Equity Release
Equity release allows homeowners to unlock the cash tied up in their property without having to sell or move. It’s an ideal solution if you need funds for personal reasons, such as home renovations, paying off debts, or funding major life expenses like education or travel. At Probo Mortgage, we offer flexible equity release solutions that allow you to access the value of your home while retaining full ownership and enjoying your property.
Why Choose Probo Mortgage for Equity Release?
Access to Lump Sum or Drawdown
We offer both lump-sum payments and flexible drawdown options, allowing you to access the funds in a way that best suits your financial situation.
Low-Interest Rates
We partner with leading financial institutions to provide some of the most competitive rates in the market, making your equity release affordable and manageable.
No Monthly Payments
With some equity release plans, there are no required monthly payments. Instead, the loan is typically repaid when the property is sold or upon a life event, giving you peace of mind.
Maintain Ownership
You continue to live in your home, with full ownership, while enjoying the benefits of accessing your property’s value.
Benefits of Equity Release
- Immediate Access to Funds: Whether you need money for an emergency, a large purchase, or retirement plans, equity release provides immediate access to cash.
- No Need to Sell Your Home: Unlike selling your property, equity release allows you to access your home’s value while still living in it and enjoying its benefits.
- Tax-Free Income: In many cases, the funds received through equity release are tax-free, offering a significant advantage for homeowners.
- Flexible Use of Funds: You can use the funds for any purpose, whether it’s renovating your home, investing in another property, funding education, or planning for retirement.
Eligibility for Equity Release
Equity release plans are typically available to homeowners aged 55 and older.
The amount of equity you can release depends on the current market value of your home. The more valuable your property, the more equity you can access.
You must own your home outright or have a small remaining mortgage balance, which can usually be repaid with the proceeds of the equity release.
While equity release doesn’t usually require a strong credit score, lenders may still consider your financial history when determining the terms of the loan.
Contact Us Today
Ready to unlock the value in your home? Probo Mortgage is here to help you explore your equity release options. Contact us today to schedule a consultation and learn more about how we can help you access the funds you need.