Equity Release Advice in Leeds | Trusted Mortgage Advice Leeds

Equity Release in Leeds

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How does equity release in Leeds work?

If you are 55+ and own your home with or without a mortgage, you may be eligible for an equity release plan.


Equity release plans allow you to release part of the value of your home as a tax-free lump sum, or a series of smaller sums taken out over a particular length of time.


Leedsmoneyman specialises in providing a holistic service with mortgage advice in Leeds from qualified and experienced later life mortgage advisors. This is backed up by an efficient team of case managers, to make sure your plan is put in place as quickly as possible and to keep you informed every step of the way.


Your later life mortgage advisor in Leeds will look in depth at your current circumstances, your past experiences and your hopes and plans for the future. This allows them to identify whether equity release in Leeds, or an alternative, is right for you.


If it is the right step for you to take, it also allows your later life mortgage advisor to find the best product to suit you both now and in the future from the whole of the market.


There are two main types of equity release in Leeds – the lifetime mortgage which is available from 55+ and the home reversion plan* (which involves selling all or part of your home).


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Both types of equity release plans, lifetime mortgages and home reversion plans, are regulated by the Financial Conduct Authority.

Lifetime Mortgages in Leeds

Whether you want to raise money to help out children or grandchildren, repay existing mortgages or other debts, carry out home improvements or boost your retirement income to cope with increased costs of living, our experienced, friendly advisors can help you achieve your aims.


A lifetime mortgage in Leeds allows you to release tax-free money from the value of your home. You will retain 100% ownership and you can stay in your home for the rest of your life.


Normally, a lifetime mortgage in Leeds is repaid from the sale of your home after your death or going permanently into care (with two borrowers this applies to the last survivor).


In recent years, lifetime mortgages in Leeds have become much more flexible including options to make voluntary payments, monthly interest payments and move your mortgage to another property.


For further mortgage advice in Leeds regarding equity release in Leeds, it is worth seeking the advice of a specialist in the field.


Get in touch with a mortgage broker in Leeds and we will book you in with one of our later life mortgage advisors to discuss your options for releasing equity in Leeds.


To understand the features and risks, ask for a personalised illustration. Equity Release may come in the form of a lifetime mortgage or home reversion plan.


A lifetime mortgage may impact the value of your estate and it could affect your entitlement to current and future means tested benefits. The loan plus accrued interest will repayable upon death or moving into long term care.


A home reversion plan involves selling all or part of your home to a plan provider in exchange for a tax-free lump sum.

We search 100s of lifetime deals across the whole of the market.

The Process of Equity Release in Leeds

If you think that an equity release plan might be for you then it is important that you know all the options, alternatives, advantages and disadvantages.


Book a free appointment with us and one of our trusted later life mortgage advisors will be happy to talk this through with you. They will help you understand the steps involved, what your options are and the effect taking a lifetime mortgage in Leeds might have on state benefits, tax and the remaining equity in your home over time.


We actively encourage clients to involve family members or to have another trusted individual to support you through the process and be present at our meetings.


In addition to this aspect of our service, we are also very happy to work alongside any financial advisors, accountants or solicitors involved in your financial planning decisions.


If it is done correctly, equity release in Leeds should have no effect on your tax position or benefits. That being said, everyone’s circumstances are different and a later life mortgage advisor in Leeds will need to have a full picture of your situation to be able to provide the best advice.


It is important for you to find a later life mortgage advisor that you feel you can trust and share all of your details with. We firmly believe that this is something we excel at as a company, of which our genuine customer reviews are a reflection of.


Once the right plan has been identified, your later life mortgage advisor in Leeds will provide you with an illustration and a written recommendation, detailing what you have told us and why we have recommended that particular plan.


You later life mortgage advisor in Leeds will then go through the recommendation with you before submitting an application to the mortgage lender.


We have a fantastic team of experienced case managers who, together with your later life advisor in Leeds, will manage the entire process up until completion. They will keep you informed every step of the way, with dedicated points of contact if you need to speak to us.


We provide all initial advice for free and with absolutely no obligation or pressure to go ahead. Only if you go ahead and your case completed, do we charge you an advice fee.

Things to Consider with Equity Release in Leeds

If you take a lifetime mortgage in Leeds, any existing mortgages or loans secured on your property must be repaid.


Any accrued interest must be paid along with the amount released must be repaid on death or moving into long term care.


Taking a lifetime mortgage in Leeds will reduce the amount of equity available in your property to leave as an inheritance or to use for the payment of care fees in later life, should you need to rely on this.

