Equity release scheme from Copley Finance

Copley Finance will assist you in finding the right financial solution. Whether you want a mortgage, to re-mortgage your property, consolidate your debts or take out a personal loan, Copley Finance are here to help

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For many people retirement is a time they have worked hard for and looked forward to - yet many worry how they will be able to afford the things they need in older age.

Why not release the Equity in your home?

Copley Finance's Equity Release Scheme for the Over 60's could help you.
By using your house as security you can have a payment-free loan.

There is no set time to repay the loan and no monthly payments to make during your lifetime.

Copley Finance will assist you with your personal finances at retirement and enable you to release the equity in your property to finance your retirement

The loan becomes repayable only when one of the following occurs:
	Your property is sold
	You move out of your home and sell it to move into long-term care
	The demise of the last surviving partner

In the event of any of these occurring, the estate will settle the original loan, plus any accrued interest.

Your estate will not be responsible under these circumstances for any shortfall that may occur as a result of any negative equity.

To Apply for an Equity Release Loan

No income is required for an equity release mortgage.

Size of Loan
Minimum £5000
No maximum - this will depend on age however

Age of the youngest applicant. Maximum % of property value available as a lump sum.

Age	Amount available
60 - 66	20%
67 - 71	25%
72 - 76	30%
77 -79	35%
80 - 84	40%
85 - 88	45%
89 and over	60%

Type of property and value

Most types of property will be considered in England, Scotland and Wales, although the following will apply:
	Must be main residence.
	Be in good condition.
	Of conventional construction.
	Be more than 1 bedroom.
	Must not be being bought under a “Right to Buy” Scheme.
	Property must be over £40,000. £50,000 for sheltered accommodation.
	There is no upper limit.
	Leasehold property must have at least 80 years remaining on it.
	If property is under trust - cannot lend to you or the Trustees.
	Any outstanding mortgage would need to be repaid before or at the time that the new Home Equity.
	Release Mortgage begins.
	Funds from this scheme can be used to repay any existing mortgage.

Sheltered Accommodation will be considered, providing:
	It is category 1 and 2 comprising of standard housing for the elderly.
	They are individual flats with alarm system, internal corridors to common areas and sometimes a resident warden.

For a quick quote, call 023 8066 8778 or use our quick quote form

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