We are SOLLA Accredited

SOLLA helps people and their families in finding trusted accredited financial advisers who understand financial needs in later life. A well-qualified financial adviser who is also somebody who understands the plans you need to make for your retirement years.

We are incredibly excited to announce we are now SOLLA Accredited Equity Release advisors.

SOLLA helps people and their families in finding trusted accredited financial advisers who understand financial needs in later life.

A well-qualified financial adviser who is also somebody who understands the plans you need to make for your retirement years.

The complexities of the many decisions you or your family may need to face when looking at issues such as care funding matters or whether equity release is the right thing for you, need careful and considered advice.

Financial advice should help you make clear and informed decisions knowing that you have had the information and choices presented to you in a way that helps you make the best choices and decisions for you or for a family member.

Contact us to find out how we can help you

All SOLLA later life advisers specialise in the financial needs of older people. Professional qualifications, whilst essential, do not always give a full picture of an adviser’s experience or expertise.

Those advisers who have taken the further step to become independently accredited can offer the added reassurance that they can give the practical help and guidance needed to help you make the right decisions at the right time.

Why would anyone choose a financial adviser offering anything less?

All full members of the Society must achieve the Later Life Adviser Accreditation and adhere to a Code of Practice to ensure their clients know what to expect from their services. Accredited advisers can advise on:

  • Retirement Planning – pensions and annuities
  • Funding for Care Home fees
  • Funding for care in your own home
  • Equity release and other property options
  • Savings and investment planning
  • Tax matters and estate and wealth planning

Six equity release myths busted

Here, we debunk equity release myths and explain the role equity release can play in boosting your finances

Here, we debunk equity release myths and explain the role equity release can play in boosting your finances

Although equity release has soared in popularity in recent years, many people still have misconceptions around how it works. These equity release myths often mean that people overlook the benefits of a lifetime mortgage. 

A lifetime mortgage, the UK’s most popular type of equity release scheme, enables you to access a portion of your home’s wealth as a tax-free lump sum. This sum, plus the interest accrued, need only be repaid upon your death or when you move into long-term care and your property is sold

Visit our Equity Release page or contact us for more

Equity Release grows 28% on 2020

Indeed, the number of customers who have used equity release to repay
their mortgages has almost doubled in 12 months

The number of customers who have used equity release to repay their mortgages has almost doubled in 12 months

In 2021, existing customers took an additional £494 million in drawdown and further advances to take the total amount released to £4.89 billion (FY 2020 – £3.88 billion). Interestingly, while the market hit new heights in FY 2021, this was driven by the size of the average amount released rather than the number of customers. This peaked in FY 2018 when 47,081 plans
were taken out.

In FY 2021, customers took out an average of £104,792 which is
substantially higher than the £84,919 (FY 2020) and £76,359 (FY 2019) taken in previous years. While after a challenging 2020, many had high hopes for 2021 returning to more normal market conditions. This was impacted by the ongoing threat of Covid which saw customers continue to focus on meeting pressing needs such as debt repayment or supporting wider families via gifting rather than discretionary spending on holidays or
home improvements.

Indeed, the number of customers who have used equity release to repay
their mortgages has almost doubled in 12 months from 20% (FY 2020) to
38% (FY 2021) while at the same time spending on holidays has fallen from
23% (FY 2020) to 7% (FY 2021). Still buoyed by the Stamp Duty Holiday
which finished at the end of September, 22% of equity release customers
used housing equity to support families (27% – FY 2020)

See how much you could borrow here

Source: Key Market Monitor 2021 available to download here

Can I pay an Equity Release Early?

Over this series we will be discussing the pro’s and cons of Equity Release, answering your questions and covering the questions we are most regularly asked.

Contact Us: www.missingelement.co.uk/contact

Book an Appointment: www.missingelement.co.uk/book

Subscribe to my channel: https://www.youtube.com/channel/UCq940H6oMU2eE9Jy9uTbpuQ

Say hi on social:
Twitter: https://twitter.com/missingmortgage
Instagram: https://instagram.com/missingelementmortgage
Facebook: https://facebook.com/missingelementequityrelease
TikTok: https://tiktok.com/@missingelemetnmortgages


Video hashtags: #EquityRelease #Q&A #MortgageAdvisors #EquityReleaseDerby #EquityReleaseBelper #Equityreleasecalculator

What happens if I go into care?

Over this series we will be discussing the pro’s and cons of Equity Release, answering your questions and covering the questions we are most regularly asked.

Over this series we will be discussing the pro’s and cons of Equity Release, answering your questions and covering the questions we are most regularly asked.

