Please (Equity) Release Me, or Let Me Go? Best Tips for Both Options

Welcome to our second Aspect blog and thank you for some lovely comments, questions and introductions in response to our first (and our lovely fresh website!). If you’re off on holiday or enjoying family activities, we hope you’re having a brilliant time. We know that many of you will be more consumed by curtains and completion than flip-flops and frisbees, so to help everyone keep their cool, here are our top summer home-moving tips:

Is It Just Me, or is Everyone Doing It?

August is the most popular month to move house, thanks to longer days, school holidays, and better weather (haha). But peak season also brings challenges. If you’re waiting for a removal van that was “just around the corner” three hours ago, you won’t need us advising you to book early (everyone else: get booking, now!) Whatever stage you’re at, these tips will help your summer move go more smoothly:

• ·       Protect Heat-Sensitive Items: Electronics, candles, and certain perishable goods can suffer in a hot van. Pack them last, in coolbags, or better yet, transport them in your air-conditioned car.

• ·      Start Early, Beat the Heat and Traffic: Mornings tend to be cooler and quieter, making for a more comfortable and efficient move.

• ·       Stay Hydrated and Cool: Keep water bottles handy and take breaks in the shade. Dress in breathable clothing, and avoid heavy lifting during the hottest part of the day (Rachel swears by freezing bottles of water or cordial, which will remain refreshingly cold as they thaw).

• ·       Divert Children: You may have pictured everyone mucking in as a great holiday adventure, but children are better, safer and happier out of the way, so arrange that playdate: you can thank those parents by inviting them to the housewarming!

• ·       Pets: Moving can be very confusing and traumatic for pets; avoid overheating, distress or the risk of losing. Leave with friends or a good pet-sitting service, and make sure things are calm before introducing to their new home, with familiar toys and bedding out (and doors and windows closed).

Stick, not Move, with Equity Release

If moving seems just too much- or you love living where you are- then have you considered Lifetime Mortgages, a form of equity release? Forget hearsay: modern Lifetime Mortgages are well-regulated, transparent, flexible, and focused on helping increasing numbers of homeowners, typically aged 55 and over, to unlock the value tied up in their property without having to sell it. 

Reassuringly, they can only be discussed and arranged by qualified, regulated professionals, and include many more benefits, flexibility and safeguards than most people realise, including:

• ·         Funds released are completely tax-free, as one lump sum or smaller initial sum and future ‘drawdowns’

• ·         No restriction on spending: home adaptation, extension, paid care, transport, family holiday?

• ·         You do not have to take the full amount offered (which depends on factors like age, and value of property)

• ·         Most do not require regular repayments: the loan is repaid when the home is sold (having potentially accrued in value)

• ·         You are guaranteed the right to live in the property for life; you can also decide otherwise (including moving home)

• ·         Some plans allow a portion of property value to be ring-fenced, guaranteeing an inheritance

• ·         Should circumstances change, optional voluntary interest or repayment options are usually available, at the request of the homeowner only

• ·         “No negative equity guarantee”: even if the property value decreases, the homeowner or estate will never owe more than the property’s value at the time of sale

• ·         Peace of mind: equity release providers and advisers (including Aspect’s three Equity Release Council-registered advisers) are regulated by the Financial Conduct Authority (FCA)

So, whether you choose to “move or stick” this summer, everyone at Aspect wishes you a calm and easy moving experience, not a sticky one! For all your property, equity and home-moving needs, never hesitate to call us on 01257 812345, drop us an email [email protected] and keep an eye on our Facebook and news pages, for the freshest updates, whatever the thermostat.

Rachel, Richard and all at Aspect Mortgages