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Reasons to Take Up Equity Release
02/12/2010
Many retired individuals cannot manage on their pensions and limited savings which might be worse after the austerity measures taken by the government come into force.
If you are 55 or over and own a property then there might be assistance available through an equity release scheme. With equity release you can obtain money against the value of your property.
Two types of equity release schemes are available, lifetime mortgages and home reversion plans. Either of these schemes can be chosen and come in the form of a tax free lump sum or regular income or some of each.
The money can be used for any purpose and there is no need to leave your home because unlike other mortgage plans or loans, you do not have to leave or sell your home to unlock equity.
Homeowners aged over 55 years who cannot manage on their pensions and limited savings 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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