The importance of including your family in your equity release journey

Equity release can be a family affair.

Involving your family

Equity release is a huge decision and a long-term commitment. At OneFamily Advice we encourage customers to bring family members into the conversations from the start, as they can be a huge support when going through the assessment and application process.

Family members who are involved can understand not only how it works but also the implications of equity release.

They can:

  • Be confident that you are receiving the right advice for the right reasons
  • Ask several follow up questions you might not have thought about, and by having a better understanding of the product they can help you in making a decision
  • Understand how it will affect the inheritance you leave behind

You can:

  • Discuss your financial future with them and they can understand how they might be affected
  • Invite you family members along to the meetings

Inheritance implications

Equity release may mean your family receive less inheritance when you pass away. The lifetime mortgage is repaid through the proceeds of the sale of your property, meaning there could be little, or no inheritance left for your family.

Involving them will help you explain why you want to opt for equity release and enjoy sharing your money with them while you’re alive – instead of leaving them an inheritance.

Bringing your family on board

To help bring your family on board, we offer a video-conferencing facility where any number of people can join the conversation. Your loved ones can’t give you expert lifetime mortgage advice, but they can help and support you by asking questions. Our advisers can talk you and your family through the benefits, potential risks, fees, and how equity release may affect your inheritance or tax circumstances – giving you extra peace of mind.

Equity release might not be for you. There are alternatives you might want to consider, that are better fit for your circumstances, which our advisers can discuss with you and your family.

Doing it on your own

However, it is not a requirement to involve your family in your equity release journey. It’s your property and your decision - but it’s vital to seek independent, expert equity release advice, so we’re here to help you however you wish to proceed.

Book your free initial consultation

Our qualified advisers will explain the equity release process at a pace that suits you. They will not only explain all the options available to you, but also advise you on how it may affect your current or future means-tested benefits.

We search the whole market to find the most suitable lifetime mortgage for your circumstances. All lifetime mortgage plans we recommend have a no-negative equity guarantee, which means you’ll never owe more than the value of your property.

Give us a call today or find a time that works for you.

0800 144 8244*

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*Lines are open Monday to Thursday 8am to 6:30pm, Friday 8am to 5:30pm and Saturday 10am to 2pm. Calls may be recorded and monitored for training purposes. Calls to freephone numbers are free from UK landlines and personal mobile phones. With business mobiles the cost will depend on your phone provider. If you'd like to know more, please ask your provider.

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Find out how much equity you could release by entering your details below.

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Maximum loan amount:

Important: The loan amounts above are an illustration of the amount you could borrow. The actual amount may vary depending on your individual circumstances. The figures are not guaranteed and do not constitute an offer to lend. The loan amount will need to pay off any existing mortgage secured against the same property.