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Reasons to Opt for Equity Release Schemes
29/10/2010
Equity release could be the solution to your problems, if you are struggling to stay afloat during the credit crunch. It provides you with an additional source of income, which is tax-free, against the value of your home.
To qualify you must be 55 years or older and own a property that is mortgage-free (or has a very small outstanding mortgage that can be paid off with the cash that is made available via an equity release scheme). Equity can then be released.
Equity release allows you to take a tax free lump sum or regular income and stay in your home, spending the money any way you wish.
Repayment is made after your death on the sale of your property, so there won't be any complicated loan agreement outstanding.
Equity release is planned in a way that allows retired individuals to enjoy their retirement peacefully.
Homeowners aged over 55 years who would like to know how much money the value of their property could release to help them through retirement, can find out by contacting therightequityrelease.co.uk for equity release advice.
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