Can I still access equity release during lockdown?

As we enter the second national lockdown many of us are wondering what we are still able to do and what is now forbidden.

As reported by the BBC, there are big differences between the winter and summer lockdowns.

This time around you can still visit the dentist, opticians, chiropractors and osteopaths. Whatsmore, you can take unlimited amounts of exercise, so good news for the mind and the body.

When it comes to keeping your financial affairs on track, in the winter lockdown banks and post offices remain open and the mortgage market is still open for business. Good news for those people thinking of taking advantage of the stamp duty holiday.

Just like the mortgage market, it is still possible to release tax‑free cash from your home by taking out equity release during lockdown.

At Age Partnership we have advisors on hand 7 days a week to speak to any homeowners age 55 or over who are considering releasing tax‑free cash from their home.

Equity release isn’t the right solution for everyone, so our advisors will talk to you about other options that you should consider, such as downsizing to a smaller property, accessing your pension savings or looking at whether a standard mortgage may be an option.

If equity release is the correct solution for you the advisor will search the whole of the market to find the best plan for your individual circumstances from lenders such as Aviva, Legal & General, Scottish Widows and many more.

Get in touch with an advisor today to find out if you could access some of the tax‑free cash from your home in as little as 8 weeks. Call Freephone 08080 555 222.

Equity release may involve a home reversion plan or lifetime mortgage which is secured against your property. To understand the features and risks ask for a personalised illustration.

Equity release requires paying off any existing mortgage. Any money released, plus accrued interest would be repaid upon death, or moving into long‑term care.

BBC Source: https://www.bbc.co.uk/news/explainers-54793959 and https://www.bbc.co.uk/news/av/explainers-54818922