What is Equity Release?
Put simply, Equity Release is where you can release equity (money) tied up in your home for any purpose you like. If you or someone you know are over 55 this could be a brilliant way to improve the quality of life in your retirement years and help prevent any financial concerns when you’re no longer working full-time.
Different Schemes
There are schemes to suit everyone. You can choose to make monthly repayments to the lender or not. Either way the outstanding balance is not due for repayment until you either pass away or move into long-term care.
Reasons for Equity Release
Below are some of the most popular reasons why people take out equity release:
Talk to a Mortgage Adviser
It is important to speak to a Mortgage Adviser who is a member of the Equity Release Council as they can help you to make the right decision for your individual needs.
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