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Equity Release Mortgage Advice in Liverpool

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Mortgage Advice for Equity Release

The purpose of taking out an Equity Release is to turn any existing equity that is in your home, into a lump sum of cash to spend however you please.


You are able to use the released money for a wide variety different things, with popular options including to pay off an existing mortgage payment, to pay off any unsecured debts you may have gathered, to fund any potential home improvements or modification, as well as to pay for any holidays you wish to take, car payments and other similar large payments.

Helping You Find The Value in Your Property!

Your Equity Release will more than likely be presented in the form of a Lifetime Mortgage.


The way a Lifetime Mortgage works, is either once you have finished your mortgage term or even if you still have an outgoing balance to pay for, you have the option to release your equity by way of this route. On the basis that this is your main residence, you may be able to take out a Lifetime Mortgage, sectioning a portion of the equity for future family inheritance, if you wish.


You may still have the option to make monthly payments back if you would like to do so, however a popular choice among homeowners is to simply let interest roll-up. The loan only becomes repayable once you have passed away or happen to move into long-term care, declared unfit to live by yourself without assistance.

Things to Remember with Equity Release

You must remember when looking at this for a financial option, that for one, you have to be at least 55 years old to qualify. In addition to this, your age, as well as the value of the property can affect how much you are able to withdraw from your properties equity.


For further Mortgage Advice in Liverpool regarding Equity Release, we highly recommend seeking the advice of a Specialist in the field. Get in touch with a Mortgage Broker in Liverpool and we will guide you as best we can.


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Popular Options For Equity Release in Liverpool

As mentioned in the above section, there are a all kinds of reasons why somebody may wish to take out a Lifetime Mortgage for Equity Release. We often find that customers use this for things like:

  • Mortgage Repayments
  • Paying off Unsecured Debts
  • To fund Home Improvements, Modifications or Alterations
  • Additional Purchases

Equity Release to Pay Off a Mortgage

You may still be able to take out a lifetime mortgage and use the equity to pay off the remaining balance of a mortgage, even if your term is still ongoing. Your affordability, however, may be affected by the fact you do technically still have a large outgoing to cover the costs of, which may end up limiting the amount a lender may give you.

Equity Release to Pay Off Unsecured Debts

Secured debts generally will include things like a mortgage repayment, with it being secured against a particular asset, which in this case would be your home. Unsecured debts will include things like personal loans, where a debt is not secured against any asset. In times like these, people will often choose Equity Release to cover the costs of any unsecured debts that have built-up.

Equity Release for Home Improvements, Modifications or Alterations

Some people may look at their options of taking out an Equity Release for the purpose of Home Improvements, Modifications or Alterations. This works the same as people who wish to use a Remortgage for also releasing their equity, with the only difference being that a Remortgage to Release Equity will almost certainly place you on a Repayment Mortgage, whereas regular Equity Release will place you on a Lifetime Mortgage. Popular choices for these types of projects include home offices, conservatories, garden improvements, extensions, new living rooms and kitchens, and a new or additional garage next to one you already have.

Equity Release for Additional Purchases

There are various other purchases you want to make once you have released some equity from your property. We regularly hear of these including things like a new car, a holiday or two away, a wedding and literally anything else you can think of. The point here is, the equity in your property is yours to spend on whatever you would like to spend it on.


If you would like to get started on an Equity Release in Liverpool, Get in Touch and speak to a Mortgage Advisor today.

Speak to a Mortgage Broker in Liverpool Today

Our experience within the mortgage industry is over two decades. Through this length of time, we have helped thousands of customers achieve their mortgage dreams, doing everything we can to help them overcome any mortgage hurdles that have become apparent during the process. We have absolutely no ties to any estate agents, banks or building societies, working hard solely for you, our customer.


As an experienced and knowledgeable Mortgage Broker in Liverpool, our trusted team are able to look through thousands of different mortgage deals, in order to try and find one that works for both your individual and your financial situation.


Throughout the mortgage process, our team will offer constant guidance and support, answering any questions that you may have. We’re even able to assist with other services when applicable, such as referring you to a conveyancing solicitor.


Our amazing mortgage team are incredibly proud of the service levels they provide every day. This is well reflected in the Genuine Customer Reviews that we receive from our loving customers.

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Common mortgage

As your Mortgage Broker in Liverpool, our first job is to carry out a Fact Find on you to get a bigger picture of your personal and financial situation, so that we can recommend the most suitable mortgage for you. In order to obtain an Agreement in Principle, you will also need to have a credit check performed on you. Once you have provided all the relevant evidential documentation and a valuation of the property has been undertaken, a formal mortgage offer can be issued.

Your free mortgage consultation with Liverpoolmoneyman will last around an hour. After your details have been taken, a Mortgage Advisor in Liverpool will then search through thousands of mortgage deals to find a perfect matching deal for you. Once we recommend the deal, you can decide whether to proceed with us or not, it’s completely up to you!

We always recommend that you obtain an Agreement in Principle before you start viewing properties in Liverpool, as they can potentially put you in front of other buyers who don’t have one. Lenders will like the fact that you have prepared before making an offer.

An Agreement in Principle typically remains valid for between 30 and 90 days, but this can change depending on your lender. If your Agreement in Principle expires it can always be refreshed. A Mortgage Broker in Liverpool like us can usually get one sorted for you within 24 hours within your application.

Yes, you can get a second mortgage. You can take out a second mortgage for your current home for things like debt consolidation and home improvements. It is also possible to take out a second mortgage for another property if you want. Usually, this situation comes about when people are interested in a holiday home, are buying for a friend/family member or want a Let to Buy or Buy to Let.

The minimum deposit when buying a house in Liverpool with high street lenders is typically 5%. You will rarely find lenders that will accept a minimum of less than 5%. This minimum can be higher if you have had bad credit in the past.

It is possible but it can be a bit tricky though. When you have had previous credit problems your minimum deposit that is required could rise, we have seen it at 15% before. Having a Specialist Mortgage Broker in Liverpool could really help you get back on track in situations like these.

After you have proven at least one year’s accounts to your lender, you should be able to get a mortgage. Most lenders in Liverpool will use your salary plus dividend to work out your maximum mortgage, however, some can go off your net profit.

If you’re an employee, you will usually have to supply three payslips in order to prove your income. If you are Self Employed in Liverpool its normally the latest 2 years’ accounts. You will also need to produce proof of ID, address and 3 months’ bank statements.

Our free initial mortgage consultation can last up to an hour. As an experienced Mortgage Broker in Liverpool, after we have all of your information we can get you an Agreement in Principle within 24 hours or your phone call. On average, a formal mortgage offer takes about three weeks.

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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