Whether You Want to Buy a Second Property or Access Some Home Improvement Funds, This Guide to How Equity Release Works Will Help You Get It Done.
Halifax Equity Release
Halifax Equity Release Scheme Review
Are You Considering Halifax Equity Release? What are the Pros, Cons & Costs? Discover If Halifax Equity Release Plans are for You.
Halifax Equity Release Review
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It’s REALLY hard to choose the best equity release provider with all the choices available.
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Who Are Halifax?
The Halifax Group is an established private equity firm1 that invests alongside owners and managers of industry-leading growing and profitable companies. They specialise in investing patient, long term capital in the lower middle-market.
Halifax strives to see all their consumers have an excellent service. So, whatever your needs or abilities, you can expect equal access, facilities and treatment.
The firm does lots of things to make sure this happens. Most of their 800 branches are open plan so it’s easy to get in and out, and to move around inside. Most of them also have a reception desk. You can sit down and speak to them about what they can do for you. Their staff will also be able to answer your questions and help as best they can. Halifax and their team are also happy to give you any extra support that would help to make things easier for you.
If you disclose a need or personal situation to them, they’ll explain to you how they’ll use the information you’ve given them, gain and record your consent to ask further questions and to record the information. The Halifax team will ask you further questions about your situation, so that they can gain a clear picture and be able to signpost you to additional help and support.
They try to make sure banking is easy for people of all abilities and needs and they’ll gladly give you any support they can. It’s the same if you have a disability or impairment, or would like a bit of extra help.
Halifax Equity Release FAQs
Halifax equity release is available to homeowners aged 55 or over. It involves unlocking the money that may be tied up in your home, minus any mortgage.
Halifax are not members of the Equity Release Council.
Halifax equity release is a means of retaining use of a house or other object which has capital value, while also obtaining a lump sum or a steady stream of income, using the value of the house.
The ‘catch’ is that the equity provider must be repaid at a later stage, usually when the homeowner dies.
Yes, Halifax pulls the lifetime mortgage product. The withdrawal of this interest-only lifetime mortgage leaves Stone Haven as the only plan provider proving consumers with this form of a financial product.
However, Stone Haven’s scheme is less attractive as it will only lend on an interest-only basis at lower loan-to-values.
Yes. With the lifetime mortgage industry growing at an alarming rate, Halifax has made it easier for its consumers to get an interest-only mortgage.
Halifax will also allow you to say that you’ll sell your estate as a means of paying back the debt. However, you must have an income of more than £100,000 a year (£150,000 if you apply as a couple) and £200,000 equity in your residence.
Yes, it does.
However, the decision-making on the Halifax Home Retirement Mortgage Schemes is now dependent upon what Scottish Widows are providing as they currently administer Halifax’s equity release schemes.
PS – If you’re anything like us, you skipped to the end anyway.
So here’s the scoop – our intention is to help you by finding the best equity release provider so that you can spend the money on something that you really want to, rather than on a high tax bill.⚠️(Spoiler**) Most send us a personal thank you because we do such an incredible job – you’ve been warned. ⚠️
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