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Equity Release to Help Relieve Financial Concerns
18/11/2010
Equity release can provide a much desired relief from persistent worries over financial troubles in the last phase of life. With much relaxed conditions in terms of securing tax free funds and without any requirement for repayment within lifetime, equity release can be a solution to those retirees be-set with financial worries. Equity release schemes are being provided to help homeowners enjoy their twilight years without a financial burden.
Release of equity option is of two types – life time mortgage and home reversion plan.
With a lifetime mortgage equity is released from the property in the form of a loan, provided either as a lump sum or a series of monthly instalments.
With the other type of equity release, the owner sells off his entire property or a part of it while being able to live in the house throughout his lifetime without paying any rent.
Homeowners aged over 55 years who have financial concerns and would like to know how much money the value of their property could release to help, can find out by contacting therightequityrelease.co.uk for equity release advice.
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