CARE ADVICE SERVICE

Worthing Office 01903 550204 | Norwich Office 01603 552104


Care Advice Service

Main Office - West Sussex

23-24 New Broadway, Worthing, BN11 4HP


East Anglia Office

46 Brook Street, Norwich

NR10 5HF

©2018 BY BIG RIVER LTD
CARE ADVICE SERVICE IS A TRADING STYLE OF BIG RIVER LTD WHICH IS AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.

EQUITY RELEASE

Using your property to pay for care

Equity release can offer a solution when you need to fund care but your money is tied up in property that you wish to keep.

This might apply if you are paying for live in care in your own home or your are in a care home and have a property that you wish to keep.

Senior Dance
House
Bungalow.JPG
Laptop & Coffee

NOTES

Equity release is a complex product with lots of options and there are risks to you, your property and your beneficiaries.  It is important that you fully understand exactly the consequences of such a product before you proceed.

All money borrowed will need to be repaid at some point in the future plus interest.  On most schemes interest is on a 'roll up' basis, which means that there are no payments due during the lifetime of the loan but you will end up paying further interest on interest payments.  Taking out an equity release lifetime mortgage is likely to have a significant negative impact on your estate.

Although we are naturally cautious about recommending these schemes, there are many situations where they will allow you to have the care that you need in the location of your choice.  We would be pleased to talk through the options and alternatives with you.