Are you ready for all the good things that equity release has in store for you? It’s no surprise that many people over the age of 55 are focusing on the advantages of equity release. By definition, equity release is simply converting all or some of the equity in your home into cold hard cash.
Stonehaven is a company that offers equity release possibilities for people who are over the age of 55. Only over 55's can tap into what equity release schemes have to offer. So consider yourself lucky if you fall into this age bracket today. Stonehaven is pioneering because for the last 6 years, it has been offering people over the age of 55 the chance to release equity with their award winning equity release company with a wide range of different schemes.
Sample a little bit of what these plans have to offer you by looking below:
- Interest only lifetime mortgage: Stonehaven offer interest only lifetime mortgages. These are mortgages that allow you to get a cash lump sum where you are only paying the interest back and not racking up any extra debt on your account. Hence it is unlike a roll-up lifetime mortgage. Consider an interest only lifetime mortgage if you want the amount you are paying every month to stay the same instead of going up and down depending on what is going on in current affairs.
- Fixed Interest Rate for life: Stonehaven's plans offer a rate which is fixed for the rest of your life, leaving you safe in the knowledge of excatly knowing your monthly repayments. This allows one to budget accordingly & plan how to spend the household surplus.
- Roll-up equity release: This is the plan that has the quirky name. A roll-up equity release plan is essentially a way for the interest you have on your mortgage to be rolled up in your equity release and you pay it within the loan. The money that you get from the roll-up equity release is basically tax-free so you can use it any way that you want. What happens with roll-up equity release is it stays as a debt so when you die, your family will not be burdened with a massive cut from HM Revenue when it comes to inheritance tax.
