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Equity Release
23/12/2010

If you own your property and wish to have some more money to spend on your life, then equity release is a great way to borrow money. Money is borrowed against the equity held within your property and is not repayable in your lifetime.
The two main types of equity release schemes are the life time mortgage and home reversion plan.
Lifetime mortgages provide you with a tax free loan with no obligation to repay until the death of the borrower and the spouse. You remain the owner of the property.
A home reversion plan is when you sell a portion of your property that will provide a tax free lump sum to the owner. The property remains in the care of the owner until the death of the owner and spouse.
Homeowners aged over 55 years who 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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