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The Free Money Advice Service has been setup by the government to provide impartial advice on most financial matters but is particularly good on Equity Release. 

Equity Release is a minefield but a necessary minefield! Get it right and older people can raise money on their property - potentially allowing them to afford to stay in their homes for the rest of their lives. Get it wrong and they can accumulate an enormous debt and effectively disinherit their children as the finance company claims their home in order to repay the accumulated loan when they die. The link below may help you decide whether this might be a useful route to go down. However just as importantly consider using a financial adviser.
This is a simple AgeUK Equity Release calculator which will help you find out how much an equity release loan would allow you to raise on your house.

Independent Financial Advisers - IFAs Kirkwall

Orkney IFA Ltd

off King Street, Kirkwall KW15 1WQ, UK – 01856 876810

Click for excellent Money Saving Expert advice on choosing an Independent Financial Adviser (or IFA) around Kirkwall.
This is a revolution! We are used to going to a bank with a business plan and been lent money on very high rates of interest - but only under increasingly demanding conditions. Crowd funding is the public investing directly to the businesses - at all stages of their development. Crucially there is a huge range of projects and Crowd Funders. You could do worse than just read and then click some of the WiKi link below.

Crowd Funding and Business Loans

We could not find any Crowd Funding or Business Loans around your location. Please click below to see full results from Google.

Read current articles in MoneyWeek magazine.
TSB Bank

1 Broad St, Kirkwall KW15 1HE, UK – 01856 604999

26 years of excellent service from top class management and staff.

Nationwide

24 Bridge St, Kirkwall KW15 1HR, UK – 0800 554 1500

the best by far and banking etc and very friendly helpful staff.

Santander

14 Albert St, Kirkwall KW15 1HP, UK – 0845 765 4321

Did what was required

Banks

TSB Bank

1 Broad St, Kirkwall KW15 1HE, UK – 01856 604999

26 years of excellent service from top class management and staff.

Nationwide

24 Bridge St, Kirkwall KW15 1HR, UK – 0800 554 1500

the best by far and banking etc and very friendly helpful staff.

Santander

14 Albert St, Kirkwall KW15 1HP, UK – 0845 765 4321

Did what was required

Building Societies

Nationwide

24 Bridge St, Kirkwall KW15 1HR, UK – 0800 554 1500

the best by far and banking etc and very friendly helpful staff.

Mortgage Brokers

Orkney IFA Ltd

off King Street, Kirkwall KW15 1WQ, UK – 01856 876810

Mortgage Brokers - Key Questions

How much do mortgage brokers charge?
Typically, a broker will actually be paid around 0.35% of the mortgage loan as commission from your the lender. So, for every £100,000 borrowed, they would receive £700 in commission - if they are on commission. Many will therefore not charge for their advise if they are. However they maybe tied to specific companies and so may not be able to offer the best deal. Start with your bank. They will know you personally and financially - hopefully! They will tell you about their mortgages and you can use them as a base line to compare products found by mortgage brokers around Kirkwall.

Is it better to get mortgage from bank or broker?
This question will be answered by this initial mortgage research. You may hit it lucky and find that your bank can give you the best deal - but do check with a mortgage broker first.  

How do I find a good mortgage broker?
Don't write off the financial comparison websites. Moneysupermarket is full of good advise on how to find mortgage brokers and may even be able to point you around Kirkwall Hotel that they particularly recommend - although will be on commission themselves! Click the link below to go the the right part of Moneysupermarket.

Are mortgage brokers worth it?
Probably yes and we are not on commission! You are free to the these ones a ring - it could really worth it.

Mortgages

Lows

5 Broad St, Kirkwall KW15 1DH, UK – 01856 873151

A good Orkney lawyer

ATM

1 Broad St, Kirkwall KW15 1HE, UK

Orkney Financial and Property Centre

13 Bridge St, Kirkwall KW15 1HR, UK – 01856 877866