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equity release advice ERC council approved member
equity release advice doncaster

We are proud to be a member of the Equity Release Council

Need help on Equity Release? Paying off a mortgage? Gifting an early inheritance? checking if you are eligible ? paying for home improvements? Making adaptations ? Boosting your retirement income? Paying for care or support? Helping Family members ? gifting family house deposits? holiday of a lifetime?

Created by potrace 1.16, written by Peter Selinger 2001-2019

" Get dedicated personal equity release advisers - "

. I will treat you as if you were my own family making this decision - because I care about making sure it's right for you !

No Obligation phone call- just ask me your questions!

I am fully Qualified and Approved.

COVID SECURE - Phone, video or home appointments

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Compare Equity Release rates

I will always quote you the lowest rate that fits your circumstances

You can stay in your home 'for life'

There are no 'fixed end dates', you can stay in your own home.

Fully 'QUALIFIED' and ' APPROVED '

I am an approved member of the Equity Release Council and I hold the full qualifications for giving you advice in this area.

FREE Chat - from an FCA Regulated equity release adviser

Free initial chat - no obligation ( but my fee is lower than most, so you'll be back !)

Don't you owe it to yourself - to know that you have had truly IMPARTIAL advice  from an advisor NOT  tied  to / or having links to their OWN lender?

Hello !  I’m David Farrell, the owner of Quest Finance Ltd.   I’m not tied to, or owned by any ONE lender,(unlike some ).  So I can guarantee my best equity release advice is always what’s right for YOU from the whole of the market. I am here to represent YOU, not the lender that owns me! 

  • Which lenders could charge high variable exit fee’s of up to  25%?
  • Which lenders have true downsizing options ?
  • Which deal and lender is right for you ? 
  • What for example – can Scottish Widows Offer? ( they are part of the Lloyds Banking Group)

Here’s another 3 great reasons to let me help you;

  1. I would personally handle your case from start to finish
  2. You get a FREE initial meeting and genuinely LOW advice fees – much , much lower than the big 3 / main competitors.
  3. You will also get an ‘annual ‘check in’  to see if any changes, or if rates have dropped and its in your best interest  / you want to move the deal – I will move you to the cheaper deal and I will NOT charge you any further advice fee.

The easiest way to get started is to request a callback  or call me direct and we can discuss your case and I can see what fits your circumstances the best.

Get impartial advice that suits you the best equity release adviser that will look at the WHOLE OF THE MARKET & approved lenders for you.

I look forward to personally helping you

David

David Farrell-no-background

David Farrell

Director,  Quest Finance Ltd

 

I don't pay for TV adverts........ so I don't make you pay for them either....

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Equity release advisers

Equity release advice – for you from a wide range of approved lenders including…

doncaster approved equity release lenders

You're in SAFE hands...

Later Life Lending

Equity Release, Retirement Interest Only Mortgages
Equity Release

Helping you to live the retirement  you dreamed of, whether thats “life on the open road” or  just having enough to live comfortably.

Here’s 10 Top protections for you..

  1. You have a guaranteed right to ‘remain in your own home’ for life.
  2. All Lifetime mortgages are regulated by the Financial Conduct Authority (FCA) since 2004
  3. You will get a ‘No negative equity guarantee’ from our approved lenders
  4. We are an ‘Approved Member’  of the Equity Release Council – all the plans we offer fully meet Equity Release council approval.
  5. Lifetime mortgages are also covered under FSCS ( financial services compensation scheme )
  6. Inheritance Guarantees are available, to ensure some monies are always left for your loved ones.
  7. The ability to ‘move home’ and close or take your lifetime mortgage with you to the next property ( as long as it meets lenders requirements).
  8. Interest rates are normally FIXED FOR LIFE, meaning you have certainty of exactly how it will run.
  9. If you use QUEST, know that we are impartial and whole of market, to get you the most suitable deal from approved lenders.
  10. If you have used QUEST for your initial deal, if rates change and its advantageous for you to move to a  new lower rate. We will NOT charge you a further advice fee.
equity release advice ERC council approved member

With a lifetime mortgage you don’t have to make any monthly payments. Instead the interest is added to the amount you owe each month.
This means interest will be charged on the loan plus any interest already added. The lifetime mortgage is usually repaid from the sale of your home when you, or the remaining applicant (if the mortgage is in joint names) dies or moves out of your home into long term care. Of course, any money left over would go to your beneficiaries.

Your lifetime mortgage can move with you, subject to term and conditions of your lender. You must discuss moving home with your lender before committing to a purchase.

