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5-star reviews on Google
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years we have been as independent mortgage and protection brokers
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customer satisfaction for finding the best deals on the UK market
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Why Choose Ascot Mortgages

0 %
5-star reviews on Google
£ 0
total donated to various charities
0
years we have been as independent mortgage and protection brokers
0 %
customer satisfaction for finding the best deals on the UK market

What Our Clients Say About Us

5.0 Based on 145 reviews from review us onElliot E. ★★★★★ Phil Greenwood was fantastic in assisting us in getting our BTL mortgage when several other mortgage brokers were not able to, given our particular circumstances and self employed status. From starting with an initial call right through to the finish, communication was excellent and we're absolutely thrilled. Thank you, Ascot Mortgages for such a professional service.vanessa G. ★★★★★ We had great experience with Natalia. She provided prompt and excellent service throughout our house purchase process.We highly recommend Natalia for mortgage adviseFlora R. ★★★★★ I worked with Richard (Protection Adviser) for a couple of days to sort out life and critical illness insurance. Absolutely brilliant, he found me and my husband the perfect policy. Very knowledgeable and easy to get on, he definetely makes things easy to understand. Thank you for the great service provided.Debbie P. ★★★★★ Cannot speak highly enough of Ascot Mortgages who have helped me on my journey over the last seven years. They have made the dream property possible twice. Thank you to Alison, Jardelle and all the team. I am very grateful.Areti D. ★★★★★ Absolutely thrilled with the exceptional service provided by Ascot Mortgages Ltd and especially by Natalia Barry! Even though our home purchase hasn't been completed yet, we couldn't wait to share our positive experience. From the moment we reached out, their professionalism and expertise shone through, making the daunting process of securing a mortgage a breeze.Not only did Natalia navigate the intricacies of the mortgage market with finesse, but they went above and beyond by suggesting other high-quality services, including solicitors and insurance providers. This comprehensive approach is making the entire home-buying journey seamless and stress-free.Natalia took the time to understand our unique needs and financial situation, ensuring that the options presented were tailored perfectly.Communication is prompt and clear throughout, leaving us feeling informed and confident at every stage. Natalia had our best interests at heart, going the extra mile to secure a fantastic mortgage deal.We cannot recommend Ascot Mortgages and Natalia highly enough. If you're in need of mortgage assistance, look no further. With their expertise and dedication to client satisfaction, you're in the best hands possible. A huge thank you to Natalia for making our home-buying experience a dream come true!Ashley Cox 1. ★★★★★ Would 100% recommend. Myself and my partner are currently going through the mortgage process as first time buyers. Natalia Barry has dealt with our application from day one. She has always been on hand to help, informative throughout and reliable when we have had questions. She has given us several options and broken them down into simple terms to help us. Natalia has truly been exceptional who deserves every bit of credit. We certainly got lucky having her as our first mortgage consultant.Dominik S. ★★★★★ Alison and the Ascot Team are excellent. I have used them for 5 years now and they deliver the most competitive mortgage deals fast. Just what I need. Thank you!Eric T. ★★★★★ We have dealt with Ascot Mortgages twice. Once for a mortgage about eleven years ago and recently for life insurance.In both cases we were treated with the utmost respect and professionalism.In the case of the life insurance application, we considered ourselves to be problem customers because of our age and numerous health issues.Richard Johnson, who managed this application couldn't have been more helpful.He worked in our best interest and was dedicated to providing an excellent service.We were kept up to date through all of the stages of the application and when our doctors were very slow in producing medical reports for the insurance company he persisted where others might have given up.The service we had from Richard was pleasant and professional throughout some difficult stages.My wife and I have no hesitation in recommending Ascot Mortgages.Zack R. ★★★★★ Having dealt with Ascot Mortgages and Alison for many years now I can say that you wont find a more professional, knowledgeable and efficient company to help with your mortgage. Alison is patient and makes the whole process seem easy. She has the answer to any question you have and seems to genuinely care. I can not recommend enough. I am sure I will be using Ascot Mortgages for years to come.Umair Z. ★★★★★ It has been a fantastic experience to work with both Phil and Jardelle at Ascot Mortgages to secure a mortgage product for my first home. Phil made the mortgage process smooth and easy. They are professionals and know what they are doing. Very pleased with the service and communication. would highly recommend them.Hello at NLP West M. ★★★★★ I needed a buy to let re-mortgage. Ascot were efficient from start to finish. I can recommend them completely especially because they can search the whole spectrum of mortgage lenders and meet the clients needs. never waiting for staff to get back and always kept me in the loop.Onohomen O. ★★★★★ ZHOU J. ★★★★★ It has been a brilliant experience to work with both Phil and Jardelle at Ascot Mortgages to secure a great mortgage product for our next home. Given how challenging the current market is, they have done a fantastic job to meet our needs with their expertise, professionalism and effectiveness. We would highly recommend their services to whom seeks help with their property purchase.Nicholas S. ★★★★★ Fantastic service. Ellie and Jardelle were always quick to reply to any queries and very helpful throughout the process. Highly recommend!Stacey S. ★★★★★ Jason was brilliant to work with! Always on top of the transaction! Would highly recommend 👍Scott ★★★★★ Although I've not bought anything yet, they (Jason in particular) have been super helpful in my search for the right mortgage deal, whilst also giving an honest opinion during these difficult times. Would highly recommend.Sandra I. ★★★★★ Fantastic from start to finish! Natalia and Jason found me the best rate for my remortgage and they were extremely efficient! Best service I’ve ever received from a brokerage company. Thanks so much.Virmantas N. ★★★★★ Amazing service and great communication. Ellie Morgan had quickly completed all requests and over delivered all expectations.Highly recommended for those who want to get the stuff done without any delays!David W. ★★★★★ I have used ascot for 3 renewals since they done helped me with my purchase which was complicated and will continue to use them going forward. Very fair prices and very helpful and knowledgeable even with just general information.Adam B. ★★★★★ Natalia made life very easy for us when remortgaging. Third time using ascot always a breezeTaff G. ★★★★★ Ascot Mortgages have been brilliant. Easy to work with and incredibly helpful. I am always happy to recommend them. Natalia and Jason have made the whole process much easier than I was expecting. Excellent service.Daryl L. ★★★★★ We've had a fantastic experience with Natalia Barry and Jason Jones at Ascot Mortgages for our property purchases and refinancing. Their expertise, coupled with genuine care and understanding of our needs, made the process smooth and stress-free.They were consistently communicative, keeping us informed at every step. Their assistance in consolidating our protection cover was invaluable, simplifying what could have been a complex process.What set them apart was their personal touch – always polite and ready to pick up the phone for a chat. This level of personal engagement is rare and much appreciated.In short, Natalia and Jason are not just skilled professionals but also truly dedicated to their clients. We highly recommend their services to anyone in need of mortgage advice.Sarah A. ★★★★★ I have used this firm for several years and they have always been super helpful and supportive, attentive and resolved issues in really useful ways. Shout out to Alison, Ellie and Jardelle (and the team!)Georgia W. ★★★★★ We worked with Ellie to secure our mortgage and protection, and she was a dream! Being a first time buyer, I was quite clueless about the process, and in a time where mortgage rates have been quite high, she worked right til the end to make sure we were getting our mortgage at the best possible rate and was always available to answer all questions I had. Can't recommend enough 🙂Richard D. ★★★★★ js_loader

