Bridgewater Equity Release :: Questions and Answers

Michael Read has now swum the English channel over 30 times, most recently at the age of 66. Maybe you fancy a trip to France or a cruise around the world.

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Q & A

Who qualifies?
If I own a leasehold property how many years must be remaining on the lease?
What is the minimum amount I can release?
How do you calculate what the cash sum will be?

Who qualifies?

You must be aged 65 or over (both aged at least 65 if a couple) and own a house, bungalow or flat, which is freehold, long leasehold or ownership of land in Scotland (formerly feudal tenure), and is well maintained.

If I own a leasehold property how many years must be remaining on the lease?

The unexpired term of the lease plus your age must be at least 145 years. If there are two applicants, the youngest age plus the unexpired term of the lease must be at least 145 years. In addition, for retirement developments, there must be a minimum of 75 years remaining on the lease.

What is the minimum amount I can release?

The minimum cash sum we will release is the lesser of 25% of the property or £25,000.

How do you calculate what the cash sum will be?

The cash sum depends upon the age and gender of the owner occupier(s), the current open market value of the property taking into account location and the local property market and the percentage of the property value being sold. Your financial adviser will provide you with an illustration.

This is a Home Reversion Plan. To understand the features and risks, ask for a personalised illustration.
Bridgewater Equity Release Limited is authorised and regulated by the Financial Services Authority and is a member of Safe Home Income Plans (SHIP). Bridgewater Equity Release Limited Company Registration Number - 05064154