Gone are the days when you were required to sell your property to unlock the money in it. Instead, equity release enables you the privilege of staying in your home while financially benefiting from the capital tied up within it. You can use the value of your property as a means to receive tax free cash. You can receive this amount in the form of a lump-sum payment or as monthly instalments dependent upon which type of equity release scheme is most suitable for you.
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Equity release can provide a new additional source of income that can be utilised in numerous ways. It is becoming increasingly popular among retired people to supplement their lifestyles. With the increasing expenses and the cost of living, equity release can provide an alternative source of income. The equity release schemes provide homeowners a perfect alternative to fulfil their basic requirements and enjoy other things that they truly deserve.
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Equity release – live your life the way you want
You may want to go on a long vacation or cruise, reduce the cost of your loans & credit card bills, or simply spend some time relaxing in your own garden. The beauty of this type of loan is that it gives you the freedom to spend the money in any way you wish.
When you opt for an equity release loan, the lender will initially ensure you are the real owner of the property. The lender will also check whether you have any secured loans or mortgages still outstanding, as these will need to be repaid first. Additionally, a valuation of your property will also be conducted by the lender via an independent local surveyor. Age is also a major factor that determines how much equity you can obtain. Usually, the older you are, the higher the percentage of value that you will get from your property.
To calculate how much equity release you can borrow click the following link – http://www.equityreleasesupermarket.co.uk/component/option,com_equity/Itemid,59/lang,en/
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Alternatively contact the Equity Release Supermarket team on 0800 783 9652