Navigating the complex world of financial planning as you approach later life can be challenging. One popular approach many people opt for in the UK is to enter into an equity release mortgage. Before deciding on this pathway, it is essential to understand what this entails, the pros and cons, and whether it suits your needs.

Written by:

Alison Gibson

Ascot Mortgage Expert

Last Updated:

28.04.2024

Written by:

Alison Gibson

Ascot Mortgage Expert

Last Updated:

28.04.2024

What is Equity Release?

Equity release refers to a financial strategy where you can access the equity tied up in your home without having to move out. Essentially, you are releasing equity in your property to obtain a lump sum of money or a steady stream of income. This strategy is generally targeted at older homeowners who have substantial equity in their homes and desire financial flexibility in their retirement years.

What Is a Lifetime Mortgage?

A lifetime mortgage is a long-term loan secured against your home’s value. Under this equity release scheme, you retain full ownership of your home while borrowing a portion of its value. The loan, along with accumulated interest, is repaid when you die or move into long-term care, usually from the sale of your home.

One critical aspect of a lifetime mortgage is the “no negative equity guarantee.” This guarantee ensures that the repayment amount will never exceed the value of your home, providing peace of mind that you won’t leave a debt for your estate.

It’s advisable to seek advice from an experienced equity release adviser to navigate the complex structures and interest rates involved.

What is a Home Reversion Mortgage?

In a home reversion mortgage, you sell a part or all of your home to a provider in exchange for a lump sum or regular income while retaining the right to remain in the property, rent-free, for as long as you live. The property’s value at the time of sale will determine the agreement terms, and you will benefit from any increase in property value when the plan ends.

What is a Home Reversion Mortgage?

The amount you can release is influenced by several factors including your age, the value of your property, and the provider’s offer terms. Generally, older applicants can release a higher percentage of their home’s value. To get a precise figure, consult with an adviser and use an equity release calculator to estimate the potential lump sum.

Is Equity Release Safe?

Safety is a paramount concern when it comes to releasing equity from your home. Regulatory bodies, such as the Equity Release Council, oversee the sector, ensuring that products meet stringent safety and operational standards. Accredited lenders are obliged to offer products that come with guarantees like the “no negative equity guarantee.” It is vital to seek advice from a professional adviser to ensure that you choose a safe and suitable equity release mortgage.

Alison Gibson

Ascot Mortgage Expert

Understanding Equity Release

What Our Expert Says...

