Janette Maxwell. Is Seniors Money in Ireland your business? Last updated: November 13, 2017; Existing Customer Mortgages Ireland. variable, is available to all members who are looking to release equity from the value of their home to: Assist a family member in buying a property; undertake major house extension or refurbishment ; pay legal settlements. Equity release is a big step as it will reduce the value of your estate and can affect eligibility for means-tested state benefits. If the value of your home is greater than what you now owe on your mortgage, you may be able to ‘top up’ your mortgage through Equity Release, which is an additional mortgage loan secured on the property. Is there a charge to avail of an equity release? Let's assume a couple, both 69, have a £300,000 house and want to release £50,000. Equity is the difference between the value of your property and what you owe on your mortgage loan. Time. Section 47 of the Consumer Credit Act 1995 states that. Calculator. Ireland. products currently being offered to senior citizens in Ireland. This is a lifetime mortgage or home reversion plan. Back to top Report a problem with this listing. Answer: Equity release schemes are currently not available in Ireland. Chartered Accountants House, 47-49 Pearse Street, Dublin 2 . The Seniors Money 60-plus Loan is modelled on a home equity release product sold by Sentinel in Australia and New Zealand. Meeting: 6.30pm - 8.00pm. An equity release allows you to access the value of your home, tax-free without having to sell up, so that you can have money to spend on whatever you want or need. You can call us on 0818 200 339 or speak with a mortgage specialist in your Bank of Ireland branch. If you're facing a pension shortfall or need to meet an unexpected expense, equity release can seem attractive. Equity release is regulated by the Financial Conduct Authority. If you are over the age of 55 and a homeowner, you are probably eligible to take out an equity release plan. We use cookies to give you the best experience. Messages 42,363. Event Type. You’re protected . Tea/Coffee Reception: 6.00pm - 6.30pm. How does equity release work in Ireland? No account keeping fees As with a personal loan or a credit card, our Seniors Equity Loan gives you access to extra funds when you need them. Equity release mortgages for over 60s can be a great way to borrow later in life and boost retirement income with tax-free cash. How equity release works . There is no charge for equity release. You don’t need to have fully paid off your mortgage to do this. Lines are open Monday to Friday, 9am to 5pm (excluding bank holidays). 100% Secure. Equity release schemes allow you to access your property's value for more cash in retirement – but equity release is an expensive, lifetime, commitment. Seniors Money 60plus Lifetime Loan - Home Equity Release and Lifetime Mortgage specialists for over 60s in Ireland. Get in touch and we will happily discuss all your options and can make a recommendation as to which one may be best for you. Equity release refers to a range of products letting you access the equity (cash) tied up in your home if you are over the age of 55. Welcome to Key Equity Release's official Facebook page. Our Seniors Equity Loan gives you access to extra funds as a single lump sum to do things like renovate your home or go on a holiday. CPD Event. Use The FREE Calculator Below. You can do this via several policies which allow you to access – or ‘unlock’ – the equity attached up in your residence if you are over 55. Join us for regular updates about financial matters surrounding your retirement. Find out about our Equity Release mortgage for existing customers here. Last updated: June 19, 2017; Existing Customer Mortgages It allows you to tap into the wealth you've accumulated in your property without the hassle of having to move. There are two types of equity release plan: lifetime mortgages and home reversions. ★ Home Equity Release ★ Ireland ★ John Mullane ★ Seniors Money ★ Advice On Property, Bridging Finance, Business And Personal Insurance, Commercial Mortgage, Commercial Mortgages, Equity Release, financial advisor, Equity release in Ireland is, in a nutshell, a mode of unlocking the value of your property in Ireland and turning it into a lump sum. The money you release is yours to spend on what you want. An equity release scheme is a scheme that allows you, based on the value of your asset, to receive either one lump sum payment or a series of payments over a period of time. Venue. Kevin Keane. If you are human, leave this field blank. Claim your listing and attract more leads by adding more content, photos and other business details. According to the Equity Release Council, just over £3bn was lent in 2017, a 42 per cent increase on 2016, with more than 37,000 new customers taking out mortgages. Janette Maxwell Associate Director Tax Lawyer Grant Thornton Ireland. Or, you can access funds more regularly to supplement your day-to-day lifestyle. These equity release schemes in reality were credit arrangements (ignoring any other label placed on them by a financial institution) and the fact that they were offered by now wholly or partly owned State financial institutions should not give that institution carte blanche to charge excessively for these ill fated products. Kevin Keane Senior Consultant at EY. Michelle Sweeney Senior Consultant at EY. Equity release is, in a nutshell, a way to unlock the value of your property and turn it into a cash lump sum. Cross-Practice. To consumers in this rapidly growing segment of the financial market can seem.! 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