Protection

Protect your family and your lifestyle in case of the unexpected

Mortgages

Looking to move home or reduce your current mortgage outlay?

Retirement Planning

We can help you plan by ensuring you have the best pension scheme possible now and at retirement

Investments

With so many choices, leave it to us to help make your money work harder for you.

Commercial

We can support your business development plans with advice on growth, restructure and commercial lending

Your home may be repossessed if you do not keep up repayments on your mortgage

The value of pensions and investments and the income they produce can fall as well as rise. You may get back less than you invested.

Equity release: types of scheme 

There are two main types of equity release: lifetime mortgages, which allow you to borrow money against your house; and home reversion, whereby you sell a share in your house.

Equity Release is a lifetime mortgage or home reversion scheme. To understand the features and risks, ask for a personalised illustration. 

Lifetime mortgages

With a lifetime mortgage, you borrow a proportion of your home's value. Interest is charged on the amount. Under a Lifetime Mortgage you can choose to either pay the interest each month to avoid the debt increasing (Interest Only Lifetime Mortgages) or simply allow it to be continually added to the amount borrowed (Roll Up” Lifetime Mortgage). If the interest is compounded or 'rolled up' over the period of the loan, it may mean your debt would almost double in 11 years at current rates. 

Home reversion schemes

With a home reversion scheme, you usually sell a share of your property to the provider for less than the market value. You have the right to stay in your home for the rest of your life if you wish. When you die or move into long-term care and the property is sold, the provider gets the same share of whatever your home sells for as repayment. For example, if you sold 50% of your property to the provider, it would get 50% of the sale price.

You can take out some lifetime mortgages from the age of 55, but home reversions are available only to people aged 65 or older. Equity release schemes are designed to be a lifelong commitment so it is important to understand all of the advantages and potential disadvantages before you make a decision.

  • Equity release schemes involve borrowing against your home, (or in the case of Home Reversion Plans – selling all or part of your home) and may work out more expensive in the long term than downsizing to a smaller property.
  • Equity release may affect your entitlement to state benefits and grants.
  • Releasing equity will reduce the value you have in your home and therefore the amount of inheritance you will be able to leave. It can also make the process of leaving your property to beneficiaries more difficult – especially in the case of a home reversion plan.
  • Should you wish to end the plan it may be difficult and you may incur penalties to do so.

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

We were really impressed with the speed with which you processed the mortgage and the great rate of interest!

Dani & Geoff, Stratford upon Avon

Straight forward information and easy to follow progress, being able to see everything via the Old Mutual portal is excellent. Stress free from start to finish and such a good feeling about who is best at looking after my financial future.

Phil Harmer, April 2017

My mortgage needs were not simple to deal with, but Dan’s knowledge and experience really shone through. He was professional in his dealings with me and explained everything to me in a clear and concise way, ensuring I fully understood the mortgage product I purchased.

P Davies,September 2019

The service at Cosgrove Brown really has been first class. Not only was Dan, the Mortgage Broker, friendly and relaxed, nothing was too much trouble for him. He seemed to go above and beyond in helping where he could. He really took a lot of pressure off me in what could have been a really stressful time. I would 100% recommend Cosgrove Brown, the service was exceptional and really good value for money too.

H McGillivray, February 2020

Daniel went above and beyond to help us with our first mortgage. He explained the mortgage, its rates and terms very clearly, he was extremely patient and professional, we would highly recommend him.

Fi Davies, August 2018

I had the best possible products tailored for me. I appreciate how much time you have saved me.

Karen, London

Thank you for putting together an investment portfolio of cash, stocks, shares and property.

Geff, Newport

Thank you for the excellent service and advice given, you made my journey hassle free and tax efficient, and now very profitable

Steve Allan, March 2018

Daniel never let up and his tenacity was commendable. I was kept informed of our mortgage progress at every stage.

Louise, Swansea

Dan cut through the jargon and was always there to respond to my questions; his work has helped my dream of buying a house come true.

S & K Jones, Swansea

My critical illness policy covers everything I need and took into account my lifestyle and income - thank you!.

Teresa, Llanelli

Get all of your questions answered by our experts - call us or complete our online enquiry form to arrange your meeting. The first meeting is at our expense and without any obligation

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