Equity release represents a profound financial decision, allowing homeowners to unlock a portion of their property’s value whilst retaining residence. It’s an attractive option for those aiming to bolster their retirement funds or address immediate financial needs. However, like all financial avenues, it requires careful consideration. One should assess the long-term implications, potential impact on inheritance, and alternative solutions. Always approach equity release with a full understanding, ensuring it aligns with your broader financial and lifestyle goals.

How Does an Equity Release Mortgage Work?

An equity release mortgage works by allowing homeowners to borrow money against their home’s value, which is then repayable after death or when moving into long-term care. The money can be received as a lump sum or as regular payments. Interest accumulates over the loan term, but many plans offer the option to repay the interest to maintain the loan size.

Pros and Cons of Equity Release

Equity release offers several benefits, including providing a substantial lump sum of cash or a supplementary income stream in retirement. However, it also comes with its set of drawbacks, including reducing the value of your estate and potentially affecting your entitlement to state benefits.

Understanding the full implications and weighing the pros and cons with a knowledgeable adviser is a pivotal step in making an informed decision.

What Is the Minimum and Maximum Age for Equity Release?

Generally, the minimum age for equity release is 55, but this can vary between providers. There is no established maximum age limit; however, it is essential to remember that the older you are, the more you can potentially release from your home.

How Much Does Equity Release Cost?

The costs associated with equity release can be substantial and include arrangement fees, legal fees, and interest rates. It’s essential to remortgage and understand all the costs involved, including the potential for interest to compound over the long term. Engaging an adviser to explore all the financial ramifications is highly recommended.

How Do I Repay an Equity Release Mortgage?

Repaying an equity release loan can happen in several ways, including making voluntary repayments, selling your home, or from your estate after death. Generally, no repayments are required during your lifetime unless you choose a plan that allows for this.

What Happens if I Go into Care?

If you move into long-term care, the equity release plan typically comes to an end, and the loan becomes repayable. This repayment is usually facilitated through the sale of your home. It’s essential to discuss the potential scenarios with your adviser to ensure your plan aligns with your long-term care preferences.

Compare Later Life Mortgages

Comparing different later life mortgage options is crucial to finding a plan that suits your needs and circumstances. An adviser can help compare the market and find the best rates and offers available.

Is Equity Release a Good Idea for You?

Whether equity release is a good idea depends on individual circumstances, financial needs, and long-term goals. It is a significant decision involving your home, which for many is their largest asset. It would be best if you considered this route with caution, taking into account all potential implications and seeking professional advice to make an informed decision.

Equity Release Interest Rates and Charges

Interest rates and charges on equity release loans can vary greatly between providers. Understanding the different rates and how they can affect your financial situation over the long term is crucial. Ensure to work with an adviser to find a lender offering competitive rates to safeguard your financial wellbeing in the long term.

Engaging with a professional equity release adviser will provide a wealth of knowledge and advice, helping you make a decision that benefits you in the long-term. Explore your options wisely to enjoy a comfortable and financially secure retirement.

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FAQ

The minimum age for equity release in the UK is usually 55. There is no set maximum age, although some providers may impose an upper limit. Contact us whenever you’re ready, and we can discuss your unique circumstances.

The process can typically take between 6 to 8 weeks. But every situation is unique and can take longer or shorter depending on circumstances. We’re always here to guide you through the process.

Costs vary depending on the size of the loan and the provider. Typical costs include arrangement fees, valuation fees, and solicitor’s fees. We can help you understand these costs.

Typically, the loan and accrued interest are paid off from the sale of your property when you pass away or move into long-term care.

Yes, some equity release plans allow you to safeguard a percentage of your property’s value as an inheritance. If this is a concern, we’re here to help you find a solution that works for your family.

If you move into long-term care, the equity release provider may require repayment of the loan, typically through the sale of your property.

Yes, you can use the funds released from equity release to pay for care. We can help you understand how this could work for your situation.

There are two main types: Lifetime Mortgages and Home Reversion Plans. We are here to help you decide which option may be best for you.

Equity release can be a safe option for many, but it depends on individual circumstances. Providers regulated by the Financial Conduct Authority (FCA) must adhere to strict rules to protect customers.

Yes, typical fees include application, valuation, and solicitor’s fees, and possibly early repayment charges. We can help you navigate these fees when the time is right.

Ending your lifetime mortgage early could result in substantial early repayment charges. However, some plans do allow partial or full repayments.

Meet Our Team

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Considering Equity Release? Looking to secure the best deal tailored to your needs? Schedule an appointment with an equity release specialist at Ascot Mortgages today. As experienced brokers, we have exclusive access to the most competitive deals in the market. We can match you with a comprehensive selection of financial products that fit your unique circumstances. Whatever your reasons for pursuing equity release, reach out to the dedicated team at Ascot Mortgages. We’re eager to discuss your needs and provide personalized solutions. Let us help you take the next step toward financial freedom.

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