Buying New Car

buy new car

Equity Release for Car Purchase

There’s no question about it, there’s work involved with owning an older car – and the work only increases as it gets older.

Not only is keeping an older car running stressful – it can really start to impact your finances when MOT and service time comes around. So why not consider removing that cost and stress from your life by releasing the equity in your home and investing in something more modern and reliable?

Diane – buying a safe and reliable car

Diane picked up her new car in March 2017 after releasing the equity from her home.

“My daughter had her first child earlier this year and I’ve stepped in to help out whenever needed – but getting a child seat in and out of my little old 3-door car was a real pain.”

“I was conscious of safety too, hopefully this little one will be the first of many grandchildren – so I’d like to know I’ve got something that’s big enough and safe enough for taking the family places.”

After lots of discussion with her family and an advisor Diane opted for a lifetime mortgage on her home, meaning no monthly payments – and finances freed up to select her new car. Diane’s situation also meant she had ample finances left over beyond her new car choice.

“I went for a 5-door, it’s got plenty of room for child seats and buggies, I also know it passed all the highest safety standards, which gives me real peace of mind when I’m taking everyone places. It’s also nice to know that I’ve got a bit of extra money sitting in the bank, meaning I don’t have to worry about paying for nice days out and special occasions.”

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Equity release – the facts

It’s important that you fully understand equity release before committing to a plan. It’s also important that you consider all your choices – people sometimes choose to downsize their home or access savings rather than release equity.

We recommend plans that meet Equity Release Council approval – meaning you benefit from guarantees around the right to stay in your home and are protected against negative equity.

Equity release can change the value of your estate and can therefore affect entitlement to means-tested benefits.

The most popular kind of equity release is a lifetime mortgage; a loan secured against your home which typically has no monthly repayment. Instead, the loan accrues interest – and is repaid when your plan ends.

What’s right for you?

If you’d like to release some funds that would allow for the purchase of a new car, get in touch and see how we can help. We always promise no jargon or pressure – just a friendly discussion about your unique situation and details of plans that might suit you. Click here or call us on 0333 360 1958 and take the first steps toward having a brand-new set of wheels that will be ideal for your needs.

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Why You should always choose a product from a lender approved by the Equity Release Council

Guarantee 1

equity release council logo approved You have the Right to Remain in your Home for as long as you choose

Guarantee 2

equity release council logo approved You will NEVER owe more than the value of your home due to the "no negative equity" guarantee.

Guarantee 3

equity release council logo approved You have the freedom to move to another property without financial penalty (subject to provider criteria)

Here to Help You

To Provide Friendly, Efficient Advice For The Life Of Your Mortgage.

Free Equity Release Guide

Looking to release some cash that is tied up in your property? Get Your FREE Guide here

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Contact Us

You can contact us by calling 0333 360 1958 or using our contact form

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How Much Can You Release?

Use our Equity Release Calculator to find out how much cash you can release

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