Contact Us: www.missingelement.co.uk/contact

Book an Appointment: www.missingelement.co.uk/book

Subscribe to my channel:http://Subscribe to my channel: https://www.youtube.com/channel/UCq940H6oMU2eE9Jy9uTbpuQ

Say hi on social:
Twitter: https://twitter.com/missingmortgage
Instagram: https://instagram.com/missingelementmortgage Facebook: https://facebook.com/missingelementequityrelease
TikTok: https://tiktok.com/@missingelemetnmortgages

Video hashtags: #EquityRelease #Q&A #MortgageAdvisors #EquityReleaseDerby #EquityReleaseBelper #Equityreleasecalculator

Lifetime mortgages: a solution going through a divorce?

Divorce is declining within younger age groups, but ONS figures show it is a growing trend among the over 60s.

Divorce is declining within younger age groups, but ONS figures show it is a growing trend among the over 60s.

For some, divorce can represent a new start. However, for many others it will be an emotional transition that can have a negative effect on the couple’s finances.

What are the problems facing you going through a later life divorce?

In over half of divorce cases, one of the partners will want to stay in the family home. This could mean selling up, and splitting the equity to buy two smaller properties isn’t always the best option. As well as the emotional and financial difficulties of moving, you will be faced with fierce competition from first time buyers. Sought-after smaller homes can become less affordable as competition is steep.

Retirement is also becoming increasingly expensive. With low interest rates, it’s even more difficult to generate an income from a portfolio of bonds or equities. Coupled with increasing life expectancy, pension pots and other savings now have to stretch further. Adding divorce into the mix can significantly impact people’s retirement planning.

And then there are pensions. A pension may have been enough to support one household comfortably. But, when split across two, it may not be enough. Some divorcees may have fought to stay in the family home, only to find that this leaves them with a valuable physical asset – the property – but insufficient income to live on.

ERS: Younger clients seeking equity release

How a lifetime mortgage could help

A lifetime mortgage can provide additional income at an expensive time. You could release money from their home in a lump sum to help cover costs such as legal fees.

The money released could enable one partner to effectively ‘buy out’ the other. This would allow you to separate without selling the family home. This could avoid some of the emotional stress and upheaval of moving.

It could even help you with a pension sharing order dispute. If one person wishes to keep their final salary pension as part of a divorce settlement, a lifetime mortgage can provide an alternative way of releasing a lump sum from their property to settle instead.

Good advice makes all the difference

Only 3% of people seek financial advice when going through a divorce process, but advisers can play an essential role in helping a couple find financial fairness.

Good advice early on in the divorce proceedings can make a real difference to you. There are many situations where a lifetime mortgage could be a viable solution and help avoid some of the financial and emotional stress of a divorce.

It’s important to remember that a lifetime mortgage creates a debt on the home, and if your client has more affordable ways of borrowing available, these should be considered first.

Interest is charged on the total loan amount plus any interest already added and the amount owed grows quickly and reduces the equity left in the property.

A lifetime mortgage will reduce any inheritance and may affect entitlement to State Benefits.

Find out more about Lifetime Mortgages, and how they could help you through a later life divorce.

Source: Clients going through a later life divorce | Legal & General (legalandgeneral.com)

Equity Release Q&A

Over this series we will be discussing the pro’s and cons of Equity Release, answering your questions and covering the questions we are most regularly asked.

What happens if I go into care?

 Over this series we will be discussing the pro’s and cons of Equity Release, answering your questions and covering the questions we are most regularly asked.

Contact Us: www.missingelement.co.uk/contact
Book an Appointment: www.missingelement.co.uk/book
Subscribe to my channel: https://www.youtube.com/channel/UCq940H6oMU2eE9Jy9uTbpuQ

Say hi on social:
Twitter: https://twitter.com/missingmortgage
Instagram: https://instagram.com/missingelementmortgage
Facebook: https://facebook.com/missingelementequityrelease
TikTok: https://tiktok.com/@missingelemetnmortgages

Video hashtags: #EquityRelease #Q&A #MortgageAdvisors #EquityReleaseDerby #EquityReleaseBelper #Equityreleasecalculator


Click here to learn more about equity release

We now offer Equity Release, Q&A and Myth Busting

Over this series we will be discussing the pro’s and cons of Equity Release, answering your questions and covering the questions we are most regularly asked.

Contact Us: www.missingelement.co.uk/contact

Book an Appointment: www.missingelement.co.uk/book

Subscribe to my channel: https://www.youtube.com/channel/UCq940H6oMU2eE9Jy9uTbpuQ

Say hi on social:

Twitter: https://twitter.com/missingmortgage
Instagram: https://instagram.com/missingelementmortgage
Facebook: https://facebook.com/missingelementequityrelease
TikTok: https://tiktok.com/@missingelemetnmortgages
Video hashtags: #EquityRelease #Q&A #MortgageAdvisors #EquityReleaseDerby #EquityReleaseBelper #Equityreleasecalculator