Frequently asked questions
Below is a list of frequently asked questions regarding equity release. If you have a question that does not appear on the list, you can alternatively call us on 0845 608 1313 or email us Newcastle Equity Release Service
If you are over 55 and own your own property, equity release could be an effective way of improving your lifestyle during retirement. Our qualified advisors will only recommend a equity release product if they believe that it is suitable for you.
How much will I get?
The amount that you are entitled to will vary depending on your age, the type of plan and the value of your property. Newcastle Equity Release Service will search the top UK equity release providers to find the best Equity Release Products to suit your situation and will provide you with a personalised illustration.
How will equity release affect inheritance tax?
Equity Release Products could reduce the value of your estate so may reduce any inheritance tax. It is advisable to discuss this with family and heirs so everyone will fully understand the implications.
Can I move to another property?
If you want to be free to move house in the future, we will reccomend a plan that clearly offers this option.
What can I spend the money on?
The money is free to spend on anything you like! Some of the most popular things that our customers have spent their money on are:
- home improvements
- holidays
- treating family and friends
- a new car or caravan
- Debt Consolidation
Are there any up-front costs?
Normally, the only up-front fee payable is a valuation fee, however this can be negotiated for free with certain providers.
Can I release the equity in my second home?
Yes, Newcastle Equity Release Service enable you to use your second home as security for a payment-free loan.
Is there any tax to pay?
No. The money that you receive will be tax-free.
Will my state benefits be affected?
Releasing Equity could affect your state benefits. We recommend that you discuss this with your local Benefits office.
Can I lose my home?
No. All of our plan providers follow the SHIP Code of Practice meaning that you will continue to own your home and live in it until you die. - See safeguards page.
Below is a list of frequently asked questions regarding equity release. If you have a question that does not appear on the list, you can alternatively call us on 0845 608 1313 or email us Newcastle Equity Release Service
- Is equity release right for me?
- How much will I get?
- How will equity release affect iheritance tax?
- What happens if I want to move house?
- What can I spend the money on?
- Are there any up-front costs?
- Can I release the equity in my second home?
- Is there any tax to pay?
- Will my state benefits be affected?
- Can I lose my home?
If you are over 55 and own your own property, equity release could be an effective way of improving your lifestyle during retirement. Our qualified advisors will only recommend a equity release product if they believe that it is suitable for you.
How much will I get?
The amount that you are entitled to will vary depending on your age, the type of plan and the value of your property. Newcastle Equity Release Service will search the top UK equity release providers to find the best Equity Release Products to suit your situation and will provide you with a personalised illustration.
How will equity release affect inheritance tax?
Equity Release Products could reduce the value of your estate so may reduce any inheritance tax. It is advisable to discuss this with family and heirs so everyone will fully understand the implications.
Can I move to another property?
If you want to be free to move house in the future, we will reccomend a plan that clearly offers this option.
What can I spend the money on?
The money is free to spend on anything you like! Some of the most popular things that our customers have spent their money on are:
- home improvements
- holidays
- treating family and friends
- a new car or caravan
- Debt Consolidation
Are there any up-front costs?
Normally, the only up-front fee payable is a valuation fee, however this can be negotiated for free with certain providers.
Can I release the equity in my second home?
Yes, Newcastle Equity Release Service enable you to use your second home as security for a payment-free loan.
Is there any tax to pay?
No. The money that you receive will be tax-free.
Will my state benefits be affected?
Releasing Equity could affect your state benefits. We recommend that you discuss this with your local Benefits office.
Can I lose my home?
No. All of our plan providers follow the SHIP Code of Practice meaning that you will continue to own your home and live in it until you die. - See safeguards page.