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Downsizing Or Equity Release To Increase Income
18/10/2010
Simply put downsizing from the family home to raise money can be an emotional and physical wrench and lead to problems with future family visits to a smaller home. These are just a few points to consider.
With the equity release route, you are able to stay in the family home, without the stresses of moving to a smaller property.
The most popular type of equity release scheme is the lifetime mortgage where you take out a loan against your home and are charged interest, which is added to the loan. When the home is sold, the loan plus interest is repaid.
Homeowners aged over 55 years currently considering downsizing or equity release would like to know how much money the value of their property could release, can find out by contacting therightequityrelease.co.uk for equity release advice.
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