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What is Equity Release and What is Right For You
25/11/2010
If you are a homeowner with little or no mortgage and over 55, you might qualify for equity release. The amount released will depend on the property value and the type of scheme chosen.
Benefits of equity release can be to increase your income, pay off any remaining mortgage or debts, home improvements, new car purchase or even help family members with a deposit for a new home. It can in fact be used for anything.
You will have the option to obtain some of the equity from your home in the form of a lump sum or as regular cash payments or some of each, either allowing you to remain living in your home for the rest of your life.
You can receive an immediate indication of how much you could release under a lifetime mortgage scheme by entering your details in our online equity release calculator.
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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