Homeowners releasing equity to help with children’s deposits


Recently, with the lending criteria being constricted by most high street banks, many first time buyers find themselves in a position where the deposit required to take out a mortgage is simply out of reach. It looks as though more and more homeowners are helping to share this challenge with their children using equity release as a tool to come up with the hefty deposits.

This may be seen as a welcome hand in a difficult time and goes to show that the recession cannot stifle innovation and determination. Equity release may affect the inheritance one is able to leave but many may agree that causes like this, among the countless other reasons, are well worth it.

Responsible Equity Release is a trading style of Responsible Life Limited. Responsible Life Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register (https://register.fca.org.uk/) under reference 610205. Only if you choose to proceed and your case completes will Responsible Life Limited charge an advice fee, currently not exceeding £1,490. A lifetime mortgage may affect the value of your estate and your entitlement to means-tested state benefits. Our adviser will talk you through this and the setting up costs before you make any decision to proceed.

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