Equity Release Mortgage Plans
Many retired people find themselves ‘asset rich and cash poor’. Maybe your pension isn’t as much as you had hoped for but you have seen your property value soar. Maybe you have children who are struggling to get on to the housing ladder. Equity release enables you to give money to your children earlier than you originally planned.If you need extra funds many people consider downsizing, however, should you wish to remain in your current home equity release options are available to you.
There are a number of different options to help meet varying needs, but basically you can raise funds (up to agreed limits), and not even have to pay off any capital or interest at any point during your lifetime, if that's the route which best suits you. The provider of the loan would reclaim the capital (and any accumulated interest) through the sale of the property, once the final plan holder dies or moves into long-term care.
- You could pay off your interest only or repayment mortgage
- Home improvements / build an extension
- Fund your children’s deposits for their first home
- Buy a dream holiday home or go on a holiday of a lifetime
- Avoid going in to care and fund your care in your own home
- You can now may the monthly interest and avoid rolled-up compound interest
- Reduce inheritance tax exposure
- Buy your new home using Equity Release if you don’t quite have enough cash
- We will find you the very best product for a FIXED fee of £790