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Michelle is an award-winning chartered financial planner who holds the designation 'Fellow of the PFS' demonstrating her commitment to maintaining the highest standards of knowledge, ethical conduct, and professional practice. Michelle is also an accredited member of the Society of Later Life advisers. Michelle offers a fully personalised service tailored to each clients individual needs and goals, using an approach that was recognised and honoured by the Women in Financial Advice awards in 2021. Clients working with Michelle can expect a high level of professionalism, integrity and a lasting relationship built on trust and open communication
Michelle Boakes
Chartered Financial Planner
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If you're over the age of 55, equity release offers you a way to use the value of your home to raise money. You won’t have to make monthly repayments, but the debt will eventually have to be repaid – with interest.
It is advised that you seek Independent Legal advice before entering into a legally binding equity release contract.
Free Introductory Meeting
We offer a complimentary introduction meeting to understand your existing plans and your financial objectives so that we can offer you the right advice and service that meets your objectives and your preferences.
Why do people consider Equity Release?
- To provide an additional income in retirement
- To provide lifetime gifts to relatives
- For home improvements
- For holiday home purchase
- To fund long term care
You may have other ideas - there is no restriction on how you use the funds.
However, since equity release can be an expensive way to raise money when taking into consideration payment of arrangement fees or interest, you should also consider the following:
- Sell your home and live in rented accommodation
This option involves selling your house and investing the proceeds in income producing investments. The income from these investments is then used to rent a property and for your living expenses. You would only really be able to generate sufficient income to live on if your property was sold for a large sum of money.
- Benefits entitlement
Our personalised evidence-based recommendations that build on your current plans are achieved using robust research. We investigate different financial scenarios so that you can be confident in achieving your objectives.
Have you checked to see that you are getting all of the benefits you are entitled to? It may be that you are entitled to benefits that make equity release unnecessary. Also equity release could affect your entitlement to means-tested benefits so it's worth speaking to your local authorities to consider these areas first. They may be able to offer you grants or assistance with essential home improvements and alterations that you would otherwise pay for yourself.
- Your Savings & Investments
If you have savings or investments, you may wish to consider this alternative.
- Rent out a room
If your house is sufficiently large you might consider renting out a room to bring in regular extra income.
- A smaller home
If your family have grown up and they are off on their own financial journey now, your current home may be too big for your needs, and you could consider something smaller and more economical to run. In this case, you could consider purchasing a smaller property, leaving you with a lump sum on completion.
Get in touch
When we tell you about a fee, you will always receive a clear explanation of: The total fee, the advice service it relates to, how it's been calculated, when you need to pay it and your payment options.
Equity release has to fit with your needs, circumstances and preferences, where the benefits need to outweigh the drawbacks and be more suitable than alternative methods of raising funds.
Warning Text
EQUITY RELEASE (INCLUDING LIFETIME MORTGAGES AND HOME REVERSION PLANS) WILL REDUCE THE VALUE OF YOUR ESTATE AND CAN AFFECT YOUR ELIGIBILITY FOR MEANS TESTED BENEFITS.
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ESTATE PLANNING IS NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.
