Mortgage Advice

Equity Release Mortgages

The ‘equity’ you have in your property is its valuation less any mortgage or other debt held against it.So what is ‘equity release’? In the UK it is a generic term given to a way of taking cash out of the value of your home without having to sell it or move out.

In the UK, equity release plans are designed for those over the ages of 55, and the amount you can release depends broadly on two things: the age of the youngest applicant and the value of your home. The organisation adheres to the principles of the Safe Home Income Plans (SHIP) Standards Board, which was born out of the predecessor organisation also know as SHIP.

This sets the standards and principles required of members of the Equity Release Council.

Their Statement of Principles also specifies certain guarantees all applicants must receive:

    • Members agree to provide fair, simple and complete presentations of their plans
    • The client will always be able to use the Solicitor of their choice to make the legal arrangements
    • A SHIP certificate will be completed clearly showing the main costs to the client’s assets and estate, including how the loan amount may increase, or (for Home Reversions) how much of the property is being sold
    • All SHIP plans carry a ‘no negative equity’ guarantee. This means the applicant will never owe more than the property is worth, no matter what happens to house prices or the size of the debt
    • The client will have the right to occupy their property for the rest of their life if they are able and choose to do so

The Financial Conduct Authority (FCA) took over the regulation of all forms of Equity Release in 2012. This organisation replaced the Financial Services Authority (FSA) who regulated both types of equity release from 6 April 2007. This regulation requires Advisers to hold a professional qualification in equity release advice together with strictly defined requirements for the advice process.

Equity release schemes can be complex and therefore Tony can introduce you to a specialist in this area.

This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration.        Send us a message

Equity Release will reduce the value of your estate and can affect your eligibility for means tested benefits.

Residential & Commercial Mortgages

At some point in our life, almost all of us need to take mortgage advice.

At Birkdale Financial Solutions, we believe in providing a simple, yet comprehensive approach to your mortgage and protection needs. Whether you are moving into your first home, buying a property as an investment or protecting your family against risk, we can guide you through the market place to find a solution tailored to your needs.

Our intention is to form long-term relationships with our clients and be a source of trusted advice as needs evolve over the years. We will keep in regular contact with you as a client to ensure that all your arrangements are dealt with under one roof matching your lifestyle now and in the future.

We work with a comprehensive range of lenders. With sufficient choice, we can combine the latest technology with the knowledge and experience of our advisers to facilitate an exceptional quality of service. In simple terms, we work on behalf of the client by selecting the appropriate products and services from the wide spectrum of the marketplace.

We will call out to see you in the comfort of your own home, during the day, evening or weekend. Alternatively, the offices in Southport offer confidential consultation rooms and appointments can be arranged to suit you.

The Financial Conduct Authority does not regulate commercial mortgages.

Commercial mortgages are available by referral to a master broker only.

We are very keen to encourage close links with like-minded professionals and to this end we work with a selected number of professional partners, complementing each other’s areas of expertise. These include:

The Financial Conduct Authority does not regulate taxation advice, trusts or will writing.

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