Property values may change, and any fall in value will affect the equity available to you or the beneficiaries of your estate. Your lenders No Negative Equity Guarantee means you or your beneficiaries will never have to pay back more than the amount your property is sold for. This is provided it’s sold for the best price reasonably obtainable and you have met your lenders terms and conditions for your lifetime mortgage

A lifetime Mortgage offers you a cash sum as the initial loan. If you choose to take less than the maximum amount you’re eligible for, you may have the flexibility to borrow more in the future. You may be able to borrow up to the maximum originally agreed. This could be in one cash sum or a number of smaller amounts. If there is no Drawdown Facility available you may need to apply for a further advance. This is additional borrowing on top of your existing lifetime mortgage. Applications for further advances may be considered 12 months after completion of a lifetime mortgage. Any further borrowing must be on the same basis as an existing lifetime mortgage. The interest rate may be different depending on interest rates available at the time of requesting further advance. The difference between the initial cash sum you take and the maximum amount you could take is called Drawdown Facility

For equity release – there are no income requirements, unless you opt to make monthly payments, in which case lenders will check its feasible.

For RIO’s or mortgages in retirement, the same rules for mortgage affordability apply,  IE  you must have enough income to prove you can maintain the mortgage payments.  Often lenders currently cite that as the last person remaining can still afford the mortgage.

Unlike schemes in the 80’s and 90’s  the equity release and lifetime mortgages now come under the control of the Financial Conduct Authority ( FCA )

There are also several safeguards, such as no negative equity guarantee’s, right to remain in the property for life etc,  that has made these much more robust products for today’s consumers.

Good question,  this is often hidden by many.  Unlike some Advice companies that charge a minimum fee of £1,795  or 1.99%.  

At Quest we believe in a fair and consistent fee,  so we charge a set price of £995*

How that compares in real life –  You ask for a lifetime mortgage plan for £160,000;

  • Our Competitor at £1,795 minimum  / 1.99%  would charge = £3,184
  • Quest Finance Fee = Maximum of £995
  • Saving you at least £2,189!

* Note We have Special offers sometime available – PLUS we do NOT charge for any lifetime mortgage deals which release over £200,000.

independent advice on equity release

Equity Release advice – Key Reasons to use Quest Finance independent advice on equity release;

  • Whole of Market advice
  • speak directly to equity release advisers
  • I will assess your needs & circumstances
  • Offer a FREE Initial equity release advice consultation
  • FREE  Later Life Lending guide
  • Search across all available Lenders
  • I am NOT tied or affiliated to just one lender so you will get independent advice on equity release 

I want to become your trusted financial adviser equity release.

A Lifetime Mortgage or lending in retirement, may well be the last mortgage /  major financial decision you make.

How Does Equity Release Work?

Read our FREE Equity Release brochure, or better still give me a call !

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What is Equity Release ?

Aged 55+ ?

Later Life Lending covers lending options for those aged 55+,  including; Retirement Interest Only Mortgages, Lifetime Mortgages and  Equity Release.

So What is Equity Release ? One of the main types that is commonly known to most people is Equity Release,  this  is a lifetime mortgage,  which is a loan secured against your home. Typically the loan and compound interest is repaid when the last borrower dies or moves into long-term care.

Lifetime mortgages and equity release need to be given careful consideration, please contact us and we will discuss your options and how each product works. So that you are in an informed position, before committing to anything.

Retirement Interest Only Deals

(RIO’s)

Later Life Lending covers lending options for those aged 55+,  including; Retirement Interest Only Mortgages, Lifetime Mortgages and  Equity Release.

Retirement Interest Only mortgages allow you to borrow against your property and only pay the interest accrued each month. The capital is paid off when you sell your property, move into residential care or pass away.

The amount you can borrow on a RIO is based on affordability, looking at your income and outgoings to make sure you can maintain payments – even when you have fully retired and your only income is from pensions & investments.

If a joint application  ie  Mr & Mrs  the RIO mortgage must be affordable based on the last sole survivors income.

equity release or retirement mortgages

Disclaimer

Equity release includes Lifetime Mortgages and Home Reversion Schemes. We can advise and arrange Lifetime Mortgages and we will refer to an approved specialist for Home Reversion schemes’ as we do not offer Home Reversion schemes ourselves.   

Home reversion plans – involve selling your property and leasing it back – as this is a very niche product, we will pass you onto others for advice on Home Reversion products.

Whereas Lifetime mortgages mean you still OWN YOU HOME and have a permanent right to resdie.

equity release cruises

How does equity release advice work?

Use our free equity release calculator and find out how does equity release work ?

Is equity release a good idea ? Get lifetime mortgage / independent  equity release advice on  a wide range of lenders  Aviva Equity release lifetime mortgages, Lifetime mortgages and equity release from Legal and General for example. We also look at Canada Life equity release deals and LV lifetime mortgage rates and LV equity release plans to find you the deal that suits your circumstances the best.

Lifetime Mortgages / Equity Release with an existing mortgage ?

Whether you need equity release to pay off your mortgage, equity release advice for home improvements, equity release for divorce settlements to buy out ex partner. Or perhaps you already have an equity release lifetime mortgage and want to look at an equity release advice to remortgage onto lower interest rates.

Lifetime Mortgages / Equity release on leasehold properties?

You can get lifetime mortgages / equity release on leasehold properties, but the lease remaining needs to be quite long typically around 100 – 130 years remaining.   If your remaining lease is lower than that – then with some lenders  You can access a lifetime mortgage to purchase a leasehold extension.