Are you getting retirement income lower than you expected? Are bills rising faster compared to your income? Do you want to have peace of mind during your retirement?
If yes, you could consider opting for an equity release scheme.
Equity release is a financial tool that releases equity from your property. It provides you with a lump sum against your home. Senior citizens often opt for equity release for additional money later in life.
The main purpose of opting for an equity release scheme is to raise money, either for lump sum purchases or for income. People may use the option of equity release for adding funds to their retirement or to help their family or children purchase a new home. The option of equity release can also be helpful to tackle issues with late life medical bills.
X
When to opt for an equity release scheme
Typically, equity release is a way to raise capital when you have explored all other options as follows:
- Downsizing to a smaller property to raise funds
- Using any existing investments or savings to fund any shortfall
- Consider an interest only mortgage
- Claim any available social security benefits e.g. pension credit, council tax benefit etc
- Take on a lodger
- Ask friends & family for assistance
These options should always be considered first & discussed with your independent financial adviser before entering into equity release.
Once eliminate as inappropriate then equity release schemes can be looked into & advised accordingly.
X
An equity release scheme offers homeowners a way to release some percentage of the value of their home.
If your age is over 55, you own a property and you are looking for a way to get funds to assist your financial problems, an equity release scheme may be the best solution for you.
X
To discuss your options, please contact the Equity Release Supermarket team on 0800 783 9652 or email mark@equityreleasesupermarket.co.uk
Tags: equity release, equity release schemes, lifetime mortgages
