how small they were. The entire process was seamless, and I felt supported the entire way through. Thanks to Jason, I was able to secure a great mortgage rate and close on my dream home without any issues.
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I had a very positive experience working with Jason from Sheffieldmoneyman. His professional approach, coupled with his in-depth knowledge of the financial process, was invaluable. He provided clear and comprehensive guidance, proactively offered tailored advice, and ensured I was consistently informed. I would highly recommend Sheffieldmoneyman to anyone seeking reliable and expert financial assistance.
27 Feb 2025
When you schedule a free initial mortgage appointment with our laterlife mortgage advisor in Sheffield, we will engage in a thorough conversation regarding your objectives and strategies concerning inheritance.
While equity release and lifetime mortgages remain viable options, we consider them as last-resort solutions. Our belief is that there might exist a more suitable alternative tailored to your specific circumstances.
Knowing the significance of later life mortgages, we strongly encourage you to involve your family members or other trusted individuals in our discussions.
In the event that equity release is determined to be either suitable or unsuitable for your needs, our knowledgeable later life mortgage advisors in Sheffield will direct you to the appropriate services that can further assist you in devising your plans.
Following on from your free equity release and lifetime mortgage advice appointment, our team will search for the most appropriate lifetime mortgage deal in Sheffield that matches your current financial situation and how you anticipate this changing in the future.
Throughout the full process, our team will be there to provide a helping hand. With our knowledge and support, we aim to get you through the mortgage journey and make it as stress free as possible.
Our team work hard in overcoming any unexpected mortgage hurdles that we may encounter. We love being constantly challenged even when the case becomes difficult. We provide a tailored service where we have your best interest at heart.
As mentioned, we encourage clients to have their family members a part of the process and we will always adapt to client’s request and needs if we possibly can.
We strive in providing open and honest whole of market mortgage advice in Sheffield for our valued older customers.
Through our time as an expert Mortgage Broker in Sheffield, we have helped a plethora of customers through the mortgage journey.
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Sheffieldmoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Sheffieldmoneyman 2009–2026
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Sheffieldmoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Sheffieldmoneyman 2009–2026
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