Equity Release
Equity release is a financial product that allows homeowners, usually older adults, to access the equity in their home without having to sell it. This can provide a way to generate cash for various needs, such as home improvements, medical expenses, or retirement income.
There are two main types of equity release:
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Lifetime Mortgages: This is the most common form of equity release. Homeowners take out a loan against the value of their home while retaining ownership. The loan, plus interest, is repaid when the homeowner passes away or moves into long-term care. Borrowers can choose to pay off the interest during the loan term or let it roll up, which increases the total amount owed.
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Home Reversion Plans: In this arrangement, homeowners sell a portion or all of their home to a reversion company in exchange for a lump sum or regular payments. They can continue to live in the property rent-free until they pass away or move out. When the property is sold, the reversion company recovers its share of the proceeds.
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Aged 55+ and want to release equity in your property? With this you could:
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Supplement your retirement income
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Home Improvements
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Help Family Members
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Cover Healthcare costs
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Pay off debts
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Clear an Interest-Only mortgage
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For more information, please get in touch.
A lifetime mortgage is a long-term commitment which could accumulate interest and is secured against your home. Equity Release is not right for everyone and may reduce the value of your estate.
Equity Release is arranged by referral only.