Equity release is available to home owners of 55 and over and can help free up capital in your home
If you need to unlock cash from your home to increase your retirement income, to raise capital for other qualifying purposes or perhaps to help a first time buyer with their deposit, then Equity Release might be for you.
However, as with all financial products, it pays to take appropriate qualified advice from a financial adviser who is experienced in your particular field of interest.
Equity release allows (subject to meeting certain conditions) home owners aged 55 and over to release capital from the property they own without having to make monthly repayments.
There are several types of equity release including, Lifetime Mortgages and Home Reversion plans.
They are both regulated by the FCA (Financial Conduct Authority). An equity release product means that a home owner can draw a lump sum or regular smaller sums from a percentage of the equity of their home, whilst still living in their home.
Built into plans that comply with the Equity Release Council are safeguards and standards that enable thousands of home owners every year to safely access their accumulated capital wealth without the concern of having to worry about making monthly repayments.
Equity release can play a vital role towards retirement funding and can also provide home owners over 55 with the ability to access capital to help family members, pay off debts or for home repairs.
If you are considering equity release then you really need to find out as much as possible about the advantages and disadvantages and the longer term implications on your residual estate following your death before deciding whether equity release is the best solution for you.
Use our free search facility to find a qualified Equity Release adviser near to you.