01294 832112 info@jjmccosh.co.uk

Equity Release

If you are over 55 and have cash locked up in the bricks and mortar of your house, you can release this through Equity Release.

Sometimes, when people have paid off their mortgage and are approaching or have reached retirement, they just want to spend a little money on themselves of their families.

Equity Release is usually available to over 55s who do not have a mortgage. You can use the cash for any purpose you like – no strings attached. Some people will use it for home improvements, others for that long awaited cruise or some might use it to help a grandchild get onto the property ladder.

Desktop with a pad with the words equity release and a drawing of a house on it
Image of house beqing squeezed and money falling out the bottom signifying equity release

A professional Equity Release service

This is a specialist area for Lenders and there are only a specific number in this particular field. It’s important that you choose the right type of scheme that will suit your personal needs.

There are a variety of different types of schemes. They all involve granting a security over your property. It is very similar to re-mortgaging your house. We will work with the lender to ensure all of the documentation is completed properly and promptly.

Once you’ve signed all the paperwork, the funds will be released to you. We will send the documentation to the equity release company. They will then register the security over your house. You can then use the funds to spend on whatever you want.

Not all equity release schemes are the same

As we mentioned earlier, not all equity release schemes are the same. Most involve there being no requirement to make any payments in your lifetime. The interest is added each year on the amount borrowed on a compound basis. The total balance is paid after you’ve passed away.

There are other lifetime mortgage schemes where, during your lifetime, you pay interest only. There are also others that allow for repayment of the interest and capital during your lifetime too.

To discuss your equity release needs, call us today on 01294 832112 or send an email with your enquiry to info@jjmccosh.co.uk.

Image of a notepad saying Lifetime Mortgage indicating Equity Release


01294 832112


12 The Cross
Dalry, Ayrshire
KA24 5AB

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