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Life Time Mortgages

As the name suggests, these are mortgage type Equity Release schemes where you mortgage your property to release a cash lump sum. However, in this case, unlike normal mortgages you do not need to make any monthly repayments but can allow the interest to accumulate. Members of “SHIP” (Safe Home Income Plans) offer a no negative equity guarantee, which means that you will never owe more than the value of your home.

As with reversion type Equity Release schemes, these allow you to take a cash lump sum, but in this case ownership of the property remains yours. This type of Equity Release scheme is more popular than a reversion type Equity Release scheme as most people prefer the idea that they may be able to pass on some of the value of their house to their family when they die.

In general terms, homeowners can release between 15% and 50% of the value of their property dependent on their age and the Equity Release scheme. The older you are the more you are likely to be able to release money through an Equity Release scheme either as an initial lump sum or as a draw down where you can take smaller amounts as and when you need them. Drawdown type Equity Release lifetime mortgage schemes are particularly attractive as you only pay interest on the amount drawn down and thus the debt builds up at a slower rate than a traditional Lifetime Mortgage Equity Release scheme.

A number of Equity Release providers also give you the option to protect a proportion of your properties value so that you could pass on some of its value to your loved ones when you die. There is also the possibility to release a larger sum of money through your Equity Release scheme if you suffer or have suffered certain illnesses in the past. Not all Equity Release providers offer this option but it can be beneficial for those looking to raise the maximum amount possible.

If you live in the Manchester area and need equity release advice please call us.



Equity Release Advice Manchester

We are Independent Financial Advisers and a group of solicitors in Greater Manchester who have created this network to provide independent advice on arranging Equity Release products and the associated legal work. Although our group of Solicitors is based in Tameside, we can provide face to face Equity Release advice to anyone in the Greater Manchester area, Stockport, Glossop, Bolton, Oldham or the North West. We can also provide advice to people who reside outside these areas but this will generally be telepehone based.

Equity Release is a way for homeowners aged 55 and over to release money from their house to provide you with a tax free lump sum or a regular income and you won't need to make any monthly repayments. So whether you need money to help with the bills, paying off debts, helping your family, holidays or home improvements Equity Release could be the solution.

Due to the complex nature of Equity Release schemes and the number of products available, the first step is to find an Independent Financial Adviser who can advise you if Equity Release schemes are appropriate for your circumstances and then advise you on the Equity Release scheme that is most suitable. The second part of the Equity Release process requires the services of a solicitor to ensure all the legal aspects of the Equity Release transaction are carried out correctly and that you fully understand your actions.

Harrison Townend Financial Services are independent financial advisers which are authorised by the Financial Conduct Authority to give independent financial advice on equity release products. Harrison Townend Financial Services have been working closely with solicitors and their clients to provide quality unbiased advice.

Whilst any financial advice on Equity Release schemes will be provided by the Harrison Townend Financial Services, the legal advice on the Equity Release process can be provided by one of the other practices who are independent of the financial advice.


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Equity Release Schemes Manchester

Equity release schemes are a range of products which allow homeowners aged 55+ and who have little or no mortgage, to safely release some equity from their property to improve their life without having to move.

If you are under 55 we may still be able to help you raise money from you home with an ordinary mortgage or re-mortgage. If you would like to discuss ordinary mortgages please complete our online enquiry form and indicate that you are interested in ordinary mortgages and we will call you back.

“Equity release” includes home reversion plans and lifetime mortgages. To understand the features and risks ask for a personalised illustration.


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Legal Advice

If appropriate and once the initial financial advice on your Equity Release scheme has been provided by Harrison Townend Financial Services, we can introduce you to another firm of solcitors in the Greater Manchester area so that you can be advised independently on the legal aspects of your equity release.

These Solicitors practices cover the Hyde, Glossop, Denton, Stalybridge, Ashton-under-Lyne, Stockport, Tameside and the Manchester area are:-

Rupert Wood & Son Solicitors - Ashton-under-Lyne, Lancashire.

Thompson & Cooke Solicitors - Stalybridge, Stockport, Cheshire.

Chronnell Hibbert Solicitors - Hyde, Stockport, Cheshire and at Woodley, Manchester.

Harrison Townend & Ormeshers Solicitors - Hyde, Tameside, Cheshire.

The above Solicitors can provide home visits within the greater Manchester area if required.


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Clear easy to understand Equity Release Advice

“I was very happy with the service I received from Harrison Townsend Financial Services. Chris Cunlife was very helpful and explained everything clearly”

Mrs P A Lord, Manchester




Searched out the best Equity Release deals in Manchester

“After visiting your offices and Mr Cunliffe searching out the best deals, we were able to tak on board your advice and therefore nake a well informed decision regarding Equity release”

Mr C Pollard & J Schofiled, Manchester




Clear and Understandable Advice

“Very helpful in discussions regarding advice. Everything was made very clear and understandable.”

Mrs K, Audenshaw, Manchester




Unpressured Equity Release Advice

“The information we received both verbally and documented was excellent and at no time did we feel pressured.”

Mr & Mrs T, Hyde, Cheshire




Completely Satisfied with the Advice and Service

“We have found ourselves to be completely satisfied with the advice and standard of service offered and would like to say thank you. We have felt able to take confidence from your advice and would be happy to recommend your company to others.”

Mr & Mrs S, Firswood, Manchester

partners who assist us in home reversion and lifetime mortgage advice

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