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Specialist Equity Release Advice

Provided by Mortgage Concepts Associates Ltd

The advice process and how it all works…

Discuss your plans with your Family

It is always your decision but we would always encourage you to talk to your family about your plans and explain why you are interested in finding out more about lifetime mortgages.

You could even include them in the meeting with your adviser.

Speak to a specialist regulated lifetime mortgage adviser

An adviser from MCAL Equity Release can help you understand the benefits involved as well as the potential risks.

Start to explore all your options in depth and think about the plans you would like to make for leaving an inheritance. Now is also a good time to consider making a will if you do not have one already.

Take time to look through the personal Key Facts Illustration that they will give you. Feel free to take notes and ask questions as you go.

Prepare for your meeting

When you make an appointment with an adviser, you will need the following information:

About you:
Your adviser will need to see proof of your age, identity and address.

Your income:
Make a note of things like your salary, pension, state benefits, bank and building society accounts and any investments.

Your outgoings:
List all your regular outgoings such as bills, food and less regular expenses like birthdays and trips out.

Your property:
Have a copy of your title deeds or last mortgage statement. Research the value of properties in your neighbourhood to get an idea of what you think your property is worth.
Start to explore all your options in depth and think about the plans you would like to make for leaving an inheritance. Now is also a good time to consider making a will if you do not have one already.

Take time to look through the personal Key Facts Illustration that they will give you. Feel free to take notes and ask questions as you go.

Start the application

Once you are ready, you can start with the application, It will not take long and your specialist regulated lifetime mortgage adviser will help you. You will need to:

Choose whether you would like a one-off cash sum or access to smaller amounts as and when you need them.

Confirm if you would like us to arrange inheritance protection, and if so, the percentage of your property’s value to secure for your estate. This will reduce the total amount you are able to borrow. You can also confirm any requirements you may have.

Talk through the final application with your adviser and confirm any changes. Once the lender has the application they will then arrange for your property to be valued by a specialist surveyor.

If your application is approved, your lender will send you an offer, with a copy sent to your solicitor.

You should review the offer and make sure that it as you expect. Call your regulated lifetime mortgage adviser if you have any questions or concerns.

Your solicitor will want to meet to go through the legal aspects. This would be a good time to review your will and consider a lasting Power of Attorney.

As soon as the documents are returned to the lender by your solicitor, your lender will release the money. This usually takes between four to six weeks.

Enjoy your retirement, or that you have helped your children or grandchildren onto the property ladder. Look forward to that holiday of a lifetime.

MCAL Equity Release

MCAL Equity Release

We are your specialist lifetime mortgage advice service. Our advisers are all very friendly and have many years experience in both the mortgage and the lifetime mortgage markets.

We have a nationwide network of regulated advisers all of whom have the relevant examinations together with years of experience.

Equity Release Council

MCAL Equity Release is a member of the Equity Release Council and strictly adheres to their code of conduct.

www.equityreleasecouncil.com

Fees

Generally our advisers will charge a fee of up to £895.00 for our service. This will be explained during our meetings. We will also be paid by the lender.