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Equity Release
Later life brings new choices. You may want more freedom in retirement, support for family, or simply the comfort of knowing you can use the value you have built in your home. Aspect Mortgages are here to give you clear guidance so you can explore those options with confidence.
What Is Equity Release?
Equity release is a way for homeowners aged 55 or over to access part of the money tied up in their property without selling or moving. The amount available is linked to the value of the home and your age, and in some cases health and lifestyle can also be taken into account.
There are two main routes:
The first is a lifetime mortgage, where you borrow against your home and the loan is repaid when the property is sold.
The second is a retirement interest only mortgage, where you pay the interest each month and the loan is repaid in the future. Both can give you extra funds for retirement, home improvements, or helping family.
At Aspect Mortgages we take time to explain what these choices mean for you. You will understand how much you could release, what the impact is on your estate, and how your benefits may be affected.
Our Later Life Mortgage Services
Planning for later life often raises financial questions. You may want to boost your retirement income, gift to family, improve your home, or simply enjoy life with more freedom. At Aspect Mortgages we help you explore solutions such as:
Lifetime Mortgages
A loan secured against your home that does not need to be repaid until the property is sold, usually when you pass away or move into long term care. You keep ownership of your home and continue living there for life.
Retirement Interest Only Mortgages
A type of mortgage where you pay the interest each month and the balance is repaid in the future when the property is sold. This can be suitable if you want to keep regular payments manageable while staying in your home.
Remortgaging Later In Life
Reviewing or replacing your current mortgage to release equity or secure a new deal that fits your retirement plans. This can help reduce costs or unlock funds for projects, support for family, or extra income.
Equity Release Reviews For Existing Plans
Looking at the plan you already have to check if it still works for your needs. We help you understand whether switching, updating, or keeping your current arrangement is the best step for your future.
The Equity Release Council
Aspect Mortgages is a proud member of the Equity Release Council, the body that sets the highest standards for later life lending. This membership means every lifetime mortgage we recommend includes important safeguards such as:
The no negative equity guarantee, so you will never owe more than your home’s value
The right to remain in your home for life, provided you meet the terms of your plan
Clear communication and responsible advice
All our later life advisers hold the specialist qualifications required and are listed on the Equity Release Council register. This gives you peace of mind that you are receiving guidance with your best interests at the centre.
Making The Right Choice For Today And Tomorrow
Finding The Right Balance
At Aspect Mortgages we help you decide how much to release by looking at your age, property value, health, and lifestyle. We explain what this means for your retirement income, your estate, and any impact on benefits so you can make an informed decision.Flexible And Comfortable Appointments
You choose where and how we meet, either in your own home or at our offices in Chorley. We move at your pace, answer your questions, and involve your family if you wish, so the process feels comfortable and supportive.Long Term Protection And Care
Every lifetime mortgage we recommend includes safeguards such as the no negative equity guarantee and the right to remain in your home for life. We guide you through legal advice, manage the process to completion, and stay available long after so you always have someone you trust by your side.
What Our Clients Say About Aspect Mortgages
Get the right advice — and the confidence that comes with it
Share your goals and get straight answers from a trusted adviser.
Fees
There will be a fee for mortgage advice. The precise amount will depend upon your circumstances but we estimate that it will be £495 for a residential/buy to let mortgage or £1495 for an equity release/retirement mortgage.
Important Information
Aspect Mortgages Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register (https://register.fca.org.uk/s/) under reference 305352. The FCA do not regulate Business Buy to Let Mortgages or Estate Planning.
As independent advisers we have access to the whole market, except for deals that you can only obtain by going direct to a lender. Registered in England and Wales No: 051013801. 16 St Thomas' Road, Chorley, PR7 1HR.
Your home may be repossessed if you do not keep up repayments on your mortgage.
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