Equity release enables homeowners over 55 to continue to live in their home while getting a cash lump sum or income from it. A lifetime mortgage is one of the two main types of equity release plans, the other being a home reversion plan.
Lifetime mortgages are by far the most popular type of equity release accounting for 99% of plans sold.
Continue reading “What is the difference between equity release and a lifetime mortgage?”
Equity release can provide a way for homeowners to share their hard-earned wealth with loved ones in later life, while they are still around to see them enjoy it. From help getting on to the housing ladder, to assisting with a wedding, equity release can help families to share life’s most important milestones.
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Debt in or approaching retirement can be a real worry. For many people, starting retirement will mean a fall in income. You might find it’s then a struggle to pay your monthly household bills, mortgage repayment and unsecured debts. Even if you plan to carry on working, the ever-increasing cost of living may be putting a burden on your finances.
Continue reading “Releasing equity from your home to repay debt”
The Equity Release Council is the official industry body, committed to making sure we put your needs first. We’re proud to be a member and live by the high standards that they set for products and services. But what does this mean to you?
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Wondering whether you can use equity release to buy your new home? The simple answer is, yes you can. The relevant eligibility criteria must still be met – the same as if you were exploring equity release on your current home.
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Given the difficulty grandchildren are facing whilst attempting to acquire their first mortgage, many grandparents are already stepping in to help, often considering releasing equity from their home in order to help with the required deposit.
Continue reading “Helping grandchildren onto the property ladder”
Equity release allows homeowners over the age of 55, to release tax-free cash from their homes (provided your home is worth over £70,000) to be used for any reason.
So, for example, if you are looking to release cash tied up in your home to improve your retirement, then equity release could be for you.
Continue reading “Is equity release right for me?”