Considering Equity Release?

Is Equity Release right for me?

Care should always be taken when considering a major financial step.

There are several aspects to consider before embarking on an Equity Release Scheme:

• Are there alternative courses of action, which can be taken so as to avoid releasing home equity, i.e. scope to use existing investments?
• Will there be an impact on the benefits you are entitled to?

• Do you retain the right to remain permanently in your home?
• If my personal circumstances change am I able to move to an alternative property without incurring a financial burden?
• What is my preferred method of equity payment? A lump sum, regular increments or a combination of the two?

It is highly recommended that you speak to your family members, or other close parties, regarding your plans, as this change in your financial situation will affect the value of your estate on your death, which will be passed to your beneficiaries.

 

 

How does Equity Release work?

By releasing part of the value locked up in your home, you can improve your lifestyle in retirement - without having to move. The value of your property has probably grown considerably over the last 20 years - equity release means you can use some of that value, to provide you with the extra money to fund a holiday of a lifetime, carry out repairs to your home or simply make day-to-day living more comfortable and worry-free.