Independent financial advice
in Nottingham & the East Midlands

Equity Release is a method of withdrawing equity in your property, as cash, if all or the majority of your wealth is in your home. If you think that equity release may be the best option for you, we will discuss your current financial situation with you in detail and advise you in simple terms whether we believe equity release is, or is not, the right product for you. Once we have ascertained that equity release is, in fact, the right product for you we will find the right equity release scheme for you, and provide you with clear written details explaining the benefits and disadvantages and we will set up the scheme on your behalf. 

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Equity Release allows homeowners over the age of 55 to borrow money against the value of their property. It is a way of unlocking the value of your property, without having to move home.  Money is paid out as a lump sum in cash or as a regular income.

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There are two main aspects of concern in arranging long-term care: how to ensure that you are getting the right care and are fully aware of all the Social Service options available; and how to fund any shortfall in care fee costs that is needed.

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Veracity Financial Planning is a local firm of advisers in Nottingham, qualified and experienced in providing financial advice to the older client, for their long-term care.fees for care in care homes, nursing homes or at home.

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Firstly the word ‘annuity’ is one of those words which many people don’t understand, actually, it simply means ‘an income for life’. We give more information that will help you understand how annuities work.

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Here is some information about care costs and capital. Many individuals requiring long-term care are eligible for a non-means tested contribution towards nursing care.

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Lasting Power of Attorney (LPA)has now replaced the old Enduring Power of Attorney (EPA). You can no longer make an Enduring Power of Attorney (EPA), however if one was already correctly set up and both the donor and the attorney(s) signed the document before the 1st  October 2007,  it is still valid.

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Info4Care is a free internet based information and advice service designed to help older people and their families understand the English care system in a simple and logical way. Its primary aim is to signpost them to the most relevant sources of help and advice both locally and nationally. More information can be found at the info4care website.
Some benefits are means-tested, which means that the amount of capital you have and income you receive can affect your eligibility. Capital includes savings, investments, and property other than your own home.

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Homeowners who take out an equity-release loan, when interest rates and gilt yields are low, will probably pay little or no penalty if they want to repay the loan a few years down the line.

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It is very important to ensure that you are claiming the correct benefit rates. Here is a description of the main benefits and what you should expect from them.

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Assessments are the name the council gives to decide whether you need a social care service from the County Council. They usually involve discussions with you, and often with other people who are involved in caring for you.

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There are certain risks associated with equity release. We point out some of the major risks below which we would urge you to consider seriously before committing yourself to an equity release contract.

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