Why should I use Leedsmoneyman for my Lifetime Mortgage?

A trusted mortgage broker in Leeds, we have been helping customers achieve their mortgage dreams for the last 20 years and counting.


We bring the same passion and dedication to providing the best, whole of market lifetime mortgage advice in Leeds for our valued older clients.


We always do our best to overcome every mortgage hurdle that we are faced with no matter how hard the situation is; we love a good challenge! We work for you (the customer), and no matter what, we always have your best interests at heart.


Your family is always welcome to be part of the advice process and we will always accommodate clients’ different needs and circumstance if we possibly can.


After your free equity release and lifetime mortgage advice appointment, we will go and search for the perfect lifetime mortgage deal in Leeds that matches your personal and financial situation both now and how you anticipate this changing in the future.


We will be there for you through the whole process. With our continuous guidance and support, we will get through the mortgage journey together, aiming to take out all of the stress involved with the process.

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Common mortgage

Our free initial mortgage consultation can roughly last up to 30 mins. As a skilled Mortgage Broker in Leeds, we can get you an Agreement in Principle within 24 hours after we have all the correct information. On average, a formal mortgage offer takes about three weeks. 

If you’re an employee, you will usually have to supply three pay slips to prove your income. If you are Self Employed in Leeds, it is typically the latest two years’ accounts. You will also need to provide proof of ID, address and three months’ bank statements. 

If you can show evidence of at least one year’s accounts, you may be able to get a mortgage. Most lenders in Leeds will use your salary plus dividend to work out your maximum mortgage. However, some can go off your net profit. 

Despite having shown any credit problems in the past, the good news is you may be able to get a mortgage, but it means you may be required to put down a higher deposit, e.g. 10 – 15% of the property purchase price.

Suppose you are looking to put down a deposit for a property in Leeds. In that case, most High Street lenders will ask for a minimum deposit of 5%, and others might ask for a higher amount depending on your circumstances, e.g. If you have had any previous credit problems.

You can have two mortgages running simultaneously, as long as you can afford to repay the monthly instalments on each of them. If you’re looking to accomplish something like debt consolidation or home improvements, you may be able to place a second mortgage on your home. 

An Agreement in Principle typically lasts for between 30 and 90 days depending on the Lender used. If your Agreement in Principle expires, it can easily get renewed by speaking to a Mortgage Advisor in Leeds. 

As a committed Mortgage Broker in Leeds, we will carry out a Fact Find to establish your personal needs before we go ahead with advising the most suitable mortgage for your circumstances. From there, you will be credit checked, which is a requirement to obtain an Agreement in Principle. Once you have provided all the relevant documentation and a valuation of the property has been undertaken, you can be issued a formal mortgage offer. 

Your free mortgage consultation with a Mortgage Advisor in Leeds will last around 30 mins. Once they have evaluated your circumstances, they will advise a mortgage with no obligation for you to proceed. Based on the deal, you can determine whether or not you want to continue the process. 

To help demonstrate that you are creditworthy and assess your affordability for a mortgage, we recommend getting an Agreement in Principle ready before viewing properties in Leeds. At the very latest, you should obtain one before making an offer to assist your bargaining position and show any seller that you are ready to proceed should they accept your offer. We are typically able to obtain an agreement in principle within 24 hours.

We make it so easy!
Our 4 step process

Step 1

An initial telephone call where we can take some preliminary details and find out what you're looking to do.

Step 2

Obtain a Mortgage Agreement in Principle to provide support for any future offers you make. You're now ready to start searching for a property.

Step 3

Make an offer on the property you want! Our team will finalise any details and find you the most suitable deal!

Step 4

The final step, taking our mortgage advice. We'll make certain that this is the best deal you can get. You will continue to have our support right until you get the keys.

A telephone call where we can take some initial details and find out about your plan of action.

Enjoy finding a property!

Make an offer on the property you set your heart on – we’ll finalise your figures and help you to get a good deal.

Our mortgage recommendation. We’ll try to find you the best mortgage deal. We’ll be there to support you, right through to you getting your keys.

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Leedsmoneyman.com & Leedsmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk

The information contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.
Should you have cause to complain and you are not satisfied with our response to your complaint, you may be able to refer it
to the Financial Ombudsman Service, which can be contacted as follows

The Financial Ombudsman Service, Exchange Tower, London, E14 9SR

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Leedsmoneyman, Wizu Workspace, 32 Park Cross Street, Leeds, LS1 2QH.

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