About Us
We DO NOT charge a fee for our services as we are paid a procuration fee by the lender. We offer an initial consultation to discuss your options and establish how we can assist you.
We have been helping individuals and families protect and grow their wealth since 2004. We are wholly independent and believe in creating long term relationships through a highly personalised service. We aim to be a trusted guide, available to talk to, and proactive at identifying ways to help you meet your goals.
“Pete Miller has over 17 years’ experience as an independent financial adviser, helping people achieve their retirement goals”.
Unlock Equity is independent and offer lifetime mortgages, equity release products and home reversion schemes from the whole market.
Please contact us to arrange a free initial appointment. We will help you throughout the whole process from the initial stages to the money arriving in your bank account.
Equity Release Kent – Welcome to Unlock Equity
Equity Release specialist covering Bexleyheath, Bromley, Chislehurst, Dartford, Orpington, Sevenoaks, Sidcup, West Wickham & surrounding areas.
We are proud to be a member of the Equity Release Council which promotes very high standards of conduct and practice in the provision of advice on equity release and to the characteristics of products, for your added peace of mind. Specifically, customers of Equity Release Council members enjoy three levels of protection, encompassing a structured financial advice process, the requirement and the right to independent face-to-face legal advice and product safeguards including but not limited to security of tenure and a no negative equity guarantee.
What do I need to consider?
• As well as taking financial advice, you must take independent legal advice. You have the option to instruct a legal adviser of your choice.
• Taking Equity Release may impact any means-tested state benefits you receive.
• The capital and any rolled up interest will need to be repaid from the sale of your home on the death of the last borrower, moving into residential care or other agreed life event. This may reduce the value of your estate and the amount your beneficiaries may inherit.
• Any interest that is not being paid monthly will build up on a compound basis.
• Further drawdown amounts would be at the interest rate at the time.
Costs
We do not charge a fee for the advice we will provide you. We will be paid a procuration fee by the Lifetime Mortgage provider.
Some Lifetime Mortgages have arrangement fees and survey fees, which can be added to the loan amount if required. Your legal adviser will also charge you a fee for their advice. There may also be a redemption fee levied by some lenders. All fees will be disclosed in advance of you taking out a Lifetime Mortgage.
Options available with a lifetime Mortgage:
A Lifetime Mortgage is a secured against your home like a standard mortgage. You retain full ownership of your home and any interest on the loan can be paid as you go along or rolled up with nothing to pay until the end. You have the right to remain in your property for life or until you need to move into long-term care.
You can choose to pay interest regularly if you wish, or you can choose to let the interest roll up.
Early repayment charges do not apply if you have died or move into a care home.
You can pay ad-hoc payments to reduce the debt if you wish.
Lenders who are members of the Equity Release Council fix the interest rate or cap variable rates for the life of your lifetime mortgage.
You can move to another property subject to the new property being acceptable to your product provider.
Lenders who are members of the Equity Release Council have a no negative equity guarantee.
If you do not take the maximum loan initially, you may be able to request more money later without needing financial of legal advice.
You have the right to remain in your property for life or until you need to move into long-term care.
Why you might consider a lifetime mortgage:
Clear an outstanding mortgage
To enable you to stay in your home
Top up day to day living
Paying for help around the home, including domiciliary social care
Pay off debts
Carry out essential repairs on your home
Take a dream holiday
Buy a new car or caravan
Help your family financially