FAQs

Eligibility for the SYH Charterhouse Plans

1. Who is eligible for SYH Charterhouse Equity Release?

We currently offer a range of Equity Release Plans with the following criteria:

Lifetime Mortgages - available in England, Wales and Scotland age 55 plus

Rent-Free Home Reversion - available in England, Wales and Scotland age 65 plus

Partial Equity Release - available in England, Wales and Scotland age 65 plus

 Please see our Equity Release Factsheets for more information, or contact the Intermediary Team on 08442 250 255 to discuss in more detail. 

2. Can my client have an outstanding mortgage?

Any outstanding mortgage or secured loan must be repaid upon completion of the Equity Release Plan. Clients often choose to take out Equity Release plans as a way to pay off their mortgage.

3. Is there a maximum age?

This depends on the individual Equity Release plan.  For more information, download our individual Equity Release Factsheets from the Resource Library, or call the Intermediary Team on 08442 250 255 to discuss in more detail. 

4. Would you consider an impaired life?

Some Equity Release plans are specifically designed for people who are in poor health.  Please contact the Intermediary Team on 08442 250 255 for more information or to discuss a particular case in more detail. 

 

5. Would you consider someone who has had County Court Judgements or has been discharged from bankruptcy?

We have accepted clients who have experienced severe financial difficulties in the past. These are always assessed on a case-by-case basis.  To discuss a particular case in more detail, please call the Intermediary Team on 08442 250 255. 

6. If the property is currently owned in joint names, can the Equity Release Plan be taken out in only one name?

This depends on the particular Equity Release plan.  Please contact the Intermediary Team for more information on 08442 250 255. 

Release Figures

1. What is the minimum amount that can be released?

This depends on the particular Equity Release plan.  Please see our individual Equity Release Factsheets, available to download from the Resource Library on this website, or call the Intermediary Team on 08442 250 255. 

2. What is the maximum amount that can be raised?

This depends on the particular Equity Release plan.  Please see our individual Equity Release Factsheets, available to download from the Resource Library on this website, or call the Intermediary Team on 08442 250 255 to discuss in more detail. 

3. Can my client release the money in stages?

Yes, there are a number of Equity Release plans that allow this, usually Drawdown Lifetime Mortgages or Partial Equity Release.  Please ask the Intermediary Team about the different drawdown options available. 

4. Is there any flexibility in the release figure available?

There are a number of Equity Release plans available that offer flexible release figures.  Please contact the Intermediary Team on 08442 250 255 for more information. 

5. With Home Reversion, can my client repurchase the property from the Equity Release provider?

This is usually possible, but the client will be responsible for all valuations and legal costs.  Contact the Intermediary Team on 08442 250 255 to discuss in more detail. 

Terms and Conditions of SYH Charterhouse Plans

1. What are the Terms and Conditions for SYH Charterhouse Equity Release?

Specific Terms and Conditions vary between Equity Release plans.  For full Terms and Conditions and specific product information for any of the Equity Release plans available through SYH Charterhouse, please contact the Intermediary Team on 08442 250 255. 

3. What happens if my client wishes to move?

SYH Equity Release is designed for clients who wish to stay in their home. However, if clients find that their current property is becoming unmanageable, the opportunity to downsize to a property of lesser value through the various Equity Release plans is offered.

4. Can my client have someone living with them?

This depends on the particular Equity Release plan.  Please call the Intermediary Team on 08442 250 255 for more information. 

5. Who owns the property?

With Lifetime Mortgages, the client retains ownership of their property.  With Home Reversion plans, the legal title for the property is passed to the Reversion Provider.

Maintenance of the Property

1. Who is responsible for maintaining the property?

The client usually remains responsible for all external building maintenance, internal maintenance and upkeep of the property with Equity Release plans.

2. Who pays for buildings and contents insurance?

Buildings insurance and contents insurance remain the responsibility of the client with SYH Charterhouse Equity Release. 

Introducing Clients to SYH Charterhouse

1. How does my client get a Key Facts Illustration?

Call the Intermediary Team direct on 08442 250255 or call freephone on 0800 169 5723.

2. How do I get a login for your website?

Register with us here . We will ask a few simple questions and then will email you your registration details. If you have any problems call 08442 250255 or email syhintroducer@syh.org.uk. 

 

3. How do I get a Decision in Principle?

Download a form online or call the team on 08442 250255. As long as the application meets our criteria, we will be able to process this for you straightaway.

4. How do I get further information about SYH Charterhouse Equity Release?

If you would like an Intermediary Information Pack, please call the team on 08442 250 255. If you register with us, you can also download the Intermediary Information Pack as PDFs from the Resource Library on our website. Copies of our Customer Guide To Equity Release and our Equity Release Checklist can also be downloaded from the Publications area of our website once you have registered.

If you have any other queries, or would like any further information, please call our Intermediary Team on 08442 250 255 or email syhintroducer@syh.org.uk.

5. How quick is the process from acceptance to completion?

This depends on the particular Equity Release plan, but the process usually takes approximately six weeks.

6. How do I track the progress of my client's application?

The Intermediary Team will give you regular updates on progress with the client's application.

7. I have a client I would like to refer to you - what do I do?

Call the Intermediary Team on 08442 250 255 or email syhintroducer@syh.org.uk  - we will be happy to help you.

8. Will I have my own Relationship Manager?

Yes - a member of our dedicated team will be on hand to assist you at every stage and can be contacted by telephone or email. Details of your Relationship Manager will be given when you first sign up as an SYH Charterhouse Introducer.

9. What commission do you pay?

We offer extremely competitive commission rates for SYH Charterhouse Equity Release - please contact the Business Development Team for details.